🌟⚡️🌟 Optimism (OP) Future Trend Analysis: Key Resistance Level at $0.61 May Trigger Breakout or Pullback
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Optimism (OP) has seen renewed trader interest since early June, with bullish signals in both spot and derivatives markets. Spot Taker CVD indicates strong buy dominance, and Open Interest rose 18.14% to $194.92 million, suggesting increased leveraged exposure and potential volatility. However, Large Holder Netflow turned sharply negative by 62% in the past week, indicating possible profit-taking by whales.
Network activity is rising, with increases in Daily Active Addresses and New Addresses, supporting bullish momentum. OP's 30-Day Volatility is at a low of 105.26%, often preceding strong moves. The $0.61 resistance level is critical breaking it could trigger short liquidations and a breakout, while failure may cause sharp reversals. Overall, the setup is bullish but requires caution due to whale exits and key resistance.
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