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Optimism price prediction 2024–2030: Will OP token gain momentum?

Key takeaways

  • By the end of 2024, OP is expected to have a minimum and maximum price of about $2.69 and $2.91, respectively.
  • Optimism price prediction for 2027 suggests the token could reach a maximum value of $9.19.
  • In 2030, OP tokens will range between $25.03 to $30.96 with an average value of $25.93.

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

CryptocurrencyOptimism
TokenOP
Price$2.31
Market Cap$2,013,141,835.26
Trading Volume$283,161,744.10
Circulating Supply1,255,070,491 OP
All-time High$4.85 (Mar 06, 2024)
All-time Low$0.4005 (Jun 18, 2022)
24- High$2.55
24-h Low$2.30

Optimism price prediction: Technical analysis

MetricValue
Volatility6.21%
50-Day SMA$1.638
14-Day RSI48.02
SentimentBearish
Fear & Greed Index69 (Greed)
Green Days14/30 (47%)
200-Day SMA$1.880

Optimism price analysis: OP bounces back to $2.31 as bearish momentum continues

TL;DR Breakdown

  • Optimism price analysis shows negative market sentiment
  • Optimism price is facing immediate resistance at the $2.55 level
  • Support for OP price is present at $2.30

Optimism’s price analysis for November 28 favors bears, with the price at $2.31, down 1.93%, and unable to break the $2.55 resistance. The ongoing downtrend reflects negative market sentiment. If the price falls below $2.30, it may test $2.25 support. Conversely, a rebound above $2.40 could retest the $2.50-$2.55 resistance, signaling a potential bullish reversal. 

Optimism price analysis 1-day chart: Bears maintain lead at $2.31

According to the Optimism 1-day price analysis, a bearish signal is observed as the price has been decreasing steadily for the past few hours. The digital asset confirms a bearish price movement for today, as the price has decreased to the $2.31 level, which is a strong support level and is likely to stop this bearish momentum.

Optimism price analysis 1-day chart
OP bears maintain lead at $2.31

The RSI (Relative Strength Index) is at 62.39, indicating the market is slightly overbought but nearing neutral levels after the pullback. The MACD (Moving Average Convergence Divergence) shows bullish momentum, with the MACD line (0.191) above the signal line (0.132), although the narrowing gap suggests waning upward pressure. 

OP/USD 4-hour price chart: Optimism shows consolidation phase

In the 4-hour timeframe, Optimism’s price has shown moderate volatility, with the current level at $2.317 following a slight increase of 1.09%. The price has maintained stability above the support level of $2.29 while facing resistance near $2.33. Recent trading activity highlights an upward attempt that lost steam as it approached resistance, indicating buyers are hesitant to drive the price further.

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OP/USD 4-hour price chart
Optimism shows consolidation phase

The RSI is currently at 53.50, indicating a neutral market stance with a slight tilt toward a bullish recovery. Meanwhile, the MACD displays a narrow bullish crossover with the signal line at 0.053 and the MACD line at 0.059. However, the histogram is diminishing, reflecting reduced bullish momentum.

Optimism technical indicators: Levels and action

Daily simple moving average (SMA)

PeriodValueAction
SMA 3$ 1.6307SELL
SMA 5$ 1.6545SELL
SMA 10$ 1.6058BUY
SMA 21$ 1.6052BUY
SMA 50$ 1.638SELL
SMA 100$ 1.564BUY
SMA 200$ 1.880SELL

Daily exponential moving average (EMA) 

PeriodValueAction
EMA 3$ 1.653SELL
EMA 5$ 1.673SELL
EMA 10$ 1.681SELL
EMA 21$ 1.673SELL
EMA 50$ 1.635SELL
EMA 100$ 1.691SELL
EMA 200$ 1.913SELL

What to expect from Optimism price analysis next?

Overall, Optimism price analysis suggests that the bearish momentum will continue unless bulls can break above the key resistance level of $2.55 soon. Support for OP can be found at around $2.30, which might prove critical in limiting any huge downside risks. The price may show bullish sentiment if the bears are not able to break below the support level.

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 2028.

Will OP reach $50?

Reaching $50 for Optimism (OP) would be an ambitious target, requiring a significant increase in the price of OP. This level 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.

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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

  • Arena- z launches one of the largest Web3 games, boasting over 5 million users. Powered by the Optimism OP Stack.

