Despite the unfortunate circumstances in the cryptocurrency market resulting from the FTX exchange collapse, the positive sentiment around Optimism, a layer-2 scaling solution, is growing.
The coin currently trades slightly beneath $1.00 and faces strong resistance at $1.40. However, if it breaks the resistance, it can surge up to $2 with little additional resistance along the way.
Interestingly, Optimism isn’t the only token with a positive bullish sentiment emerging in the industry. We’ve found five other tokens with solid potential to follow the same trend as Optimism.
Optimism Sees Resistance at $1.4 – Future Price Prediction.
Optimism is ranked in the top 120 cryptocurrency projects as it currently holds a $200 million market cap. This is a highly respectable position in the rankings, considering that the coin only launched trading in June 2022.
Optimism is a layer-2 blockchain scaling solution for Ethereum. It is designed to help decentralized applications scale to a level of mass adoption. The project integrates the stability of Ethereum while producing speeds that are ten times faster than the layer-1 blockchain.
The price for OP, the token behind Optimism, is currently sitting at $0.95 and is facing strong resistance at $1.40.
OP started November on a very bullish note as it broke above the October 2022 highs and attempted to break $1.40. However, any chance of penetrating the level was destroyed by the cryptocurrency market collapse, resulting from the fallout of the FTX exchange breakdown.
As a result, OP fell from $1.40 to reach as low as $0.78 during the collapse. However, it has since recovered as it heads back toward $1.00.
Nevertheless, a break above $1.40 could begin a strong trend higher for Optimism with little resistance to $2.00 – the highest closing price for the token.
A break above $2.00 will open the door for OP to create new highs for the token. In this case, additional resistance above $2.00 is expected at $2.40, $2.60, and $3.00.
One of the key metrics to watch for Optimism is tracking how much TVL is in the project. It is an excellent measure of how much activity is happening on the blockchain. For example, data from DeFiLama shows that there is currently $565 million in total value locked on the network.
This will be the first metric to watch in anticipation of a break back above $1.00 and $1.40. If the TVL starts to increase, it will be a strong signal that the price of OP is ready to tackle the $1.40 resistance.
5 Tokens That Can Follow The Same Trend
Despite the recent bearish pressure, the outlook for Optimism still looks promising. However, it’s not only Optimism that looks to have a good upcoming few weeks. Here are five more tokens that can follow the same potential trend of Optimism.
1. Dash 2 Trade – Can Provide Serious Gains for Early Presale Investors
Another great token that can follow the positive trend of Optimism is the D2T utility token that powers a world-class crypto trading signals platform – Dash 2 Trade.
Dash 2 Trade is an analytics and intelligence platform designed to help traders take their profitability to the next level. The dashboard will provide actionable trading signals, price predictions, social analysis, presale analysis, and on-chain analysis to help traders make more informed decisions about their positions. It will also allow users to create and test new market-beating strategies.
⭐️ MARKET BEATING STRATEGIES ⭐️
✅The #D2T analytics platform actively encourages independent trading strategies.
✅Users will be able to directly test whether their thinking and strategy will perform in the market.
— Dash 2 Trade (@dash2_trade) November 15, 2022
Dash 2 Trade makes this list because it’s currently in the presale stages, so the token isn’t actively trading. However, the presale is quickly selling out, and the token sale is staggered over different stages, which see increasing prices. As a result, people buying the token in the early stages are pretty much guaranteed profit when the presale is complete and the token launches on tier-1 exchanges.
Dash 2 Trade has already managed to raise over $6 million since launching the presale at the tail end of October – all during one of crypto’s most devastating bear markets.
The presale is now in the third stage and selling D2T for $0.0513;
Once this stage is complete, the price will increase to $0.0533. After that, the price will continue to rise during each consecutive stage, with the final stage being priced at $0.0622. This means that early adopters can already bank profits once the token launches on exchanges.
Investors are piling into the presale due to the successful track record of the team behind Dash 2 Trade. Previously, the team created Learn 2 Trade – an FX signal and education platform – which managed to attract over 70,000 users.
The same team has now partnered with profitable crypto traders, quants, and AI developers to deliver a crypto trading dashboard and ecosystem to replicate the success of Learn 2 Trade in the crypto sector. They are backed by quant developers and high-profile venture capitalists and have all the expertise necessary to deliver a fantastic project with real utility.
2. Cardano – Sees Resistance at $0.44 With Scope to Climb to $0.9
Cardano might be severely underwater, trading at levels not seen since January 2021. However, the token still shows a lot of promise for the future. Besides being led by a strong and highly experienced team, which includes some of the co-founders of Ethereum, Cardano is one of the notable Ethereum competitors that still need to see its ecosystem flourish.
The Cardano blockchain is a peer-reviewed proof-of-stake chain that claims to have a higher throughput when compared to its competitors. The only problem is that it’s taken a long time to get to its current position, and its ecosystem is just starting to emerge.
The project enacted the Alonzo hard fork earlier in the year, allowing developers to start building on top of the blockchain. Now, decentralized applications can be deployed on the network, allowing the ecosystem to expand.
