Optimism price fails to pick up on whales’ bullishness as short-term traders gain dominance

entire two months of August and September. Interestingly, this price action did not induce any bearishness in the investors’ behavior but did make it slightly difficult to note a recovery.Optimism price trading at $1.28 at the time of writing has been moving stuck under the 50, 100 and 200-day Exponential Moving Averages for nearly the entire September. At the moment, the 50-day EMA is in confluence with the resistance level of $1.

Since presently, short-term traders amount for 21% of all the OP holders, it does make Optimism price susceptible to an unprecedented swing.Thus, investors looking to jump in like the whales to make profits off the low prices are advised to watch out for the short-term traders' behavior.Information on these pages contains forward-looking statements that involve risks and uncertainties.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Here's How Much APT, OP, AXS, APE, and Sui Will be Unlocked in OctoberAxie Infinity, Optimism, and Aptos are gearing up for token releases in October, collectively injecting over $130M into the market.
Source: Crypto_Potato - 🏆 568. / 51 Read more »