Optimism (OP) Rises 4.16%, Outperforms the Crypto Market Wednesday
Wednesday, May 17, 2023 11:56 AM | InvestorsObserver Analysts
Optimism (OP) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Wednesday, the crypto has gained 4.16% to $1.69.
InvestorsObserver is giving Optimism a 42 Volatility Rank. Find out what this means to you and get the rest of the rankings on Optimism!
InvestorsObserver gives Optimism a moderate volatility rank of 42, placing it in the bottom 42% of cryptos on the market.
The Volatility Gauge follows which means that one day won't define its volatility rank - a trend will.
OP's moderate volatility reading pairs 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 trading above resistance. With support at $1.6 and resistance around $1.65. This leaves Optimism out of range and potentially in a volatile position if the rally burns out.
What is a Token?
Tokens are digital assets that exist on another cryptocurrency's blockchain.
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