The post OP Price Holds $0.72 While Trendline Resistance Limits Breakout Potential appeared on BitcoinEthereumNews.com.

Optimism is currently grappling with a critical resistance level that is constraining its bullish momentum. Recent technical charts reveal a market caught between support and resistance, with price action consolidating near $0.72 and a descending trendline putting a lid on upward moves. Traders looking for a breakout need to keep a close eye on key technical signals that could determine the token’s trajectory soon. Chart Highlights Resistance at Descending Trendline According to analysis by Shango (@ShangoTrades), the 4-hour chart shows OP consolidating just below a descending trendline, a clear indicator of short-term bearish control. Price action repeatedly fails to close above this resistance, limiting upside potential. Shango points out that a decisive candle close above this trendline could unlock gains toward the $0.74 to $0.75 range, aligning with important prior supply zones. Source: X However, without this breakout, the asset risks revisiting support between $0.69 and $0.70. Volume has thinned considerably compared to previous swings, raising concerns of a possible false breakout. Presently, the token is trapped in a compressed trading range, with uncertainty dominating until a clear directional move emerges. Market Data Shows Tight Range and Steady Volume Market data from BraveNewCoin shows OP trading near $0.72 with a minor 0.47% decline over 24 hours and volume averaging $155 million. Such tight price action within the $0.71 to $0.72 band points to low volatility and subdued trading interest. Source: BraveNewCoin With around 1.75 billion tokens circulating and a market cap of roughly $1.25 billion, the token remains a mid-cap altcoin with solid liquidity. Its muted price response compared to wider market rallies suggests conservative demand. Technical momentum lacks strength above $0.72, though volume spikes signal speculative trading. To confirm a bullish resurgence, daily volume would likely need to ramp above $200 million, signaling broader market engagement. Daily Chart Displays…

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Filed under: News - @ August 22, 2025 5:29 pm