Optimism and Chainlink Exhibit Weak Momentum as Open Interest Stalls

The Optimism (OP) token is trading near 0.32 USDT, showing a modest 1.87% increase over the past 24 hours, but derivatives data reveals aggregated open interest holding at approximately 49.92 million, signaling subdued appetite for leveraged positions.

Market capitalization stands at 615.56 million USDT with a daily volume of 68.70 million USDT, and the price is confined to a narrow band between 0.31 USDT and 0.33 USDT, reflecting persistent market indecision and a pattern of lower highs.

Concurrently, Chainlink (LINK) has stabilized around $12.89, up 2.58% daily, with open interest flattening near 226.3 million after a decline, indicating trader caution and reduced speculative activity.

LINK's market cap is $9.00 billion, and daily volume ranges from $650–657 million, but technical indicators such as MACD and RSI—with RSI at 36—point to weak momentum, just above oversold levels, reinforcing a neutral to bearish bias.

Both assets struggle to reclaim higher resistance levels, with open interest failing to expand, underscoring a fragile market structure and limited bullish conviction among participants.