CandleFocus Optimism (OP) Poised for Breakout: Altcoin Rally Incoming
2024-10-21
Author: Content Editor
The native cryptocurrency of the Optimism layer-two blockchain on Ethereum, OP, is showing signs of a breakout and a potential price rally. OP has bounced off key support and is forming a new upward trend on the weekly chart. After retesting support at $1.06, which represents significant support established in June 2023, OP has rallied over 80%. It is currently moving towards a retest of resistance around $1.950, which, if broken, could launch a bull run for OP. Analysts attribute the increased investor interest to Optimism's recent token airdrop, which helped to spread its native crypto across a wider base of holders and maintained stable tokenomics. With the current price trend, OP appears poised to break above resistance and potentially reach the next Fibonacci level at $2.50. This could lead to a total recovery and the possibility of setting new records.
Related News
Base achieves 51% TPS growth against Ethereum L2s Bitcoin ETF Options Could Boost Action on Wall Street—And Volatility, Say Analysts Ethereum (ETH) Price Could Smash Through $3,300 Due to These Reasons Analysis Company: "The Bull Phase Has Started in Bitcoin", Shares Price Target Bitcoin Whales Drive Accumulation Spike: Why This Might Signal Major Moves Ahead Chainlink tests streamlined business processes with oracles, chains and LLM AI Aave price prediction 2024-2030: Is AAVE a good investment? Fed’s Kashkari says very few transactions actually happen on crypto, except for illegal activity Mining PAC launches ad for Ted Cruz as early voting begins in Texas SUI Bears Push Price Below Support, 10% Drop Expected Here’s Ranked List of Top 10 AI Altcoins Developers Are Focusing on 6 steps to move an old 401k into a bitcoin IRA What Will Happen Next for Bitcoin Price? 5.5 Billion Dollar Shakeout So Close Trust Wallet halts Transak onramp after data breach Bitcoin Primed for Next Vertical Leg As ‘Mass Attention’ Approaches, Says Crypto Analyst Bitcoin falls under $67K as stocks sell-off, but BTC derivatives are stable XRP and XLM Shape the Tomorrow of Payments with Unique Roles in Crypto Market Cardano (ADA) Price Could Surge 19% If This Happens $SPX Skyrockets, Major Holders Command Substantial Market Share How many Pepe coins are there? ‘America Loves Crypto’? The Black Keys Will Play Ohio Concert Amid Contentious Senate Race Cardano Forges Alliances with Major Blockchain Networks Bitcoin Miner Ionic Digital Renews IPO Push, Reports Significant BTC Holdings Solana tries to establish a pipeline of new graduates Whale Takes a Hit: Despite $APE’s 100% Surge, Big Investor Loses $1.06M in a 47% Downturn CFTC Chair Behnam presses Congress to act on crypto and election betting legislation Jupiter opens new round of active staking rewards Crypto Exchange Zondacrypto Wins 7th License with CySEC Approval Bitcoin Up 3,000,000% After It Was Written Off by The Economist Massive Whale Sells Profit on One Altcoin, Buys Two Different Altcoins Instead Crypto.com to Support $KLAY Rebrand to $KAIA, Announces Key Delisting and Migration Details What’s behind the latest rise (and retreat) of BTC ATOM, MEW, POPCAT lead daily gains, Bitcoin rally stalls despite bullish sentiment NEAR Protocol Price Surge 40%: Symmetrical Triangle Formation Hints Breakout TON blockchain sees significant drop in daily active users Coinbase files FOIA requests targeting FDIC over crypto banking restrictions Cosmos (ATOM) Dominates Market Gains as Open Interest