As some of these new applications start to gain traction, the price of Cardano is likely to trend higher.
The ADA token is trading beneath $0.35, with strong resistance at $0.44 – the October and November highs.
If ADA can tackle the resistance at $0.44, then it has the potential to surge toward $0.9.
3. Tamadoge – Has Unlimited Growth if it Can Break $0.04
Another token that can follow the same bullish trend as Optimism is the Tamadoge P2E memecoin token, TAMA.
Tamadoge is a memecoin ecosystem that can provide utility for its holders and is often touted as the next Dogecoin or Shiba Inu. It is a fun play-to-earn game that everybody can play, regardless of their interest in cryptocurrency.
The P2E game allows users to breed, train, and battle Tamadoge NFT pets to earn points and climb a leaderboard. The player that tops the leaderboard each month can claim the funds in the prize pool.
The TAMA token soared onto the crypto scene with a huge reception, which resulted in the token surging by over 900% to reach a high of $0.2. For early presale investors, TAMA produced an 18x return. Since then, TAMA has retraced as the overall cryptocurrency industry collapsed, and it’s now trading at $0.025;
If TAMA can overcome immediate resistance at $0.032 and then surge above $0.04 – the future growth for the token is practically unlimited. Beyond $0.04, there is little resistance up to $0.2 again, which would produce significant gains for buyers.
The Tamadoge ecosystem itself is still flourishing. The project recently crossed the 27,000 holders mark as investors continue to pour in;
— Carl Dawkins (@CarlDawkinz) November 14, 2022
Furthermore, the token continues to be added to top-tier exchanges in the industry. Tamadoge is already listed on OKX, MEXC, Lbank, Coinex, and Bit.com. It was also recently listed on Gate.io;
⏰Trading Starts: 10:00 AM, November 10 (UTC)
— Gate.io Startup (@Gateio_Startup) November 10, 2022
In addition, investors eagerly anticipate the official release of the P2E game and believe this might be the catalyst for a considerable surge beyond the previous all-time high levels. The developers recently released an update stating that the game is very close.
Overall, Tamadoge certainly has the potential to follow the Optimism trend once it overcomes its resistance.
4. IMPT – Environmentally Focused Project Ready to Turn Crypto Green
Another presale worth mentioning that has the potential to turn extremely bullish upon completion is IMPT, a project with a mission to help individuals and businesses reduce their carbon footprint.
IMPT is a carbon credit market that intends to make it straightforward for people who want to offset their carbon footprint securely. The team believes that everybody should be able to contribute positively to the environment, regardless if they can enter the convoluted carbon credit market.
🤯 Climate Fact Of The Day:
CO2 emissions in 2022 are 1.2% above the levels recorded during the same period in 2019 😔
♻️ We have to be accountable! ♻️
— IMPT.io (@IMPT_token) November 14, 2022
A carbon credit is a permit representing one ton of carbon dioxide being removed from the atmosphere. Large enterprises have regulatory requirements to offset their carbon emissions by purchasing carbon credits. However, small businesses and individuals don’t have the option to offset their carbon footprint easily. This is what IMPT is trying to change.
The IMPT presale has gathered significant traction and has raised almost a total of $13 million since launching;
Like the D2T presale, IMPT also utilizes an increasing pricing mechanism after each stage is sold out – meaning early investors will come out of the presale with profit once it’s launched on exchanges.
When you invest in $IMPT, you
✅ reduce ocean acidification
✅ contribute to less coral bleaching
✅ make a step toward saving crop yield
🔥 We have already raised over $12 Million!
— IMPT.io (@IMPT_token) November 12, 2022
IMPT has been gaining a lot of attention recently due to its ability to onboard high-profile world-famous brands to its Shopping Platform. The platform allows shoppers to earn carbon credits as cashback when shopping online. Global brands have allocated a specific margin percentage to environmental projects such as IMPT. The sales margin is held in a shopper’s account in IMPT tokens until they have enough to claim a carbon credit.
So far, IMPT has managed to onboard brands such as Samsung, Netflix, The North Face, Puma, Champion, Hugo Boss, Shop Disney, and Microsoft. After learning about these brands, investors eagerly anticipate the scope of growth once the presale finishes.
5. Chainlink – Potential 100% Surge After $9.50 Resistance
The last token that can follow the same trend as Optimism is Chainlink. The cryptocurrency might be down by a severe 80% over the past year, but the project is backed by solid fundamentals and is a cornerstone of the DeFi industry.
Chainlink helps projects bring off-chain data back onto the blockchain to be used as execution triggers in smart contracts. For example, it allows DeFi applications to get data such as pricing, weather, and event results onto their blockchains as triggers for specific functions.
The cryptocurrency is currently trading beneath $7 with solid resistance at $9.50;
The resistance at $9.50 prevented the market from surging in August and early November. Once this resistance is removed, Chainlink can surge up toward $18 with little resistance – resulting in a potential 100% surge if $9.50 is cleared.
The overall market might be in a depressed state, but the six projects listed above are certainly worth keeping on your watchlist over the coming weeks.