Key takeaways
By the end of 2024, OP is expected to have a minimum and maximum price of about $2.66 and $2.96, respectively.
Optimism price prediction for 2027 suggests the token could reach a maximum value of $9.72.
In 2030, OP tokens will range between $24.72 to $30.50 with an average value of $25.43.
Optimism’s (OP) commitment to innovation is highlighted by its support for Layer-3 solutions. These solutions enable the development of decentralized applications (dApps) on top of Layer-2 chains, which contributes to the expansive Optimism Superchain.
The platform’s initiatives, including introducing custom gas tokens and Plasma mode aimed at reducing onboarding and operational costs, make it more accessible for new users and developers. As the market closely watches the price movements and growth trajectory of the token, can Optimism reach $10 soon?
Overview
CryptocurrencyOptimismTokenOPPrice$1.74Market Cap$1,938,015,986Trading Volume$178,252,455Circulating Supply1,255,070,491All-time High$4.85 (Mar 06, 2024)All-time Low$0.4005 (Jun 18, 2022)24- High$1.7724-h Low$1.69
Optimism price prediction: Technical analysis
MetricValueVolatility8.71%50-Day SMA$ 1.53620714-Day RSI45.82SentimentBearishFear & Greed Index41 (Fear)Green Days16/30 (53%)200-Day SMA$ 2.35
Optimism price analysis: OP price retreats to $1.74 as bears take control
TL;DR Breakdown
Optimism price analysis shows a bearish bias trend.
OP support is found at $1.69.
Resistance for OP is present at $1.77.
Optimism price analysis for October 16 is showing signs of a downtrend, as the price has been following a decreasing movement for the last 24 hours. The bears have taken control of the market, pushing prices down slightly. The selling pressure is increasing as the downward trend extends further, and the buyers are struggling to contain it. The price of OP is currently trading at $1.74. and is likely to continue its downward trend in the near future.
Optimism price analysis 1-day chart: OP price retreats to $1.74 as bears take control.
The 1-day Optimism price analysis shows that a drop in the price of OP could be imminent, as the bears are currently in control of the market. The red candlestick has been formed in the daily chart, indicating a bearish trend.
OP/USD 1-day price chart, Source: TradingView
On the technical front, the Relative Strength Index score is 54.89, which is a neutral figure and indicates that the bears are in control of this market. In addition, the histogram is in the negative zone, further confirming the bearish trend since a red bar is forming at the edge of the chart.
OP/USD 4-hour price chart: Bears drag price levels down to $1.74
The 4-hour Optimism price analysis shows a downward trend for the market as the selling momentum remained high during the day. The bears have successfully tackled unfavorable circumstances as the bullish current has been weakened in the 4-hour price chart. The red bars continue to stretch, indicating a bearish trend for the market in this time frame as well.
OP/USD 4-hour price chart, Source: TradingView
The Relative Strength Index score is 52.27, which further confirms that bears are dominating this market. On the other hand, the Moving Average Convergence Divergence (MACD) indicator is in the red zone, with the MACD line below the signal line. This shows strong bearish action.
Optimism technical indicators: Levels and action
Daily simple moving average (SMA)
PeriodValueActionSMA 3$ 1.581744SELLSMA 5$ 1.661822SELLSMA 10$ 1.736202SELLSMA 21$ 1.672689SELLSMA 50$ 1.536207BUYSMA 100$ 1.59266SELLSMA 200$ 2.35SELL
Daily exponential moving average (EMA)
PeriodValueActionEMA 3$ 1.633934SELLEMA 5$ 1.564981SELLEMA 10$ 1.48347BUYEMA 21$ 1.460108BUYEMA 50$ 1.57747SELLEMA 100$ 1.84568SELLEMA 200$ 2.15SELL
What to expect from Optimism price analysis next?
Optimism price analysis shows the sentiment in the market is bearish, and prices could continue to decline further if the support at $1.69 is breached. The bears have been successful in bringing the price down to the current levels, and it is likely to remain at this level or go further down in the near future. The technical analysis also confirms the bearish trend, and it is important for investors to remain cautious.
Is Optimism a good investment?
Optimism (OP) is a promising investment due to its role as a Layer 2 scaling solution for Ethereum, addressing transaction speed and cost issues. Its potential largely hinges on Ethereum’s growth and the rising demand for efficient scaling solutions. However, the cryptocurrency market’s volatility and increasing competition among Layer 2 solutions pose risks.
Will OP recover?
A recovery is possible, but we fear the overall bearish sentiment makes a short-term rebound unlikely. However, as the market consolidates, we expect reduced volatility may lead to a breakout in either direction depending on market dynamics.
Will Optimism reach $10?
Yes, Optimism is projected to close up on $10 by 2027.
Will OP reach $50?
Reaching $50 for Optimism (OP) would be an ambitious target, requiring a significant increase from its current price. This level current value would likely only be achievable in a highly favorable market environment, with substantial advancements in Ethereum adoption, widespread use of Layer 2 solutions, and strong overall market growth.
