Market Overview for Optimism/Tether (OPUSDT) – 2025-12-10

Summary
• Price tested key support near $0.3285, with a potential bullish reversal forming.
• RSI suggests overbought conditions near $0.3400, indicating possible near-term pullback.
• Volatility increased during the selloff, with volume surging at key price levels.

Optimism/Tether (OPUSDT) opened at $0.3434 on 2025-12-09 12:00 ET, reaching a high of $0.3484 and a low of $0.3278, and closing at $0.3290 by 2025-12-10 12:00 ET. Total volume over the 24-hour period was 10,007,821.96, with notional turnover at $3,294,607.

Structure & Moving Averages

Price action revealed key support near $0.3285, where a bullish reversal candle formed at 2025-12-10 11:45 ET. A bearish engulfing pattern was evident at $0.3400, suggesting short-term bearish momentum. On the 5-minute chart, the 20- and 50-period moving averages were in bearish alignment, while on the daily chart, the 50-period MA is approaching the 100-period MA, indicating a potential near-term consolidation phase.

Momentum and Volatility

Relative Strength Index (RSI) peaked near 70 at $0.3400, signaling overbought conditions and a probable near-term retracement. MACD crossed below the signal line during the selloff, reinforcing bearish momentum. . Volatility expanded as price dropped from $0.3400 to $0.3278, with Bollinger Bands widening, suggesting increased uncertainty. Price settled closer to the lower band at close, hinting at a possible bounce.

Volume and Divergence

Volume spiked during the selloff, particularly between 2025-12-09 20:30 ET and 2025-12-09 22:00 ET, with over $1.2M in turnover recorded. A divergence appeared between price and volume at the low of $0.3278, where volume declined despite a lower close, suggesting waning bearish conviction.

Fibonacci and Key Levels

A 61.8% Fibonacci retracement level from the swing high at $0.3484 to the low at $0.3278 resides near $0.3350, where price briefly found support. On the 5-minute chart, a 38.2% retracement level at $0.3385 appears to have capped a minor rebound, indicating possible resistance ahead.

The market appears to be consolidating following the recent sell-off, with key support at $0.3285 holding for now. A break below that level could test $0.3250, but a bounce above $0.3350 may signal a short-term recovery. Investors should remain cautious as momentum remains mixed and overbought conditions persist near key levels.