- Active addresses fell by more than 50%, but transactions that were kept above 900K, which indicates the user concentration.
- The influx of the exchange increased, while short liquidations enriched, which indicates possible sales pressure and volatility.
At the time of writing, Optimism [OP] acted at around $ 0.604. Daily active addresses on Optimism The last 24 hours increased by 26%, while transactions rose by almost 7%, which marked a surprising increase in short -term involvement.
Despite total ACTIVE addresses drop From 170k to 80k have transactions remaining Consistent above 900K for weeks, which indicates the demand for sustainable basic level.
However, it remains unclear whether this activity Burst will reflect a meaningful trend removal or simply short -term volatility.
This mismatch between daily involvement and wider user trends raises questions about long -term sustainability as the network tries to regain.
Rising Exchange Inflow – A quiet signal from …
In the last 24 hours, optimism recorded +662.57K in exchange inflow, with the 30-day figure on +1.6 million.
Although the token price has been weak, the consistent inflow of tokens suggests that some holders may prepare to sell.
This is in line with the concern about the declining participation of the user, as can be seen in the drop of address activity. That is why the growing inflow can reflect that the shifting sentiment among core participants.
If this trend persists, this downward pressure can exert on, especially in the absence of a strong purchase demand or new acceptance of users.
Source: Intotheblock
Can you survive on a breakdown on the $ 0.58 – $ 0.60 support zone?
A long -term support level has tested between $ 0.58 and $ 0.60, a range that has been firm for months.
Price promotion has repeatedly bumped from this area, making it a critical demand zone for bulls. However, momentum indicators such as the MACD remain flat and show a weak conviction of both buyers and sellers.
A clean demolition under this zone can cause accelerated losses, especially if the inflow to exchanges persists.
On the other hand, defending this level can offer a springboard for short -term repair. That is why the range of $ 0.60 remains a make-or-break zone for OP’s structure.
Source: TradingView
Will the bullish attitude of Binance Traders be sufficient to reverse the trend?
On Binance, 69.47% of the accounts stay on Opusdt for a long time compared to 30.53% short. This reflects a clear bullish bias, but one that has been weakened over time, a decrease of more than 80% earlier this month.
The decrease in long confidence suggests that traders are getting careful, despite the token trade near a historically strong level of support.
Moreover, the absence of clearly momentum makes it difficult for bulls to build a strong case.
Source: Coinglass
Do not have any steam on -short sellers?
At the time of the press, a significant imbalance saw in liquidations: $ 148.68k in short positions were wiped out, while only $ 26.29k in lungs were liquidated. This suggests that bears are increasingly vulnerable to sudden price peaks.
Moreover, short squeezing in the vicinity of strong support zones can often lead to sharp rebounds. If bulls succeed in retaining the level of $ 0.60, further short liquidations can feed a short rally.
However, the wider structure remains fragile and this pressure can only offer temporary lighting unless supported by stronger Fundamentals or user growth.
Source: Coinglass
While the daily user spike of optimism offers a short spark, wider signals remain uncertain. Persistent entering the exchange and a fragile technical setup remain pressure on the pressure.
Unless the network participation grows consistently and traders regain conviction, the recent increase could prove to be of short duration.
That is why the sustainability of recovery from on the question of whether this increase marks a real shift or just another volatile bouncing in a weakening market structure.
Credit : ambcrypto.com
