Market Overview for Optimism/Tether (OPUSDT) – 2025-09-19

• Optimism/Tether (OPUSDT) fell 8.9% over the last 24 hours, closing near 0.8026 after a sharp selloff from 0.8468.
• Key support tested at 0.8012–0.8061, while resistance appears at 0.8256–0.8332.
• High volatility and increased turnover confirmed bearish momentum.
• RSI (14) showed oversold conditions, suggesting a potential short-term bounce.
• Volume surged during the selloff, indicating increased distribution.

Optimism/Tether (OPUSDT) opened at 0.8224 at 12:00 ET − 1 and closed at 0.8026 by 12:00 ET today after hitting a high of 0.8468 and a low of 0.7925. Total volume over the 24-hour period was 34,332,258.04, with notional turnover reaching $27,568,428.16. The asset showed strong bearish momentum amid heightened volatility and increased turnover.

The structure of the 24-hour chart highlights a key bearish breakdown from the 0.83–0.8468 range, with key support levels at 0.8012–0.8061 and 0.7925–0.7955. A long lower wick and bearish engulfing patterns around 0.8332–0.8366 suggested rejection from key resistance levels. The price has tested the 0.8012 support twice, indicating a potential bottoming process if buyers hold the level.

Moving averages on the 15-minute chart showed a clear bearish crossover, with the 20-period line falling below the 50-period line. On the daily chart, the 50, 100, and 200-period SMAs all moved lower, reinforcing the downtrend. The price closed below the 50-period line, indicating further bearish pressure in the short term.

MACD for the 15-minute and daily charts showed bearish momentum, with the MACD line moving below the signal line and remaining in negative territory. RSI hit oversold conditions at 25–28 for much of the session, suggesting a possible short-term bounce. Bollinger Bands indicated a recent expansion in volatility, with the price currently trading near the lower band, a typical feature of overbought or oversold market conditions.

The notional turnover spiked during the selloff from 0.8332 to 0.7925, coinciding with increased volume, which indicates strong distribution. However, divergence between volume and price action was not observed, suggesting the trend remains intact. The price closed near the lower end of the bands, aligning with the bearish sentiment.

Fibonacci retracements drawn from the 0.7925–0.8468 swing show key levels at 0.8061 (38.2%) and 0.8256 (61.8%), both of which have acted as resistance. A bounce from the 0.8012 level could test the 0.8061–0.8102 range, but a retest of 0.7925 would signal a deeper correction.