The Optimism (OP) price has increased since breaking out from a 260-day descending resistance trend line in October.

The upward movement took OP to a key horizontal resistance area. Will the price break out?

Optimism Gradually Approaches $2

The OP price had decreased under a descending resistance trend line since its all-time high price of $3.30 in February. The downward movement led to a low of $0.90 in June. Afterward, the altcoin bounced and created a higher low in October.

After four unsuccessful breakout attempts, OP finally broke out from the trend line in October. At the time, the trend line had been in place for 260 days. The OP price increase culminated with a high of $1.93 last week.

Despite the increase, OP did not break out from a key horizontal resistance area, which has intermittently acted as both support and resistance since June 2022.

Market traders use the

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Author: Valdrin Tahiri

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