Will OP reach $100?
Reaching $100 for Optimism (OP) would be extremely ambitious and would require an unprecedented level of growth and adoption.
Does Optimism have a good long-term future?
Yes, Optimism shows strong potential for growth and sustained interest, indicating a positive long-term outlook.
Recent news/opinion on Optimism
Venus Protocol, a leading DeFi lending platform, is expanding to the Optimism Network.
The initial launch will support five key markets: WBTC, WETH, USDT, USDC (native), and OP, leveraging Optimism’s low-cost, high-speed transactions to enhance DeFi accessibility and cost-effectiveness.
This expansion positions Venus as a leader in Layer 2 DeFi innovation and aligns with Optimism’s $650 million TVL ecosystem. Venus Protocol is now available on six chains, including Optimism, and offers incentives like the Venus Prime program to users.
Optimism price prediction October 2024
For October 2024, Optimism price predictions suggest a potential low of $1.48, a potential average of $3.23, and a potential high of $4.98.
Optimism price predictionPotential LowPotential AveragePotential HighOptimism price prediction October 2024$1.48$3.32$4.98
Optimism price prediction 2024
The price of Optimism is predicted to reach at a minimum value of $2.66 in 2024. The Optimism’ price prediction for 2024 could reach a maximum value of $2.96 with the average trading price of $2.78.
Optimism price predictionPotential LowPotential AveragePotential HighOptimism price prediction 2024$2.66$2.78$2.96
Optimism price predictions 2025–2030
YearMinimum PriceAverage PriceMaximum Price2025$3.79$3.93$4.692026$5.61$5.76$6.532027$8.17$8.45$9.722028$11.94$12.28$14.622029$17.23$17.85$21.112030$24.72$25.43$30.50
Optimism price prediction 2025
In 2025 the price of Optimism is forecasted to be at around a minimum of $3.79. OP’s value can reach a maximum of $4.69 with the average trading value of $3.93.
Optimism price prediction 2026
In 2026, Optimism price prediction is projected to experience significant growth. The maximum forecasted price stands at $6.53, with an expected average trading price of $5.76 and a minimum optimism’s price of $5.61.
Optimism price prediction 2027
Per the Optimism price forecast for 2027, OP could reach a peak price of $9.72. The average price is projected to stabilize around $8.45, with a minimum expected at $8.17.
Optimism price prediction 2028
For 2028, the Optimism price prediction suggests a peak value of $14.62. The minimum trading price is expected to be $11.94, providing a potential support level. The average market value is projected to be around $12.28.
Optimism price prediction 2029
The price of Optimism is expected to reach a minimum level current optimism price of $17.23 in 2029. The OP price can reach a maximum level of $21.11 with the average price of $17.85.
Optimism price prediction 2030
According to the Optimism price prediction for 2030, OP could potentially reach a maximum price of $30.50. The projected minimum price is expected to be $24.72, with an average value around $25.43.
OP price prediction 2024 – 2030
Optimism market price prediction: Analysts’ OP price forecast
Firm20242025Gate.io$1.73$1.89CoinPedia$5.80$11.21AMBCrypto$2.37$5.32
Cryptopolitan’s Optimism (OP) price prediction
Cryptopolitan’s overall price prediction for Optimism (OP) suggests a positive outlook for the cryptocurrency. For 2024, the forecasted range is between $2.66 and $2.96, reflecting moderate growth in the remainder of the year. Optimism is projected to experience substantial appreciation, with prices anticipated to rise from a minimum of $24.2 to a maximum of $30.50 by 2030.
Optimism historic price sentiment
Optimism price history; Source: Coinmarketcap
The OP token was first introduced to the open market via the initial airdrop on May 31, 2022; it was valued at $4.57, as per CoinMarketCap. The token soon experienced a sharp decline in June due to the de-pegging of the UST stablecoin and the subsequent collapse of the associated LUNA cryptocurrency.
However, OP made a slow recovery, ending June at $0.5434. Further price drops followed in July, and the token fell to $0.4147 by July 13, continuing its bearish trend.
A bullish run followed in early August 2022, taking OP above $1.90. The price surge was short-lived, and OP fell to $0.70 by mid-October, triggered by the collapse of the FTX (FTT) exchange.
Q1 2023 saw OP surpass the $3.00 mark owing to the broader crypto market bull run. The bear soon took control of the market, plunging OP’s price by 66%. A positive turnaround in the market saw OP exceed its March 2023 levels, surpassing $3.90 by December 30.
The positive momentum from Q4 2023 pushed OP above $4.50 in Q1 2024, attaining its all-time high (ATH) of $4.85 on March 6, 2024 before declining below $2.30 by mid-April.
After surging above $2.9 in May, OP traded in the $1.82 – $1.96 range by July and started August with a bearish trend.
In October 2024, OP is currently trading between $1.70-$1.77, following a steady decline throughout September.
This articles is written by : Fady Askharoun Samy Askharoun
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