Optimism price has declined by 7% in the last 30 days, with OP even falling by 7.4% during intra-day trading today. The network recorded close to 91k new addresses on the same day on September 14, bringing the total to 933k. These addresses cumulatively added 170 million OP worth $204 million to the short-term traders’ holding. the market for long-term holders, short-term traders could get spooked by this. Especially the almost 100k new investors that recently joined the network.
21, it would be looking to breach the barrier at $1.36. This line coincides with the 50-day Exponential Moving Average , and reclaiming it would invalidate the bearish thesis, setting OP off to tag $1.40. The chances of a recovery are bleak Looking at the state of the market, it seems rather unlikely that the investors would be willing to support the altcoin to initiate a recovery. The lack of optimism will cost Optimism price its recovery rally.