Hits Four-Month High ApeCoin (APE) Price Sees 100% Boost After Apechain Launch, Whale Support Declines 'Quantile model' analyst predicts $135K to $285K Bitcoin price in 2025 Crypto ETFs Look Unlikely to Expand Beyond Bitcoin, Ether Under Kamala Harris, Experts Say Chainlink Partners With Major Financial Players to Improve Corporate Actions Data Reporting Using AI and Blockchain Uniswap Labs launches Unichain without UNI unanimity Trump-linked World Liberty Financial would have ‘raised $1 billion’ as a 2017 ICO, Infinex’s Kain Warwick says Scroll Announces 1st Airdrop to Celebrate Community Contributions Analyst Benjamin Cowen Issues Bitcoin Warning As BTC Dips To Start the Week – Here’s His End-of-Year Outlook Institutional interest soars as CME bitcoin futures open interest sets new all-time high Ripple (XRP) Price Wavers as Whales Remain on the Sidelines Sui to $2.60: Analyst Calls Massive Pump for Sui Price Decentraland 2.0 to Release on Oct 22, New Era in Virtual World What The ECB Gets Wrong About Bitcoin Bitcoin Price Dips Below $67K, Pausing Hopes for ATH Rally Ethereum trails bitcoin since Fed's September rate cut amid weak institutional demand: Kaiko Research Sushi unveils Super Swap roadmap to enhance multi-chain capabilities Ledn's retail loans surge 225% amid rising digital asset demand Crypto Tax Comparison: Japan vs. United States Top XRPL DEX Unveils Memepad for Meme Coin Launching on XRP Network, with 70 Meme Coins Launched Already Robinhood unveils Solana crypto transfers for EU users SHIB Exec Teases Strategy to Address FUD Bitcoin Pulls Back Below $67K; Is Another Crypto Rally Failing? 142 Trillion SHIB: Will Shiba Inu's Key Support Stand? MoonPay Achieves ISO 27018 Certification: Elevating Data Privacy Standards U.S. Election Betting: Kalshi's Polymarket Rival Quickly Gets Traction XRP Explodes 130% in Volume as XRP Price Faces Crucial Test Maker (MKR) whale tries to recoup losses with meme tokens Bittensor (TAO) at Risk of Sharp 62% Decline if This Key Level Fails to Hold Analyst Foresees 2,500% Solana Rally to $4,500 as SOL Forms Bullish Pattern Near $170 Is Bitcoin warming up for a $100K explosion? Here’s what’s brewing Bitcoin miner Revolve Labs proposes $60m data center in Minnesota $3.5 Billion in 24 Hours for Dogecoin - What to Expect? Digital protection: the insurance to safeguard crypto Here’s why Simon’s Cat meme coin formed a God candle Why These Altcoins Are Trending Today — October 21 WazirX Moved $75M to Global Exchanges After Hack: CoinSwitch Co-Founder Here’s why Ripple’s XRP is ripe for a bearish breakdown Santander launches digital bank in US to gain cheaper funding for auto loans Bitcoin crime: Chinese woman pleads not guilty to UK laundering charges Bitcoin Stagnates While Altcoins Reverse Course: What the ‘Banana Zone’ Means for Investors XRP Ledger Now One Click Away for 30 Million MetaMask Users: Details ApeCoin Doubles in Price as ApeChain Launches With Pump.fun Clone, 'Top Trader' Game Crypto casino 1xBet accused of rigging matches, streaming children’s games MicroStrategy (MSTR) Price Target Raised to $240 by BTIG ? Bitcoin drops 3% as US sellers spark sub-$65K BTC price targets ADA and BNB Price Prediction for October 21 Korean Investment Giant KIC May Invest in Crypto Directly Ripple founder has donated more than $11.8 million to Harris Why hasn't Fractal ID addressed its possible data breach? Chromia Partners with Chasm Network to Boost Decentralized AI BlackRock’s $26b Bitcoin ETF crowned fastest growing fund Bitcoin Nears All-Time