Optimism Price Plunges as Bearish Momentum Persists

Optimism's (OP) price has dropped 7.93% to $0.1345, leaving it below its short- and medium-term moving averages but still above long-term support levels.

The asset completed its Upgrade 20 on September 25, which moved the OP Stack's fault proof system to a multi-chain super root for expanded interoperability and set the stage for future cross-chain messaging capabilities.

Despite the upgrade, Optimism is trading with short- and medium-term bearish momentum, with a projected range of $0.129 to $0.1431 and a 75% probability for further downside.