CandleFocus Optimism price forecast: OP drops 16% amid 31 million token unlock pressure
2025-01-27
Author: Content Editor
The altcoin Optimism (OP) experienced a significant decline of more than 16% due to a broader dip in the cryptocurrency market. The global crypto market cap lost nearly 8% in 24 hours, with most tokens seeing a decrease in value. This market correction was triggered by news about Chinese AI firm DeepSeek, which caused negative investor sentiment and impacted Nvidia shares. Bitcoin also fell below $98k and altcoins experienced a sharp decline. Optimism faced rejection at $1.80 multiple times and is currently hovering around the $1.30 support zone. Additionally, Optimism is scheduled for a major token unlock this week, which may further impact its price. Bulls are looking to break above the resistance at $1.80, while the critical price levels for OP are $1.30 and $1.20.
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