According to CoinGecko, the token is up more than 24% since last week which is currently supported by the strong bullish sentiment present within the market. Related Reading: Bitcoin Floor: CEO Predicts $38,000 Will Be The Lowest BTC Goes However, Optimism might have more surprises as the platform announces a major partnership that may turn the tide for Optimism with Sony entering the Web 3 and crypto space with Soneium, a venture with Startale Labs. Sony Enters Web 3 With Soneium In a press release yesterday, Sony announced the creation of Soneium, their first venture into the Web 3 and crypto space.
But OP’s high market correlation with BTC might be a double edged sword for the token. Related Reading: Floki Has More Room To Climb,’ Targets 96% Rally – Analyst As time progresses, BTC might face some resistance on its upward trajectory, possibly returning to sustainable levels in the short term.
Being in a narrow trading range, the bulls have little wiggle room to grab gains, moving the bullish breakthrough in the next few weeks or months. However, the positive developments might shorten this timeframe by a couple of days as long-term speculators enter the market.
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