The price of Optimism (OP) has struggled against tether (USDT) in recent weeks after seeing its price rejected from $2.5. Bitcoin’s (BTC) price showed some great strength bouncing off from a low of $18,500 to a high of $21,000. This movement has affected other altcoins as most cryptocurrencies produce double-digit gains, including Optimism (OP). (Data from Binance)
Optimism (OP) Price Analysis On The Weekly Chart
The price of OP has had difficulty replicating its bullish move that saw the price rally to $2.5 in recent months as it rallied with a good bullish sentiment.
After falling from an all-time high of $2.5, OP has struggled to stay afloat as the price fell to a low of $1. OP price has formed good support at $1