28.07.2025 08:51

Optimism (OP), the Ethereum Layer 2 scaling solution, experienced a significant price surge following its listing announcement on Upbit, South Korea's premier cryptocurrency exchange. The news sparked a rapid 7.8% increase within a single hour, pushing the price to $0.808 – a 10% gain over the previous 24 hours and a phenomenal 303% jump in trading volume.

Upbit's official listing of OP, featuring trading pairs in Korean Won (KRW), Bitcoin (BTC), and Tether (USDT), went live at 16:30 KST on July 28th. While deposits via the Optimism network were immediately available, withdrawals were temporarily delayed until shortly after market opening. To mitigate potential volatility during the initial trading frenzy, Upbit implemented temporary restrictions, including a brief ban on buy orders and sell orders significantly below the closing price, along with a limit order-only period for the first two hours.

Technical analysis paints a picture of robust bullish momentum. OP's price aggressively approached the upper Bollinger Band at $0.831, currently trading near $0.808, indicating strong upward pressure, though also hinting at a possible resistance level. The 20-day moving average, providing strong support at $0.714 during the previous pullback, further solidifies this bullish sentiment. The Relative Strength Index (RSI) stands at 66.90, approaching overbought territory (70), yet still leaving room for further gains before a potential correction. Confirmation of this upward trend comes from the MACD, which has just crossed above its signal line, displaying a positive histogram. The confluence of these technical indicators strongly suggests continued upward price movement for OP in the short term. This information was gathered from various internet sources.