In Optimism that unlocks ( KISS) sell-side trades continue to weigh in, can the OP-side declines get deeper?
The OP who opened the lock, It has made its mark on cryptocurrencies. Such a decline was seen after a long time in unlocking tokens. Despite the positive pricing of the market, the selling wave has not ended yet for OP, which has lost 40 percent of its value in the last 30 days. It was last traded on January 2 at its current price. KISS created fear in investors. What about the ongoing sales due to the lock-up effect? KISS’What awaits in the good chart?
Optimism (OP) Chart Analysis
Testing the bottom prices due to the lock opening, the OP came to $1,376 weeks later. The fact that this level served as a good support in the past indicates that the OP could get a reaction here. But the situation has not calmed down yet, the bottom prices on the OP side still remain valid. The next level of support to watch for the OP is $1,914.
Factors such as the reduction of selling pressure that started with the lock opening and the upward movement of Bitcoin may strengthen the OP. Currently trading right at the support level, if the OP finds buyers at this point, it can head towards the $1,768 – 2,042 – 2,468 and $2,743 resistances, respectively.
