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Optimism Corrects After $0.88 Rejection — Consolidation Likely

I see Optimism (OP) slipping about 10.81% to $0.76 after being rejected near the $0.88 resistance level despite Season 8 momentum. The failure to clear that level and the sharp pullback point to a short-term correction.

Technical indicators are mixed and suggest consolidation rather than a clear trend continuation. Traders should expect sideways action near recent support levels and watch volume and momentum for a convincing reversal before adding exposure.

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Analysis

OP’s rejection at $0.88 and a 10.81% drop to $0.76 indicate waning bullish momentum; mixed indicators imply price may range or retest nearby support rather than resume a clear uptrend immediately.

Recommendation

Wait for confirmation of support or a clear bullish reversal before buying. Avoid initiating large new long positions; consider scaling in only on confirmed strength or on a tested support with low do...

Disclaimer

The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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