Based on today's classical pivot point (P1) with the value of $0.2668, Optimism has support levels of $0.2487, $0.2372, and the strongest at $0.2191. Similarly, Optimism resistance levels are at $0.2784, $0.2965, and $0.3080.
| # | Price | Strength |
|---|---|---|
| S1 | $0.2487 | |
| S2 | $0.2372 | |
| S3 | $0.2191 |
| # | Price | Strength |
|---|---|---|
| R1 | $0.2784 | |
| R2 | $0.2965 | |
| R3 | $0.3080 |
Technical indicators are an essential tool for conducting technical analysis. They provide insights into an asset's market status, investor sentiment, and more, thereby helping investors make more informed trading decisions.
| Period | Value | Action |
|---|---|---|
| RSI (14) | 33.18 | NEUTRAL |
| Stoch RSI (14) | 0.00 | BUY |
| Stochastic Fast (14) | 5.41 | BUY |
| Commodity Channel Index (20) | -66.67 | NEUTRAL |
| Average Directional Index (14) | 35.95 | SELL |
| Awesome Oscillator (5, 34) | -0.03 | NEUTRAL |
| Momentum (10) | -0.06 | NEUTRAL |
| MACD (12, 26) | -0.00 | NEUTRAL |
| Williams Percent Range (14) | -94.59 | BUY |
| Ultimate Oscillator (7, 14, 28) | 34.44 | NEUTRAL |
| VWMA (10) | 0.30 | SELL |
| Hull Moving Average (9) | 0.27 | SELL |
| Ichimoku Cloud B/L (9, 26, 52, 26) | 0.30 | NEUTRAL |
Over the past 7 days, Optimism price was most positively correlated with the price of Polygon Ecosystem Token (POL), Immutable X (IMX), Bonk (BONK), Dogwifhat (WIF) and Arbitrum (ARB) and most negatively correlated with the price of JUST (JST), Monero (XMR), TRON (TRX), Midnight (NIGHT) and Morpho (MORPHO).
| Name | Correlation |
|---|---|
| Polygon Ecosystem Token | 0.991 |
| Immutable X | 0.991 |
| Bonk | 0.989 |
| Dogwifhat | 0.987 |
| Arbitrum | 0.986 |
| Name | Correlation |
|---|---|
| JUST | -0.683 |
| Monero | -0.524 |
| TRON | -0.518 |
| Midnight | -0.422 |
| Morpho | -0.318 |
Optimism price is positively correlated with the top 10 coins by market cap with a price of 0.950, excluding Tether (USDT) and positively correlated with the top 100 coins by market cap excluding all stablecoins with a price of 0.832.
Currencies that are positively correlated with Optimism indicate that the movement of one has a statistically significant weight to lead the other in the same direction. For currencies that are negatively correlated with Optimism, a move in one direction for Optimism would translate into a move in the opposite direction for the negatively correlated coin.
