Optimism: How whales can take OP to $2.60 soon
OP may witness a price surge as the market appears to align for upward momentum.
- There has been an increase in accumulation by large investors over the past 24 hours.
- The technical chart indicates that OP could reach $2.60, supported by the formation of a golden cross pattern.
Despite its one-month struggle after a 22.34% decline, Optimism [OP] has begun to recover, showing steady gains of 7.92% weekly and 1.70% daily.
With renewed buying activity, particularly from large investors, and a notable rise in average transaction value, OP may be ready for a significant rally.
Large investors step in
The market has witnessed a surge in large transactions involving OP over the past 24 hours, corresponding with a minor price increase.
At the time of writing, 277.17 million OP, valued at $501.62 million, were purchased by large investors who hold a significant portion of the supply.
This activity suggests that the bulk buying was in favor of OP’s rally, as its price slight sees gain.
Additionally, the average transaction size has spiked notably, reaching levels last seen on the 4th of November. The average transaction size stood at $20,697.00 over the past 24 hours.
The increase in both average transaction size and large transaction volume indicates substantial bulk purchases of the asset, adding a bullish undertone to the market.
A trade to $2.60 as target
The bullish outlook remained evident on the chart at press time, with OP trading within an accumulation pattern and forming a golden cross pattern.
On the 4-hour chart, OP was trading within a symmetrical pattern defined by converging support and resistance lines—a bullish setup that has appeared occasionally.
If the anticipated breakout occurs, OP could rally by 36.98%, reaching $2.616 before either undergoing a price re-assessment or continuing its upward movement.
At the same time, the formation of the golden cross pattern signals a potential high-momentum price push is incoming as trading activity has begun increasing.
The golden cross occurs when the blue MACD line crosses above the orange signal line. At the time of writing, the MACD line is at -0.001, while the signal line stands at -0.004.
If the MACD line moves into positive territory, it may trigger a major price surge.
Rising interest in the derivative market
At the time of writing, buyer interest in the derivative market has increased, as shown by OP’s Funding Rate on Coinglass.
Read Optimism’s [OP] Price Prediction 2025–2026
The Funding Rate tracks the mechanism used to balance price disparities between the spot and futures markets. A positive Funding Rate indicates a bullish market, while a negative rate suggests bearish sentiment.
At press time, the Funding Rate was at 0.00132%, indicating that long positions were dominant. This dominance helps maintain price equilibrium and suggests that OP’s price may continue rising from its current level.
