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Optimism buyers, look out for the selling pressure because…
July 1, 2025
A recent surge in daily active addresses has led to optimism regarding the future of Optimism (OP). However, despite this positivity, it is essential for investors to remain cautious due to ongoing selling pressure.
As per data from IntoTheBlock, the number of daily active addresses for Optimism saw a substantial hike of 28% recently. Furthermore, this increase in activity has continued to rise over the past week, with an additional 9.9% jump witnessed. A notable spike on June 27 contributed significantly to this upsurge.
In addition to this activity surge, the OBV (On Balance Volume) indicator has been steadily sinking since March. This indicates that the volume of selling transactions has consistently outweighed buying volumes on days when Optimism’s price increased.
The Supertrend indicator has also flashed a sell signal, suggesting that it may be unwise for investors to engage in long positions at present. Moving averages further indicate bearish momentum.
Despite this bearish outlook, there is a glimmer of hope for lower timeframe traders. In the last couple of days, Optimism’s market structure transitioned into a bullish pattern (white). It is possible that a buying opportunity may emerge around $0.56 in the short term.
However, it is crucial to recognize that the broader trend remains bearish. As such, investors considering a long position should set tight stop losses to limit potential losses.
Source: ambcrypto.com