High as Investors Withdraw $2.73 Billion From Exchanges Whales on Notcoin (NOT) shopping spree as altcoin market eyes 400% growth AI scam targets Ripple holders and memcoin trader loses it all: Crypto-sec Is Solana Fall Coming as Smart Whale Cashes Out $3.86M During Peak? EU launches ‘Trusted Investors Network’ to boost VC investment in tech Ethereum ETFs face rocky start but retain strong growth potential affirms Bitwise CEO Ethereum Technical Analysis: ETH Price Holds Key Support, Eyes Upper Breakout Optimism (OP) Poised for Breakout: Altcoin Rally Incoming Michael Saylor Triggers BTC Community with "Paranoid Crypto Anarchist" Statement BTC, ETH and XRP Price Prediction for October 21 Macro Guru Raoul Pal Says NFTs Aren’t Dead, Predicts Big Comeback for Crypto Sector Trump’s lead over Harris widens to 23% in prediction markets BIS report highlights risks in traditional finance's move toward tokenization Russia and BitRiver to build crypto mining data centers in BRICS nations Ripple CTO Reacts to Self-Proclaimed Satoshi Craig Wright's Legal Claims Popcat and MEW tokens rally as Solana DEX volume flips Ethereum Europe vs Latin America: How is the Сrypto Industry Evolving? Samsung Integrates Blockchain to Boost Security of AI-Powered Home Appliances British Pension Giant L&G Is Looking To Enter The Crypto Tokenization Space Binance Converts Altcoins to USDC Successfully Shiba Inu (SHIB) Poised for a Parabolic Move: Key Insights and Price Levels Millions Already Hold This Latam-Based Dollar Pegged Stablecoin Bitcoin Technical Analysis: BTC Faces Critical Resistance Above $69.5K European investors pour record $105B into US Bitcoin ETFs Solana Bulls Push Past $164 Barrier, Momentum Signals More Gains Nigerians Turn to Bitcoin as Naira Collapses Trump election win could send BTC to $100K and propel altcoins further Elon Musk Reveals His Attraction to Dogecoin: A Love for Humor, Dogs, and Memes ApeCoin (APE) price jumps 100% on ApeChain launch Expert Predicts Timeline for XRP to Finally Trigger a “Vertical Giga Send Out of the Blue” Quantum computer ‘threat’ to crypto is exaggerated — For now Lowest search interest since 2020 — 5 things to know in Bitcoin this week Bitcoin to $150,000? Legendary Trader Peter Brandt Shows How CHART: Do Kwon’s extradition has seen a total of 23 developments Bitcoin ETF inflows, crypto equity markets and retail trading sentiment are 'screaming risk-on,' Bernstein says Solana Skyrockets 121% in Volume as SOL Price Rallies Less Than One Trillion Shiba Inu (SHIB) in 24 Hours: What's Next? Crypto funds see $2.2 billion inflows, with Bitcoin leading Solana chart 'cup-and-handle' positions SOL price for potential 2000% rally Japanese authorities trace Monero, arrest 18 in $670K laundering case Crypto AI smart ring startup CUDIS integrates World App to verify biometric data Top 3 Solana Rivals Could Turn 100k into $1.5M in 60 Days MetaMask and digital identity firm Space ID aim to simplify crypto Indonesian regulators extend license application deadline for crypto exchanges Toncoin (TON) Struggles to Gain Traction: 17% Drop Ahead Bitcoin futures open interest hits all-time high; Here’s what it means Top Analyst Predicts Rallies for Dogecoin and FLOKI, Says Nothing Looks As Bullish as DOGE Sui Launches ‘Incubator’ Hub in Dubai for ‘On the Spot’ Solution Engineering Bitcoin Bulls Are Targeting $72,000, Say Analysts XRP Breaks Silence With Price Move, Here's What Comes Next Ripple IPO Speculation: Could It Mirror Amazon’s Historic 1997 Listing? PEPE Volume Skyrockets 