Bitcoin and alternative cryptocurrencies have shown promising signs as investors in Asia begin their day. The possibility of BlackRock (IBIT) experiencing a net inflow exceeding $31.3 million could potentially halt the outflow trend that commenced on March 18, potentially leading to an upsurge in altcoin prices.

OP Coin Analysis

At present, the price of OP Coin hovers around $3.8, maintaining a positive trend for the day. Bitcoin is valued at $70,200, and the market is currently optimistic, anticipating the conclusion of the ETF outflow trend. Despite OP Coin's price rising by close to 10% on March 25, this increase has not entirely satisfied investors.

The MVRV ratio stands above 10%, indicating a potential rise in trading volume. This suggests that investors anticipate further price increases. Historically, investor profits ranging from 3% to 9% have often led to swift sell-offs.

The primary obstacle to reaching higher price targets lies in the 95 million OP Coins acquired within the $3.87 to $4.85 range. If investors can hold onto this $361 million asset profitably during the rally, there is potential for new highs, especially with a rise in BTC prices.

OP Coin Price Forecast

In addition to the optimistic outlook outlined earlier, there exists a possibility of a downturn. Failure of BTC to gain expected momentum in the near future could lead to OP Coin's price dropping to $3.4. In a scenario where selling intensifies, declines to $3.2 could be deemed reasonable.

A significant point of interest for those anticipating an upswing is the golden cross pattern observed on the 4-hour chart. This pattern, known for signaling major rallies, occurs when the 50-day Exponential Moving Average (EMA) crosses above the 200-day EMA.

During the last golden cross occurrence, the price of Optimism surged by around 20%. If a similar trend emerges this time, pushing the price towards $4.5 could establish $4 as a support level. Given that this pattern has reappeared after two months, the optimistic scenario may warrant further consideration. However, predicting the future remains uncertain, prompting investors to conduct their assessments and devise strategies accordingly.