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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 $3.04 and $3.56, respectively.
  • Optimism price prediction for 2027 suggests the token could reach a maximum value of $11.53.
  • In 2030, OP tokens will range between $30.22 to $34.10 with an average value of $31.23.

Optimism (OP), a prominent Layer-2 scaling solution for Ethereum, has recently made headlines by leading total bridge net inflows over the past seven days, surpassing even Ethereum. This achievement underscores Optimism’s growing influence in crypto market and efficiency in facilitating cross-chain transactions. The platform’s commitment to innovation is further highlighted by its support for Layer-3 solutions, enabling the development of decentralized applications (dApps) on top of Layer-2 chains, which contributes to the expansive Optimism Superchain.

The platform’s initiatives, including the introduction of 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 of the token, can Optimism reach $10 soon?

Overview

CryptocurrencyOptimism
TokenOP
Price$2.14
Market Cap$2,322,630,565
Trading Volume$334,805,184
Circulating Supply1,086,889,963 OP
All-time High$4.85 (Mar 06, 2024)
All-time Low$0.4005 (Jun 18, 2022)
24 High$2.12
24 Low$2.25

Optimism Price Prediction: Technical Analysis

MetricValue
Price Prediction$ 7.94  (228.35%)
Volatility5.28%
50-Day SMA$2.55
14-Day RSI45.86
SentimentBearish
Fear & Greed Index73 (Greed)
Green Days10/30 (33%)
200-Day SMA$2.97

Optimism price analysis: OP slumps down to $2.19 as the bearish trend continues

TL; DR Breakdown

  • Optimism price analysis is bearish today
  • Support for OP/USD is present at $2.17
  • OP price is facing resistance at $2.25

Optimism price analysis for June 10 shows that OP is experiencing a loss. The price declined to $2.19, losing 1.64 percent of its value in the last 24 hours. The trend shows significant volatility, with multiple peaks and troughs. Initially, the price hovers around $2.22 but experiences a sharp decline, indicating strong selling pressure. 

The price attempts to recover multiple times, reaching minor peaks, but continues to follow a general downward trend. By the end of the observed period, the price stabilizes at approximately $2.19. The overall trend suggests sellers dominate the market, driving the price down despite brief recoveries. The persistent downward movement reflects ongoing bearish sentiment among traders.

Optimism price analysis 1-day chart: Price levels Fall to $1.48 as a Result of a Bearish Swing

The daily chart of Optimism Coin (OP) shows a clear bearish trend, as evidenced by the continuous decline in price. The red candlestick has formed in the daily chart, indicating that the bears have taken control of the market. The current bearish trend could continue towards more losses in the coming days.

The Relative Strength Index (RSI) is at 35.28, indicating the asset is approaching oversold territory, suggesting potential buying opportunities if the trend reverses. However, the RSI line below the 50 mark signifies ongoing bearish momentum.

OP/USD 1-day price chart, Source: TradingView

The Moving Average Convergence Divergence (MACD) shows the MACD line (-0.094) is below the signal line (-0.065), further confirming bearish sentiment. The histogram’s negative values reinforce the downtrend, indicating that selling pressure remains strong, and the price might continue to decline unless significant bullish activity.

Optimism price analysis 4-Hour Chart: Price continues to slide below $2.19 as Bearish pressure persists

The 4-hour Optimism price analysis chart shows that the bears are still in control, with the price faling below $2.19. The selling pressure is strong, as the price has dropped by 1.64%for the past hours. The price has been declining consistently as the cryptocurrency shows a downward tendency. A price reduction has been observed in the hourly chart, which indicates that the bearish trend is still in effect.

OP/USD 4-hour price chart, Source: TradingView

The MACD shows a slight bullish crossover with the MACD line above the signal line, which may hint at a potential upward momentum. However, the histogram’s values are minimal, indicating weak bullish strength. The RSI stands at 37.77, suggesting the asset is near the oversold territory, indicating the potential for a reversal or stabilization. Overall, the chart suggests a cautious market with a possible trend shift depending on upcoming market movements.

