OP News 2030:Holds $ Holds 0.33 as Open Interest Softens and Market Cap Steadies After Multi-Month Decline
OP stabilized around $0.33 with a modest 2.71% gain, as open interest slightly decreased following a major sell-off.Summary
The Optimism (OP) token has shown a modest 2.71% gain over the last 24 hours, trading around $0.33, while its market capitalization stands at $633 million. Despite this short-term recovery, the broader trend remains weak following a multi-month decline culminating in an October capitulation event. On the 1-hour chart, OP experienced a sharp sell-off toward the $0.30 zone before entering a tight consolidation phase, currently struggling to break resistance near $0.34.
Open Interest (OI) reflects this caution; it fell sharply during the sell-off but climbed slightly during the rebound before recently retreating to 51.57 million, indicating that some long positions are being reduced. Technically, the daily timeframe shows a prolonged downtrend, with the MACD indicator remaining weak below the zero axis, suggesting stabilization rather than confirmed bullish strength. Furthermore, the Chaikin Money Flow (CMF) remains negative around -0.10, signaling continued capital outflows. Traders are watching for renewed liquidity and a sustained break above resistance to confirm a meaningful recovery from the recent lows.
(Source：Brave New Coin)