The price of optimism (OP) has jumped over 30%, the past three days. After the months of the slide, the OP finally shows signs of strength. And if the current breakout holds, a larger rally may be just around.
Let's see what the chart tells us.
Based on a chart posted by the World of Charts, the OP has been stuck in a downtrend since December 2024. Each attempt to move higher has been stopped by the same decreasing resistance line. That has finally changed.
In the latest 12-hour candle, the OP broke up above this long Trendline. This step is important because it is the first time in the months that Bulls managed to push this key level. Breakout candles are strong and bullish, showing that consumers have stepped up with confidence.
To date, OP prices are trading around $ 0.81. A few days ago, it sat closer to $ 0.63. This bounce not only destroys the downtrend but also forms a lower low, which can be a solid sign of a recurrence.
Can the price of optimism revisit past highs?
In the post, the World of Charts said the OP is “Finally prepare for the massive recovery” and this breakout ”It can lead to solid recovery in the midterm. “
If you look at the chart they share, there is also a reference to a previous rally where OP prices have risen more than 110%. That running took the token from about $ 0.68 to $ 1.43. While no exact target is mentioned at this time, the implications are clear. If the OP follows a similar path, there is a room to move properly above the current levels.
Also Read: Why KashPa (KAS) price drops 75% from all times high
The big question now is whether the price can stay above the broken trend. If it is, that level can flip strong support and help with fuel more upside down.
So far, the price of optimism has finally revealed the signs of life again. And if the momentum continues, OP prices can set up for a strong midterm rally.
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