Optimism Technical Indicators: Levels And Action

Daily Simple Moving Average (SMA)

PeriodValueAction
SMA 3$2.53SELL
SMA 5$2.52SELL
SMA 10$2.57SELL
SMA 21$2.56SELL
SMA 50$2.55SELL
SMA 100$3.13SELL
SMA 200$2.97SELL

Daily Exponential Moving Average (EMA) 

PeriodValueAction
EMA 3$2.54SELL
EMA 5$2.55SELL
EMA 10$2.57SELL
EMA 21$2.59SELL
EMA 50$2.71SELL
EMA 100$2.87SELL
EMA 200$2.79SELL

Optimism Price Analysis Conclusion

Optimism Price Analysis Conclusion

Optimism price analysis is facing negative pressure at present, with most indicators pointing towards further losses in the near future. The selling pressure is strong, and buyers have to break through the resistance level of $2.25 in order to see a reversal in the trend. However, if the bears continue to dominate the market, then further losses may be observed in the coming days.

Is Optimism a good investment?

Optimism (OP) offers an attractive investment opportunity as a Layer-2 solution enhancing Ethereum’s scalability by improving transaction speeds and reducing costs. With a recent 30% surge in active addresses, investor confidence seems to be growing. The observed increase in user activity alongside a price drop suggests OP is currently undervalued, highlighting a potential investment opportunity for those looking to invest in scalable blockchain solutions.

Optimism Recent News/Opinion

  • Alchemy Joins Optimism’s newtwork of RaaS partners

Optimism Price Prediction June 2024

In June, a market shift to the upside could result in OP token trading at a minimum price of $2.44, an average price of $2.47, and a maximum price of $2.51.

Optimism Price PredictionPotential LowPotential AveragePotential High
Optimism Price Prediction June 2024$2.44$2.47$2.51

Optimism Price Prediction 2024

A sustained positive market shift in Q4 could result in Optimism trading at a minimum price of $3.04, an average price of $3.16, and a maximum price of $3.56.

Optimism Price PredictionPotential LowPotential AveragePotential High
Optimism Price Prediction 2024$3.04$3.16$3.56

Optimism Price Predictions 2025–2030

YearMinimum PriceAverage PriceMaximum Price
2025$4.51$4.64$5.43
2026$6.64$6.87$8.04
2027$9.84$10.18$11.53
2028$14.10$14.51$16.78
2029$19.55$20.28$24.43
2030$30.22$31.23$34.10
Optimism Price Prediction

Optimism Price Prediction 2025

In 2025, the price of Optimism is predicted to reach a minimum level of $4.51. The OP price can reach a maximum level of $5.43 with an average trading price of $4.64.

Optimism Price Prediction 2026

In 2026, the price of Optimism is predicted to reach at a minimum value of $6.64, a maximum value of $8.04 and an average price of $6.87.

Optimism  Price Forecast 2027

Optimism (OP) is expected to reach a lowest possible level of $9.84 in 2027. The maximum expected price of the token is $11.53, with an average forecast price of $10.18.

Optimism Price Prediction 2028

Optimism (OP) might trade at a minimum price of $14.10 in 2028. The maximum expected price is $16.78, with an average price of $14.51.

Optimism Price Prediction 2029

Optimism’s price is predicted to reach at a minimum value of $19.55 in 2029. Investors can anticipate a maximum value of $24.43 and average trading price of $20.28 if the bulls back the token.

Optimism (OP) Price Prediction 2030

In 2030, the price of Optimism is predicted to reach a minimum of $30.22. The OP price can reach a maximum level of $34.10, and an average trading price of $31.23.

Optimism Market Price Prediction: Analysts’ OP Price Forecast

Firm20242025
Gov.Capital$2.25$3.42
DigitalCoinPrice$3.36$6.51
Coincodex$4.85$5.50

Cryptopolitan’s Optimism (OP) Price Prediction

According to our Optimism price forecast, the coin’s market price might reach a maximum value of $5.24 by the end of 2024. Looking forward to 2026, the value of OP could surge to $7.68, making it a potentially profitable investment tool. Note that this is not investment advice. Always do your own research before making investment decisions.

Optimism Historic Price Sentiment

Source: Coinmarketcap
  • When 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 de-pegging of the UST stablecoin and the subsequent collapse of the associated LUNA cryptocurrency.
  • However, OP made a slow recovery, ending the month of 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 soon 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 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.
  • Subsequently, Optimism (OP) experienced a downward trend declining below $2.30 by April 17, 2024. Crypto prices surged in May, and OP was not left behind, rising above $2.9 on May 21.
  • At the time of writing, June 10 2024, Optimism (OP) is trading within the $2.14 – $2.22 range.

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.

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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