Optimism's OP token sank below its $0.13 support level this week as downward momentum accelerated. The Relative Strength Index fell to 40.74 and keeps dropping, signaling intensifying bearish pressure across the market.
Falling RSI Confirms Downtrend
The RSI indicator now sits at 40.74, moving sharply downward in recent sessions. This rapid decline shows sellers are gaining control without resistance. The metric's trajectory suggests the current slide could deepen significantly.
70% Chance of $0.095 Test in Ten Days
Models indicate a 70% probability that OP reaches $0.095 within the next ten trading days. Bears now dominate all price action as short positions grow. This target level would represent a 27% drop from Tuesday's low.
Bearish Control Tightens Grip
Sell-side pressure continues unbroken with no countertrend signs emerging. The market structure shows consistent lower highs and lower lows. Volume patterns reinforce the absence of buying interest at current levels.
Traders now watch the 10-day countdown to see if the $0.095 level gets tested as forecast.
