Optimism (OP) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Sunday, the crypto has dropped 1.85% to $1.17.
InvestorsObserver gives Optimism a moderate volatility rank of 70, placing it in the top 30% of cryptos on the market.
The Volatility Gauge tracks which means that one day won’t define its volatility rank – a trend will.
OP’s moderate volatility reading is paired with a low reading on the Risk/Reward Gauge, meaning that the token has moderate price swings and is well protected from price manipulation.
Optimism price is in a favorable position going forward. With support near $1.13 and resistance set at $1.2. This positions Optimism with room to run before facing selling pressures.
What is a Token?
Tokens are digital assets that exist on another cryptocurrency’s blockchain.
Stay In The Know
Subscribe to our daily morning update newsletter and never miss out on the need-to-know market news, movements, and more.