Optimism Price Prediction: 2024, 2025, 2030

OP price prediction: Key highlights

1. Primary support and resistance levels

• $1.2 was the lowest price floor for the price on the weekly chart.
• The high resistance at $4.5 can likely make it challenging for the price to increase.

2. Market sentiment

• OP’s bullish sentiment in May 2024 has been observed to be weakening.

3. Predictive forecasts

• Based on our AI/ML predictive models, OP is projected to average at around $80 in 2028 and over $10,000 in 2035.

Take a glance at the given thorough weekly technical analysis of OP, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

OP technical analysis: Market reverses trajectory post recording new highs

This crypto season, many digital currencies have been recording new highs, and OP has not been left behind. Examining the sustainability of this new rally necessitates a closer look at the Optimism price prediction for 2024.

The period under review commenced with a notable rejection at the $2.1 mark. This early indication of resistance set the tone for subsequent price actions. The downward trajectory persisted until the token fell briefly below the lowest support level at $1.2 in June. 

Bullish traders' mid-month efforts to reverse the downtrend resulted in a temporary price uplift. This attempt culminated towards the end of July, with OP challenging the $1.7 resistance level. 
 

The attempt was rejected, leading the price to plummet to the lowest support. In a turnaround by October, buyers amassed enough momentum to push the price above $1.7 by mid-November. A significant surge in mid-December enabled the altcoin to surpass all preceding resistance levels, testing a new high at $3.8. 

After a minor retracement that found support at $2.9, the token resumed its upward trajectory, turning $3.8 into a support base. Notably, the asset set a new all-time high (ATH) of $4.8 in March. This development marked $4.5 as the highest resistance encountered by the price.

AMBCrypto highlighted that all Optimism addresses had reached a profitable state for the first time in history due to this new high. Moreover, the funding rate experienced a significant upsurge to its highest point in over seven months.
 

Nonetheless, this enthusiasm was short-lived. Mid-March saw a swift correction, and the prices dipped below the $3.8 mark. This was followed by another substantial decline, positioning the trading price below $2.9 at $2.5 by the end of the analysis.

AMBCrypto reported that issues were recently identified in the OP Stack fraud proofs implemented on the testnet. Despite resolving these problems, the announcement caused considerable fear, uncertainty, and doubt (FUD) among holders of the OP token.
 

The current support level plays a pivotal role in determining the future price trajectory. If bulls manage to maintain this level, it could serve as a launchpad for another rally. This could enable the price to reclaim the current resistance levels and pave the way for attaining the ATH again. 
 

Conversely, increased selling pressure could drive the price closer to $2.1. In a more pronounced pessimistic scenario, the $1.7 level could be retested as support, which would decisively shift the trend to bearish.
 

The long-term prospects for the OP token seem promising despite experiencing some short-term volatility. By 2028, the average price of OP is projected to be around $80, indicating steady growth. The forecast becomes even more bullish looking towards 2035, where the price is expected to soar above $10,000.

OP's 2024 roadmap: Key indicators to watch and trade

• The trading volume mirrored the price movements. A significant increase was observed between December and January, coinciding with the price appreciation. 
• This dampened quickly because of the drops. A slight recovery was again noted in March but wasn’t sustained. 
• Analysis of the Moving Average Convergence Divergence (MACD) showed that the MACD line initially started below the signal line. When the price dropped below its lowest support in June, the MACD line fell below the zero line, and the signal line followed suit the next month.
• By the end of October, the MACD line crossed above the signal line. Additionally, towards the end of November, it reclaimed its position above the zero line. The signal line followed this movement by December.
• After reaching a peak in March, the MACD line began to descend, moving below the signal line the following month. At the time of writing, the MACD line was at 0.122, the signal line at 0.330, and the histogram at -0.207. This suggested that the overall market trend was still more positive than negative despite the recent bearish momentum.
• In June, the Chaikin Money Flow (CMF) indicator dropped below the zero line. It briefly turned positive between July and August, with a short surge observed in October. 
• Since mid-October, it has continued to rise above zero, standing at 0.11 at the time of writing. This is a slight decline from previous highs, indicating a decrease in the intensity of buying.