Market Overview for Optimism/Tether (OPUSDT) on 2026-01-07

Summary
• OPUSDT tested key support near $0.314–0.316 but bounced with bullish volume.
• Strong RSI divergence and rising 20-period MA suggest potential near-term strength.
• Volatility expanded mid-day with a 5.6% intraday swing, ending in a consolidation phase.
• A bullish engulfing pattern formed near $0.319–0.321 following the sharp selloff.
• Turnover surged during the 4–6 PM ET rebound, hinting at renewed buyer interest.

Optimism/Tether (OPUSDT) opened at $0.3225 on 2026-01-06 12:00 ET and traded to a high of $0.3332 before hitting a low of $0.3137. The pair closed at $0.3168 on 2026-01-07 12:00 ET. Total volume for the 24-hour period was 10.36 million contracts, with a notional turnover of $3.35 million.

Structure & Key Levels

The price found strong support in the $0.314–0.316 zone, with a bullish reversal occurring after a deep 4.2% drop. A bullish engulfing pattern emerged as buyers reclaimed the $0.319–0.321 area, suggesting short-term buyers may have taken control. The 20-period MA turned upward after 8 PM ET, aligning with the consolidation and hinting at a possible continuation higher.

Momentum and Volatility

Relative Strength Index (RSI) showed oversold conditions below 30 during the 4–5 PM ET selloff but diverged positively as price stabilized. Momentum appears to have shifted to buyers, supported by rising volume and tighter Bollinger Bands in the final hours of the period. Volatility expanded mid-day, with a high-low range of $0.0196, but has since contracted into a more defined trading range.

Volume and Turnover Analysis

Turnover spiked during the 4–6 PM ET rebound, particularly in the $0.315–0.318 range, showing strong buyer participation. However, volume dipped during the consolidation phase, indicating a potential tug-of-war between buyers and sellers. No notable divergence was observed between price and volume in the last 3 hours.

Forward-Looking View

With the 20-period MA rising and RSI showing early bullish divergence, OPUSDT may test the $0.325–0.327 resistance zone in the next 24 hours. However, a breakdown below $0.314 could reignite selling pressure, particularly if volume rises on the next leg down. Investors should monitor price action around $0.319 for confirmation of a sustained recovery.