5 Best Altcoins To Watch Today August 31 – Aave, ORDI, FLOKI, Optimism

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Aug 31 2024

OP-2.967%

ORDI-2.666%

AAVE-1.478%

Should l Buy OP?

Crypto and AI Convergence: Brian Armstrong, CEO of Coinbase, highlights the potential of merging cryptocurrency with artificial intelligence, while Bitget prepares to list Hamster Kombat's token, HMSTR, expanding its global reach. Ripple Labs encourages local banks to leverage global payment challenges for SME growth, maintaining investor optimism in the crypto market.
Top Altcoins to Watch: Aave is integrating BlackRock’s tokenized fund, boosting its price, while ORDI has surged 638% over the past year despite recent lows. The Meme Games project is gaining traction ahead of the 2024 Paris Olympics, FLOKI shows signs of recovery after a price drop, and Optimism is experiencing bullish momentum, potentially reaching $2 soon.

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Technical Analysis for OP

Technical Sentiment Analysis for Optimism (OP) As of , Optimism (OP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for OP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, OP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Optimism (OP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0499	0.104	0.156	0.21	0.262	0.316	0.368
Fibonacci	0.104	0.144	0.169	0.21	0.251	0.276	0.316

About OP

Optimism (OP) is a layer-two blockchain on top of Ethereum. Optimism benefits from the security of the Ethereum mainnet and helps scale the Ethereum ecosystem by using optimistic rollups. That means transactions are trustlessly recorded on Optimism but ultimately secured on Ethereum.Optimism is one of the biggest scaling solutions for Ethereum with over $500 million in TVL. It is home to 97 protocols, the biggest being Synthetix (SNX), a derivatives exchange, Uniswap (UNI), a DEX, and Velodrome (VELO), an AMM. Users can begin their journey on Optimism by adding the chain on their Metamask and bridging tokens like ETH to the L2. On May 31, 2022, Optimism conducted a highly anticipated airdrop of its OP token.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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