Optimism Price Analysis.

Optimism Price Analysis.

The third-biggest layer-2 network prepares to unlock tokens worth over $53 million or 1.48% of the float. It now has over 1.35 billion tokens in circulation against a total supply of 4.29 billion.

Optimism’s unlock comes when the token has been under pressure in the past few months. It has dropped to a low of $1.6295, down by 40.7% from its highest level in November. 

Optimism is hovering at the key support at $1.6076, where it failed to move below since Dec. 20. It has also formed a symmetrical triangle pattern. Therefore, a break below that level will likely point to more downside, potentially to $1.30, its lowest swing in November last year.

The third-biggest layer-2 network prepares to unlock tokens worth over $53 million or 1.48% of the float. It now has over 1.35 billion tokens in circulation against a total supply of 4.29 billion.

Optimism’s unlock comes when the token has been under pressure in the past few months. It has dropped to a low of $1.6295, down by 40.7% from its highest level in November. 

Optimism is hovering at the key support at $1.6076, where it failed to move below since Dec. 20. It has also formed a symmetrical triangle pattern. Therefore, a break below that level will likely point to more downside, potentially to $1.30, its lowest swing in November last year.

The third-biggest layer-2 network prepares to unlock tokens worth over $53 million or 1.48% of the float. It now has over 1.35 billion tokens in circulation against a total supply of 4.29 billion.

Optimism’s unlock comes when the token has been under pressure in the past few months. It has dropped to a low of $1.6295, down by 40.7% from its highest level in November. 

Optimism is hovering at the key support at $1.6076, where it failed to move below since Dec. 20. It has also formed a symmetrical triangle pattern. Therefore, a break below that level will likely point to more downside, potentially to $1.30, its lowest swing in November last year.