Optimism (OP) Price Prediction 2023 — Will OP Hit $2 Soon?

Optimism (OP) Price Prediction 2022 - Will OP Hit $5 Soon?
  • Bullish OP price prediction is $1.42 to $2.274.
  • Optimism (OP) price might also reach $2 soon.
  • Bearish OP price prediction for 2023 is $0.648.

In Optimism (OP) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about OP to analyze the future movement of the cryptocurrency.

Optimism (OP) Current Market Status

Current Price $0.953
24 – hour trading volume $42,697,437
24 – hour price change 4.3% up
Circulating supply 214,748,364
All – Time High $2.21 (On August 04, 2022) 
OP Current Market Status (source: CoinGecko)

What is Optimism (OP)?

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 (OP) Price Prediction 2023

Optimism (OP) holds the 129th position on CoinGecko right now. OP price prediction 2023 is explained below with a daily time frame.

OP /USDT Ascending Triangle Pattern (Source: Tradingview)

The above chart of Optimism (OP) laid out an Ascending triangle pattern. The ascending triangle is a characteristic pattern of an ongoing bullish trend. This triangle is formed by a horizontal upper trendline that connects the highs and the lower trendline that connects the rising lows. If the trend breakout at the resistance level, the price will continue to move up in this ascending triangle pattern.

Currently, Optimism (OP) is in the range of $0.948. If the pattern continues, the price of OP  might reach the resistance levels of $1.420, and $2.274. If the trend reverses, then the price of OP may fall to $0.649. 

Optimism (OP) Support and Resistance Levels

The chart below shows the support and resistance levels of Optimism (OP).

OP /USDT Support and Resistance Levels (Source: Tradingview)

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Optimism (OP).

Resistance Level 1$1.463
Resistance Level 2$2.213
Support Level 1$0.932
Support Level 2$0.648
OP Resistance & Support Level

The charts show that Optimism (OP) has performed a bullish trend over the past month. If this trend continues, OP might run along with the bulls overtaking its resistance level at $2.213.

Accordingly, if the investors turn against crypto, the price of Optimism (OP) might plummet to almost $0.648, a bearish signal.

Optimism (OP) Price Prediction 2023 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Optimism (OP) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of OP lies below the cutoff line, indicating weak participants in the current trend.

OP /USDT RVOL, MA, RSI (Source: Tradingview)

Also, the Moving Average (MA) of Optimism (OP) is shown in the chart above. Notably, the Optimism (OP) price lies below 50 MA (short-term), so it is downward. Currently, OP has entered a bearish state. Therefore, there is a possibility of a reversal trend of OP at any time.

Meanwhile, the relative strength index (RSI) of the OP is 43.93. This means that Optimism (OP) is neither in an oversold or overbought state. However, this means a major price reversal of OP may occur in the upcoming days. So, traders need to trade carefully. 

Optimism (OP) Price Prediction 2023 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of Optimism (OP). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

OP /USDT ADX, RVI (Source: Tradingview)

The above chart represents the ADX of Optimism (OP). Currently, the ADX of OP lies in the range of 22.048 and thus, it indicates a weak trend. 

The above chart also represents the Relative Volatility Index (RVI) of Optimism (OP). RVI measures the constant deviation of price changes over a period of time. The RVI of OP lies below 50, indicating low volatility. In fact, the RSI of Optimism (OP) is at 43.93 thus confirming a potential sell signal.

Comparison of OP with BTC, ETH

The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and  Optimism (OP).

BTC Vs ETH Vs OP  Price Comparison (Source: Tradingview)

From the above chart, it can be interpreted that ETH, BTC, and OP are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and OP also increase or decrease respectively.

Optimism (OP) Price Prediction 2024-2030

Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Optimism (OP) between 2024 and 2030.

Optimism (OP) Price Prediction 2024

If the declining price action completely slows down in momentum and the trend reverses,  Optimism (OP) might probably attain $4 by 2024.

Optimism (OP) Price Prediction 2025

With several upgrades in the network, Optimism (OP) might enter a bullish trajectory. If the coin grabs the attention of major investors, OP might rally to hit $6 by 2025. 

Optimism (OP) Price Prediction 2026

If Optimism (OP) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, OP would rally to hit $8. 

Optimism (OP) Price Prediction 2027

If Optimism (OP) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, OP would rally to hit $10. 

Optimism (OP) Price Prediction 2028

If Optimism (OP) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, OP would rally to hit $12.

Optimism (OP) Price Prediction 2029

If Optimism (OP) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, OP would hit $14 in 2029.

Optimism (OP) Price Prediction 2030

If investors flock in and continue to place their bets on Optimism (OP), it would witness major spikes. OP might hit $16 by 2030.

Conclusion

With continuous improvements in the Optimism network, we can say that 2023 is a good year for OP. For this reason, the bullish price prediction of Optimism (OP) in 2023 is $2.274. On the other hand, the bearish price prediction of Optimism (OP) price prediction for 2023 is $0.648.

Furthermore, with the advancements and upgrades to the Optimism ecosystem, the performance of OP would help to reach above its current all-time high (ATH) of $2.21 very soon. But, it might also reach $2 if the investors believe that OP is a good investment in 2023.

FAQ

1. What is Optimism (OP)?

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. .

2. Where can you purchase Optimism (OP)?

Optimism (OP) has been listed on many crypto exchanges which include Binance, OKX, XT.COM, Deepcoin, and CoinW. 

3. Will Optimism (OP) reach a new ATH soon?

With the ongoing developments and upgrades within the Optimism platform, OP has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Optimism (OP)?

On August 04, 2022 Optimism (OP) reached its new all-time high (ATH) of $2.21.

5. Is Optimism (OP) a good investment in 2023?

Optimism (OP) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Optimism in the past few months, OP is considered a good investment in 2023.

6. Can Optimism (OP) reach $2?

Optimism (OP) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Optimism (OP) will hit $2 soon.

7. What will be Optimism (OP) price by 2024?

 Optimism (OP) price is expected to reach $4 by 2024.

8. What will be Optimism (OP) price by 2025?

 Optimism (OP) price is expected to reach $6 by 2025.

9. What will be Optimism (OP) price by 2026?

 Optimism (OP) price is expected to reach $8 by 2026.

10. What will be Optimism (OP) price by 2027?

 Optimism (OP) price is expected to reach $10 by 2027.                            

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.

A devoted content specialist who is inquisitive on exploring crypto and blockchain technology. She is fond of providing innovative contents that tugged her to write for NewsCrypto.