Key takeaways
- Optimism’s OP token rose by 10% to $2.78, defying market trends and signaling potential for further growth.
- Optimism is hot in May due to its Superchain project, which offers a permissionless approach to adding new blockchains, attracting attention and investment.
- Optimism hosts various decentralized applications, generating stable fee revenues and facilitating cross-chain bridging, cementing its position as a high-profile Layer 2 solution.
Optimism (OP) has been defying market trends with its impressive rally, gaining another 10% in price to reach $2.78, despite corrections in other assets. This surge reflects the project’s resilience and responsiveness to positive news following its crash on April 2. Although remaining volatile within its current price range, Optimism shows promise, potentially ranking among the top 30 coins and tokens by market capitalization.
What makes Optimism particularly hot in May is its focus on building the Superchain, which will serve as a hub for deploying new blockchains without centralized permission. Despite the relatively recent introduction of the OP token in late 2022, Optimism has swiftly become a standout platform, achieving an all-time high of $4.70 in 2024. The project’s strong financial backing, as evidenced by a recent $89 million OTC token sale in March 2024, has contributed to its development momentum.
Optimism’s Superchain distinguishes itself by offering a permissionless approach to adding new projects, in contrast to curated methods or those requiring staking or payments. This approach aligns with the broader cross-chain trend, facilitating seamless protocol switching for users. The project’s expansion includes the integration of new projects like the Redstone mainnet, gaming initiatives, and a curated selection of chains supported by its native grant program.
Beyond its origins in scaling Ethereum, Optimism hosts a range of top decentralized applications, including its native Uniswap exchange and others like OKX DEX and Aave. With nearly $900 million in locked liquidity and over $1 billion in stablecoins, Optimism demonstrates stability and utility, generating daily fee revenues and facilitating cross-chain bridging with significant locked assets.
The Optimism Superchain benefits from the success of participating projects, such as Zora Chain, which recently gained attention for minting an NFT related to North Korean hackers. The Optimism team actively supports new projects within the Superchain, offering technical assistance and exposure, further solidifying its position as a high-profile Layer 2 solution with robust activity across DeFi, gaming, lending, and other protocols.
Overview
| Cryptocurrency | Optimism |
| Token | OP |
| Price | $2.93 |
| Market Cap | $3,062,604,125 |
| Trading Volume | $345,878,695 |
| Circulating Supply | 1,045,379,867 |
| All-time High | $ 4.85 Mar 6, 2024 |
| All-time Low | $ 0.401121 Jun 18, 2022 |
| 24 High | $2.98 |
| 24 Low | $2.81 |
Optimism Price Prediction: Technical Analysis
| Metric | Value |
| Price Prediction | $ 9.41 (226.46%) |
| Volatility | 12.47% |
| 50-Day SMA | $3.03 |
| 14-Day RSI | 57.46 |
| Sentiment | Bullish |
| Fear & Greed Index | 67 |
| Green Days | 14/30 (47%) |
| 200-Day SMA | $2.78 |
Optimism Price Analysis: OP Hits Fresh Highs Of $2.96, Bullish Momentum Increases
TL: DR Breakdown
- Optimism price analysis shows a bullish trend
- Resistance for OP is present at $2.98
- Support for OP/USD is present at $2.81
Optimism price analysis shows that the OP/USD pair is bullish today and looks set to continue its upward trend as the price rises above the $2.90 level and is currently trading at $2.96. The uptrend for optimism has been very strong in the past few days, and there is a possibility that it could break above the $2.98 level in the near future. The overall market sentiment is bullish, as the OP price has sustained the $2.50 level for several days now.
Optimism Price Analysis 1-day Chart: Bullish Uptrend Marks OP Price Above $2.96
Looking at the Optimism daily price chart confirms an uptrend in price action, with the price above the $2.96 mark. The short-term outlook is bullish as long as the price remains above the $3.02 level, with strong resistance at $2.98. Looking further into the future, if the overall market sentiment is positive and continues to push OP higher, then it could reach new all-time highs and possibly surpass the $3.20 level.
