- Bullish OP price prediction for 2024 is $4.224 to $6.448.
- Optimism (OP) price might reach $10 soon.
- Bearish OP price prediction for 2024 is $1.985.
In this Optimism (OP) price prediction 2023, 2024-2030, we will analyze the price patterns of OP by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
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TABLE OF CONTENTS |
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INTRODUCTION |
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OPTIMISM (OP) PRICE PREDICTION 2024 |
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| OPTIMISM (OP)PRICE PREDICTION 2025, 2026, 2027-2030 |
| CONCLUSION |
| FAQ |
Optimism (OP) Current Market Status
| Current Price | $3.20 | 24 – Hour Price Change | 6.03% Up |
| 24 – Hour Trading Volume | $205,308,255 |
| Market Cap | $3,068,136,916 |
| Circulating Supply | 957,378,568 OP | All – Time High | $4.57 (On May 31, 2022) |
| All – Time Low | $0.4005 (On Jun 19, 2022) |
What is Optimism (OP)
| TICKER | OP |
| BLOCKCHAIN | Optimism blockchain |
| CATEGORY | Public blockchain platform |
| LAUNCHED ON | May 2022 |
| UTILITIES | Governance, Fast Transactions, gas fees & rewards |
Optimism (OP) is a layer-two blockchain on top of Ethereum. Optimism benefits from the security of the Ethereum mainnet and helps scale the Ethereum ecosystem by using optimistic rollups. It is one of the biggest scaling solutions for Ethereum with over $300 million in TVL. Optimism is led by the Optimism Foundation, a nonprofit organization dedicated to growing the Optimism ecosystem. Furthermore, it aims for the minimum number of moving parts while building a layer-two solution for Ethereum.
Optimism 24H Technicals
(Source: TradingView)
Optimism (OP) Price Prediction 2024
Optimism (OP) ranks 25th on CoinMarketCap in terms of its market capitalization. The overview of the Optimism price prediction for 2024 is explained below with a daily time frame.
OP/USDT Rounding Bottom Pattern (Source: TradingView)
In the above chart, Optimism (OP) laid out a rounding bottom pattern. The price movements form a pattern that resembles a bow and hence is also known as the saucer bottom pattern. In general, the rounding bottom pattern indicates a long-term price reversal. This pattern also emphasizes the changes in the market sentiment as the trend seems to shift from bearish to bullish. Investors generally have to stay cautious and time the market well. If the price breaks and moves past the resistance level, it will enter a confirmed bullish trajectory.
At the time of analysis, Optimism (OP) was recorded at $3.20. If the pattern trend continues, then the price of OP might reach the resistance levels of $3.676 and $10.614. If the trend reverses, then the price of OP may fall to the support of $1.150.
Optimism (OP) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Optimism (OP) in 2024.
OP/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Optimism (OP) for 2024.
| Resistance Level 1 | $4.224 |
| Resistance Level 2 | $6.448 |
| Support Level 1 | $2.948 |
| Support Level 2 | $1.985 |
OP Resistance & Support Levels
Optimism (OP) Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin (OP) are shown in the chart below.
OP/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Optimism (OP) market in 2024.
| INDICATOR | PURPOSE | READING | INFERENCE |
| 50-Day Moving Average (50MA) | Nature of the current trend by comparing the average price over 50 days | 50 MA = $3.315Price = $3.134 (50MA>Price) |
Bearish/Downtrend |
| Relative Strength Index (RSI) | Magnitude of price change;Analyzing oversold & overbought conditions | 50.414 <30 = Oversold 50-70 = Neutral>70 = Overbought |
Neutral |
| Relative Volume (RVOL) | Asset’s trading volume in relation to its recent average volumes | Below cutoff line | Weak volume |
Optimism (OP) Price Prediction 2024 — ADX, RVI
In the below chart, we analyze the strength and volatility of Optimism (OP) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
OP/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Optimism (OP).
| INDICATOR | PURPOSE | READING | INFERENCE |
| Average Directional Index (ADX) | Strength of the trend momentum | 15.354 | Weak Trend |
| Relative Volatility Index (RVI) | Volatility over a specific period | 55.87
<50 = Low |
High volatility |
Comparison of OP with BTC, ETH
Let us now compare the price movements of Optimism (OP) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs OP Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of OP is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of OP also increases or decreases respectively.
Optimism (OP) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Optimism (OP) between 2025, 2026, 2027, 2028, 2029, and 2030.
| Year | Bullish Price | Bearish Price |
| Optimism (OP) Price Prediction 2025 | $12 | $1.5 |
| Optimism (OP) Price Prediction 2026 | $14 | $1.4 |
| Optimism (OP) Price Prediction 2027 | $16 | $1.3 |
| Optimism (OP) Price Prediction 2028 | $18 | $1.2 |
| Optimism (OP) Price Prediction 2029 | $20 | $1.1 |
| Optimism (OP) Price Prediction 2030 | $22 | $1 |
Conclusion
If Optimism (OP) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Optimism (OP) price prediction for 2024 is $6.448. If unfavorable sentiment is triggered, the bearish Optimism (OP) price prediction for 2024 is $1.985.
If the market momentum and investors’ sentiment positively elevate, then Optimism (OP) might hit $10. Furthermore, with future upgrades and advancements in the Optimism ecosystem, OP might surpass its current all-time high (ATH) of $4.57 and mark its new ATH.
FAQ
1. What is Optimism (OP)?
Optimism is a fast, stable, and scalable L2 blockchain designed by Ethereum developers for Ethereum developers.
2. Where can you buy Optimism (OP)?
Traders can trade Optimism (OP) on the following cryptocurrency exchanges such as Binance, WEEX, LBank, Bybit, and OKX.
3. Will Optimism (OP) record a new ATH soon?
With the ongoing developments and upgrades within the Optimism platform, Optimism (OP) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Optimism (OP)?
Optimism (OP) hit its current all-time high (ATH) of $4.57 on June 01, 2022.
5. What is the lowest price of Optimism (OP)?
According to CoinMarketCap, OP hit its all-time low (ATL) of $0.4005 On June 19, 2022.
6. Will Optimism (OP) hit $10?
If Optimism (OP) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $10 soon.
7. What will be the Optimism (OP) price by 2025?
Optimism (OP) price might reach $12 by 2025.
8. What will be the Optimism (OP) price by 2026?
Optimism (OP) price might reach $14 by 2026.
9. What will be the Optimism (OP) price by 2027?
Optimism (OP) price might reach $16 by 2027.
10. What will be the Optimism (OP) price by 2028?
Optimism (OP) price might reach $18 by 2028.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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- Source: https://thenewscrypto.com/optimism-op-price-prediction-2023/