51%, But There's a Catch Top 10 Crypto Prices: BTC, ETH, BNB, SOL, XRP, DOGE, and More Crowdsourcing 2.0: Blockchain will restore trust in information | Opinion Tether-backed Northern Data explores sale of crypto mining arm to boost AI growth Solidus AI Tech Price Prediction: This AI Bluechip Coin Is Ready To Surge 2X ZNS Connect Partners with The Plume Network to Offer Blockchain-Based ID Italy: devastating impact on crypto with the increase of taxes Bitcoin Hash Rate Hits New All-Time High, Surges 74% Year-Over-Year Reactions trail Buterin’s final part of Ethereum future: The Scourge A Kamala Harris Presidency Could Be Just as Bullish for Bitcoin Binance Futures Announces It Will List This Altcoin on Margin Trading with 75x Leverage! Ripple Price Analysis: This Is How XRP Can Avoid a Drop to $0.5 XRP Surges 50% But Then Loses 30% in This Metric: What's Happening? Uniswap Thrives with $3.7 Billion in Fees and Expands Multichain Notcoin (NOT) Whales Accumulate as Price Surges 11% SHIB Torches 324 Million Tokens in One Week With 1,020% Burn Rate Surge Satoshi-Era Whale Wakes up With Stunning 411,696% Profit Altcoins Lead Crypto Market Rally: ETH, SOL, SUI, LINK Among Top Performers FCA doubles down on hawkish crypto stance to fight money laundering 3 Altcoins to Watch in the Fourth Week of October 2024 Bitcoin Sees Multi-Month High as 320K+ Addresses Prove Strong Support BONK trends on Google as investors eye ETP listing V3V Ventures Boosts Its Influence in the TON Ecosystem with New Investments in @trade Bitcoin Market Dominance Keeps Rising as Altcoins Fade Market Analyst Shares 7 Altcoins to Watch This Week – Includes Former Binance CEO CZ Details Analyst Says Shiba Inu Will Surge to $0.00003260 Sooner Than Expected Shiba Inu Team Urges Bold Moves, “In the End, We Only Regret the Chances We Didn’t Take” Meme coin hunter turns $296 into $620,000 in 4 hours dYdX Sees 32% Surge Amid Dubai Conference Hype, But Traders Start to Cash Out Binance CEO CZ Warns of Fake Profile Scams Elon Musk Publicly Supports Pro-XRP Lawyer Deaton to Unseat Senator Elizabeth Warren Bitcoin Nears $70K Amid Record Open Interest at $40B as Trump-Harris Election Nears Vitalik Buterin Unveils 4 Major Milestones for Ethereum Solana (SOL) Rises 6% Daily, Bitcoin (BTC) Stopped Ahead of $70K (Market Watch) GOAT Meme Coin Plummets 50% Amid Doubts Over AI-Driven ‘Terminal of Truths’ U.K. Pension Giant L&G Looks to Enter Crypto's Tokenization Space Tap Protocol delays TAP token distribution event Solana (SOL) Eyes $200 Breakout: Key Factors to Watch Solana Surges Past $160, Veteran Analyst Stresses Bitcoin Must Break $70K for Any ‘Long Yellow Fruit Seasons’ Coinbase CEO backs pro-XRP lawyer, Calls out Warren’s agenda US Department of Defense places Bitcoin Softwar thesis under security review, rockets price to $300 Analyst Lists 5 Key Reasons Why Bitcoin Price May Hit All Time High Altcoin Market Strengthens After Breakout: Retest Could Trigger Further Rally Blockchain.com execs face court over delayed financial disclosures: report Here’s How High Solana Price Can Go In Uptober End? Wombat Exchange Warns Users About Design Theft Top Ethereum Burners: Uniswap & 1inch Lead the Charge as DeFi Projects Burn Millions in ETH Trade These 3 Altcoins as Bitcoin Rallies Past $68K Celestia to release over 80% of circulating supply in ten days: what’s next for TIA price? Bybit releases 15th proof of reserves, user Bitcoin assets up over 4.6% from September Big On-Chain Activity Shows Massive Interest in XRP Rising Veteran Trader