Optimism's Price Jumps After Mainnet Upgrade Announcement

Optimism (OP) is trading at $0.1041 after gaining 7.32% on the day, despite still being under pressure from longer-term moving averages.

The asset's OP Mainnet upgrade is set to reduce subblock confirmation times to 200 milliseconds starting August 31, improving transaction speed and network responsiveness.

The protocol update also includes adjustments to standard data feeds, omitting some placeholder values to streamline network operations.

According to technical analysis, the near-term momentum of OP diverges from long-term resistance, with buy signals rising as the asset trades above its short- and medium-term moving averages but below the MA-200.