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Key Moments

  • Dash (DASH), Story (IP), and Optimism (OP) have extended Tuesday’s strong advance, though gains have eased on Wednesday.
  • Bitcoin (BTC) climbed to $95,000 after US December CPI printed at 2.7% and core CPI at 2.6%, both slightly under market forecasts.
  • Technical setups for DASH, IP, and OP indicate firm buying interest, but key resistance levels threaten a short-term pullback.

Macro Backdrop: Bitcoin’s Breakout and CPI Surprise

Altcoins are at the forefront of the latest cryptocurrency upswing, with Dash (DASH), Story (IP), and Optimism (OP) standing out over the last 24 hours. These tokens are retaining a significant portion of Tuesday’s rally but are showing signs of moderating on Wednesday, leaving room for a possible retracement.

The broad-based move in digital assets has accompanied Bitcoin’s (BTC) push to $95,000 after December US Consumer Price Index (CPI) data came in at 2.7% and core CPI at 2.6%, both marginally lower than market expectations. The figures indicate a gradual easing in inflation, reducing immediate pressure on the Federal Reserve (Fed) to implement interest rate cuts.

Dash (DASH): Holding Sharp Gains Above $50

Dash is trading above $50 at press time on Wednesday, consolidating nearly 50% gains recorded on Tuesday. The privacy-focused token is struggling to extend the advance beyond $60, where it is meeting resistance at the R2 Pivot Point at $61.

A decisive move above $61 would open the way toward the R3 Pivot Point at $70.

LevelPriceRole
R3 Pivot Point$70Upside target if resistance breaks
R2 Pivot Point$61Immediate resistance
R1 Pivot Point$51Near-term support

Momentum indicators on the daily chart underscore strong buying interest. The Relative Strength Index (RSI) stands at 67, close to the overbought threshold, while the Moving Average Convergence Divergence (MACD) is advancing with consistently rising histogram bars, signaling strengthening bullish momentum.

On the downside, the R1 Pivot Point at $51, which is close to the $50 psychological area, may act as initial support if prices retreat.

Story (IP): Rally Pauses Near the 200-Day EMA

Story is down 3% at the time of writing on Wednesday, cooling after a 36% surge on Tuesday. The meme coin is encountering resistance at the 200-day Exponential Moving Average (EMA) at $4.10, which is containing price action above the $4.00 round number.

A breakout above the 200-day EMA at $4.10 and the November 12 high at $4.31 would pave the way for a potential move toward $7.11, a level last reached on October 14.

LevelPriceRole
200-day EMA$4.10Key resistance
November 12 high$4.31Breakout confirmation level
October 14 high$7.11Next upside objective
November 6 low$3.26Potential support on reversal

Technical readings on the daily timeframe show pronounced upward momentum. The RSI at 83 is deep in overbought territory, while both MACD and signal line are rising, accompanied by steadily increasing green histogram bars, reflecting robust bullish sentiment.

If the price reverses from around the $4.00 area, the move could revisit the November 6 low at $3.26.

Optimism (OP): Consolidating After an 18% Jump

Optimism is trading comfortably above $0.3600 at press time on Wednesday, following an 18% advance in the prior session. The layer-2 token is edging toward the October 17 low at $0.3944, which is close to the $0.4000 psychological barrier.

Should OP break above the $0.4000 area, it could target the $0.4561 level, which constrained a rebound in mid-November.

LevelPriceRole
Round figure$0.4000Key resistance
October 17 low$0.3944Nearby resistance zone
Mid-November cap$0.4561Next upside target
November 3 low$0.3429Support if price pulls back

In line with Dash, Optimism’s RSI at 68 and the steady upward movement in MACD highlight persistent buying pressure.

If OP fails to hold current levels and reverses course, it may find support at the November 3 low of $0.3429.

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