Based on today's classical pivot point (P1) with the value of $0.3184, Optimism has support levels of $0.3103, $0.3029, and the strongest at $0.2948. Similarly, Optimism resistance levels are at $0.3258, $0.3339, and $0.3414.
| # | Price | Strength |
|---|---|---|
| S1 | $0.3103 | |
| S2 | $0.3029 | |
| S3 | $0.2948 |
| # | Price | Strength |
|---|---|---|
| R1 | $0.3258 | |
| R2 | $0.3339 | |
| R3 | $0.3414 |
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) | 71.73 | SELL |
| Stoch RSI (14) | 91.17 | SELL |
| Stochastic Fast (14) | 67.80 | NEUTRAL |
| Commodity Channel Index (20) | 66.67 | NEUTRAL |
| Average Directional Index (14) | 31.92 | BUY |
| Awesome Oscillator (5, 34) | 0.03 | NEUTRAL |
| Momentum (10) | 0.04 | NEUTRAL |
| MACD (12, 26) | 0.01 | NEUTRAL |
| Williams Percent Range (14) | -32.20 | NEUTRAL |
| Ultimate Oscillator (7, 14, 28) | 59.23 | NEUTRAL |
| VWMA (10) | 0.31 | BUY |
| Hull Moving Average (9) | 0.33 | 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 Lido DAO Token (LDO), Pyth Network (PYTH), Internet Computer (ICP), Immutable X (IMX) and Litecoin (LTC) and most negatively correlated with the price of JUST (JST), TRON (TRX), Polygon Ecosystem Token (POL), Monero (XMR) and Chiliz (CHZ).
| Name | Correlation |
|---|---|
| Lido DAO Token | 0.933 |
| Pyth Network | 0.914 |
| Internet Computer | 0.899 |
| Immutable X | 0.890 |
| Litecoin | 0.889 |
| Name | Correlation |
|---|---|
| JUST | -0.415 |
| TRON | -0.365 |
| Polygon Ecosystem Token | -0.153 |
| Monero | -0.118 |
| Chiliz | -0.063 |
Optimism price is positively correlated with the top 10 coins by market cap with a price of 0.658, excluding Tether (USDT) and positively correlated with the top 100 coins by market cap excluding all stablecoins with a price of 0.604.
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.
