Optimism Price Prediction: A Strong Recovery and Potential Upside
Amid the broader crypto market’s recovery phase, Optimism has seen significant buying interest, particularly above the $3 mark. The altcoin has risen from $3.08 to its present price of $3.76, marking a notable 22% increase. This upward movement has recaptured 50% of the previous losses, suggesting further recovery is possible.
Will OP Price Surpass $4 in the Coming Week?
The OP coin price trajectory over the last four months shows an ascending trendline on the daily chart, with the coin rebounding from this line of dynamic support at least three times. This pattern signifies active buyer accumulation and establishes a strong trend presence. Additionally, Optimism is leading in optimistic rollups, accounting for over 60% of daily active addresses among the top rollups.
Should the current recovery momentum continue, the OP price is anticipated to climb an additional 13% to tackle the previous swing high resistance at $4.28. A successful breach of this level could indicate a more definitive uptrend for this altcoin.
Utilizing the Fibonacci Extension tool, the anticipated post-breakout rally could potentially elevate the OP price to $4.55, followed by a new All-time-high at $5.
Technical Indicator
- Average Directional Index (ADX): The upticks in ADX slope around 16% accentuate buyers have sufficient momentum to extend the recovery trend.
- Bollinger Band: An uptick in the upper boundary of Bollinger Band highlights aggressive buying in the market.
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