Optimism price prediction November 2024

For November 2024, Optimism price predictions suggest a potential low of $1.38, a potential average of $1.77, and a potential high of $2.69. 

Optimism price predictionPotential LowPotential AveragePotential High
Optimism price prediction November 2024$1.38$1.77$2.69

Optimism price prediction 2024

The price of Optimism is predicted to reach a maximum value of $2.91 in 2024. Traders can anticipate a minimum price of $2.91 and an average trading price of $2.81.

Optimism price predictionPotential LowPotential AveragePotential High
Optimism price prediction 2024$2.69$2.81$2.91

Optimism price predictions 2025–2030

YearMinimum PriceAverage PriceMaximum Price
2025$3.83$3.97$4.73
2026$5.38$5.54$6.62
2027$8.07$8.29$9.19
2028$11.63$12.05$14.13
2029$17.54$18.02$20.25
2030$25.03$25.93$30.96

Optimism price prediction 2025

In 2025 the price of Optimism is forecasted to be at around a minimum of $3.83. OP’s value can reach a maximum of $4.73 and an average trading value of $3.97.

Optimism price prediction 2026

In 2026, Optimism price prediction suggests a maximum price of $6.62, an average trading price of $5.54, and a minimum price of $5.38.

Optimism price prediction 2027

Per the Optimism price forecast for 2027, OP could reach a peak price of $9.19. The average price is projected to stabilize around $8.29, with a minimum expected at $8.07.

Optimism price prediction 2028

For 2028, the Optimism price prediction suggests a peak value of $14.13. The minimum trading price is expected to be $11.63. The average market value is projected to be around $12.05. 

Optimism price prediction 2029

The Optimism forecast for 2029 suggests a minimum price of $17.54, a maximum price of $20.25, and an average price of $18.02.

Optimism price prediction 2030

According to the Optimism price prediction for 2030, OP could potentially reach a maximum price of $30.96, a minimum price of $25.03, and an average value of around $25.93.

Optimism price prediction 2024-2030
Optimism (OP) price prediction 2024-2030

Optimism market price prediction: Analysts’ OP price forecast

Firm20242025
Gate.io$1.73$1.89
CoinPedia$5.80$11.21
AMBCrypto$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 $2.69 and $2.91, 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 $25.03 to a maximum of $30.96 by 2030. 

Optimism historic price sentiment

Optimism price history
Optimism price history; Source: Coinmarketcap
  • OP launched with an initial value of $4.57 on May 31 but dropped sharply in June due to the UST stablecoin de-pegging and LUNA collapse, closing June at $0.5434. It further declined to $0.4147 by mid-July. In August, OP briefly surged above $1.90, but by mid-October, it dropped to $0.70 following the FTX collapse.
  • In Q1 2023, OP surged past $3.00 during a crypto bull run but lost 66% shortly after. A recovery saw it close the year at $3.90. The momentum continued into Q1 2024, pushing OP to an all-time high of $4.85 on March 6, before it fell below $2.30 by mid-April.
  • After reaching over $2.9 in May, OP settled into the $1.82–$1.96 range by July and began a bearish trend. By October 2024, it was trading between $1.54 and $1.62 following a steady September decline.
  • In November 2024, OP is currently trading between $2.29-$2.60.

FAQs

What is an Optimistic Rollup?

Optimistic rollups operate on a principle similar to ZK-rollups, but with a key difference: they presume transactions to be valid unless proven otherwise. Computations are only executed if a transaction's integrity comes under question.

What is the purpose of Optimism?

Optimism is a swift, reliable, and expandable L2 blockchain, crafted by Ethereum developers specifically for their peers. Designed as a modest augmentation to the current Ethereum software, Optimism's architecture, equivalent to EVM, enhances the scalability of your Ethereum applications without any unexpected outcomes. Any application that functions on Ethereum will operate on Optimism, but at a significantly reduced cost.

What is the function of Optimism?

Optimism is a layer 2 chain, meaning it functions on top of Ethereum mainnet (layer 1). Transactions take place on Optimism, but the data about transactions get posted to the mainnet where they are processed.

Is Optimism EVM-compatible?

Absolutely! Optimism is entirely compatible with all Solidity smart contracts and Ethereum libraries. Given that Optimism functions as a second layer atop the primary Ethereum network, it can employ the Ethereum Virtual Machine in the same way as Ethereum does.

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Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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