Brandt Confirms Ethereum Bull Run, Calls ETH Chart “Most Interesting” Crypto Roundup: Memecoin Mania, Ethereum Accumulation, Bitcoin’s Surge Blockchain Evidence Debunks 0xJaypeg’s Denial of $2.2K Token Sale Scam Analyst Says Solana is “the Gambling Chip of the AI Casino” Amid Surging Address Activity Ethereum Co-Founder Vitalik Buterin Unveils Future Plans for ETH in Global Blockchain Summit Top Ripple Lawyer Predicts Outcome of SEC Appeal Bitcoin Is On The Threshold Of The Critical Level Of $70,000! Will There Be A Breakout? Here Are Analysts' Views Samsung integrates blockchain for enhanced security in AI home devices DYDX gained 29% amid whale selloff, emerging as top gainer Upbit Boosts MEW to New All-Time High with Latest Pair Addition ApeCoin Price Explodes 40% with Layer-3 ApeChain Launch $1M Worth of XRP Still Costs $1M: Ripple CTO Says XRP is Widely Available, But Crypto Payment Adoption Remains Limited XRP Ledger Sees Huge Spike in Active Wallets Polkadot’s 2.0 Upgrade to Bring Elastic Scaling and 64-bit PVM Top Memecoins by Social Media Activity: $DOGE, $PEPE & $SHIB Are On The Lead Top Trader Says He Will “Swap Solana For Avalanche” If This Happens to AVAX Price Bitcoin open interest exceeds $40B amid brush near $70K Surprise Elon Musk Endorsement Suddenly Sends Bitcoin And Crypto Prices Higher MiCA delistings will catalyse stronger European crypto offerings As Bitcoin Climbs, Can XRP Price Catch The Wave? Crypto VCs Flock to AI: Over $213 Million Invested in Q3 If Shiba Inu Hits $0.0003 or $0.003, Here is How Much $1,000 Investment Will Rise Dogecoin (DOGE) Sets Sights on $0.150: Will The Rally Take Off? Elon Musk Directly Mentions XRP For the First time Worldcoin (WLD) on the Rise: Is This the Start of a New Rally? Governments must tax or ban Bitcoin to maintain deficits: Minneapolis Fed Crypto Updates This Week: BTC At $68K, XRP Lawsuit & Meme Coins Steal Spotlight Why XRP’s Next Leap Could Hit $15 Minimum: Drop Zone B Explained The Next Big Leap for Bitcoin Miners: What it Takes to Reach $100 Hashprice Buterin pitches solutions to Ethereum’s staking, block production issues Ethereum ($ETH) on the Verge of Breakout, Moving Toward $3,300 Target Bitcoin Vs Dollar: Anthony Pompliano Explains Why BTC Is Better Than Fiat Currencies JASMY’s 126-Week Cup-and-Handle Pattern: Bullish Signals Point to $0.62 Target BunnyFinance Exploiter Launders $4M in ETH via Tornado Cash Binance Helps Delhi Police Crack Solar Scam, Seizing 100,000 USDT in Crypto Governments must tax or ban Bitcoin to maintain deficits: Minneapolis Fed Bitcoin’s surge above $69,000 triggers market-wide rally Japan’s DPP leader pledges crypto tax cuts if elected Bitcoin Gets Yet Another Bullish Signal as Prices Near $70K Tapioca offers $1M to ‘social engineering’ attacker who stole $4.7M Bitcoin’s Price Breaks Past $69,000 – is a New ATH Imminent? Phoenix Group Tops TVL Growth Across Various Projects Bitcoin All-Time High in Sight: Fed Rate Cuts, Whale Activity, and ETF Approval Boost Confidence ApeChain Release Triggers Massive Price Surge for ApeCoin Shiba Inu (SHIB) Crucial 20% Spike: New Bull Run? Ethereum (ETH) Forming Cursed Pattern, Solana (SOL) Faces Critical Resistance Level Trader Unveils Massive Price Target for Ethereum Rival, Says Memecoins Attract Retail Investors Shiba Inu To Double? Analyst Predicts 200% Price Hike – Details BONK Price May Be Ready For A 20% Surge As Bulls Take Charge Dogecoin’s Founder Stacking BNB: Time To Buy? Is Buying Beam (BEAM) Crypto a Wise Decision? Insights Say Yes