Market Overview: Optimism/Tether (OPUSDT) on 2026-01-13

Summary
• Price dropped to $0.3085 before reversing higher, forming a bullish hammer near the 24-hour low.
• Volatility surged with a 35.9% range, indicating increased short-term uncertainty.
• RSI bottomed near oversold territory and rebounded, suggesting potential near-term buying pressure.
• Volume spiked during the rally, confirming the strength of the reversal.
• Bollinger Bands widened significantly, signaling heightened market volatility.

Market Overview

Optimism/Tether (OPUSDT) opened at $0.3180 on 2026-01-12 at 12:00 ET, reached a high of $0.3573, fell to a low of $0.3085, and closed at $0.3547 by 12:00 ET on 2026-01-13. The 24-hour volume totaled 12,993,488.51 OPT and notional turnover was $4,247,668.74.

Price Structure and Candlestick Patterns

The price swung sharply lower during the early New York session, forming a key low at $0.3085, followed by a strong reversal and a bullish hammer pattern. This suggests short-term support may be holding. The price later moved higher during a surge in volume, with a bullish engulfing pattern forming from $0.3465 to $0.3573 in the afternoon. The 5-minute chart showed increasing buying pressure, especially after hitting the daily low.

Moving Averages and Momentum

The 20- and 50-period SMAs on the 5-minute chart crossed to the upside after the reversal, confirming a potential short-term shift in trend. On the daily chart, the price traded above its 50-day and 200-day SMAs, maintaining a medium-term bullish bias. The MACD turned positive during the afternoon rally, aligning with the upward move, while RSI bottomed near 28 before rebounding into neutral territory, indicating potential for further short-term gains.

Volatility and Bollinger Bands

Bollinger Bands expanded significantly following the early price drop, with volatility reaching multi-day highs. The price bottomed near the lower band at $0.3085 and then surged well above the upper band in the afternoon, signaling a breakout in volatility. This suggests market uncertainty, but also momentum following the key support level.

Volume and Turnover Analysis

Volume surged during the afternoon rally, especially around the $0.33–$0.35 range, confirming the strength of the move higher. Turnover also increased, reaching a peak near $0.3482 with a block of $296,679.52 in a 5-minute candle. Price and turnover were in alignment during the bullish move, reinforcing the strength of the reversal.

Fibonacci Retracements

A 5-minute swing from $0.3085 to $0.3573 saw price retest the 61.8% Fibonacci level at $0.3340 before continuing higher, suggesting a strong short-term bias to the upside. On the daily chart, the 61.8% retracement of the broader move from $0.3085 to the high of $0.3573 may now act as a key resistance level at around $0.3380 if the upward trend continues.

Over the next 24 hours, Optimism/Tether appears poised for a test of key resistance levels as momentum and volume remain aligned with the bullish move. However, traders should remain cautious of a potential pullback near the $0.3380–$0.3420 range or if volume fails to confirm further upside.