OP/USD 1-day price chart, Source: TradingView
The relative strength index (RSI) is currently at 58.33, which indicates that the price of OP is neither overbought nor oversold. The Bollinger Band width is also increasing, indicating that market volatility is rising. The upper band is at $2.961, and the lower band is at $2.048, suggesting that the price could move within this range in the upcoming days.
OP/USD 4-Hour Price Chart: Bullish Momentum Continues
The 4-hour Optimism price analysis is still positive, and the coin is likely to maintain its bullish trajectory in the short term. The OP price trend indicator is also still in the bullish zone. The coin is currently trading at $2.96 at the time of writing, and chances are there for further increases in price levels. The OP/USD pair has made a strong comeback after a bearish dominance in the market for the past few days, and it is expected to remain bullish in the near term.
OP/USD 1-day price chart, Source: TradingView
The Bollinger Band is currently at $2.796, the upper Band is currently at $3.050, and the lower Band is at $2.543, suggesting that the price could move higher in the days ahead. The relative strength index (RSI) indicators are both showing positive signals, suggesting that the price of OP is in an uptrend.
Optimism Technical Indicators: Levels And Action
Daily Simple Moving Average (SMA)
| Period | Value | Action |
| SMA 3 | $2.66 | BUY |
| SMA 5 | $2.59 | BUY |
| SMA 10 | $2.72 | BUY |
| SMA 21 | $2.57 | BUY |
| SMA 50 | $3.03 | SELL |
| SMA 100 | $3.36 | SELL |
| SMA 200 | $2.73 | BUY |
Daily Exponential Moving Average (EMA)
| Period | Value | Action |
| EMA 3 | $2.43 | BUY |
| EMA 5 | $2.42 | BUY |
| EMA 10 | $2.55 | BUY |
| EMA 21 | $2.84 | BUY |
| EMA 50 | $3.22 | SELL |
| EMA 100 | $3.24 | SELL |
| EMA 200 | $2.90 | BUY |
What To Expect From Optimism
The short-term outlook for OP looks positive, and it is expected to remain bullish in the days ahead. If the bulls can break past the $2.98 resistance level, then it could signal a possible breakout and push the price higher towards its all-time high of $3.10. On the other hand, if the bears take control of the market and drive it back under $2.81, then there is a possibility that OP could test its support at $2.50 and go further down.
Recent News
Despite growing competition in the Layer 2 sector, Optimism’s Superchain has attracted over $6 billion from Ethereum L1, comprising 25% of the total bridged value. The Superchain offers cost efficiencies and a common toolkit for developers, exemplified by Base’s $1.86 million membership fee. Despite concerns about Base’s higher user count, OP Mainnet’s governance role remains crucial for the Superchain’s cohesion and development.
However, despite network progress, interest in the OP token has waned, with a 5.59% price drop and a 22.75% decline in trading volume within 24 hours. Declining network growth suggests fewer new addresses are engaging with OP, potentially signaling a future price correction.
Optimism Price Prediction, May 2024
Having analyzed Optimism prices, cryptocurrency experts expect that the OP rate might reach a maximum of $9.81 in May 2024. It might, however, drop to $2.87. For May 2024, the forecasted average of Optimism is nearly $6.34.
Optimism Price Prediction 2024
The experts in the field of cryptocurrency have analyzed the prices of Optimism and their fluctuations during the previous years. It is assumed that in 2024, the minimum OP price might drop to $3.13, while its maximum can reach $3.59. On average, the trading cost will be around $3.26.
Optimism Price Predictions 2025–2030
| Year | Minimum | Average | Maximum |
| 2025 | $4.71 | $4.87 | $5.60 |
| 2026 | $6.95 | $7.15 | $8.23 |
| 2027 | $10.51 | $10.80 | $12.19 |
| 2028 | $15.56 | $15.99 | $18.17 |
| 2029 | $23.13 | $23.93 | $27.04 |
| 2030 | $34.25 | $35.44 | $41.27 |
Optimism Price Prediction 2025
Based on the technical analysis by cryptocurrency experts regarding the prices of Optimism, in 2025, OP is expected to have the following minimum and maximum prices: about $4.71 and $5.60, respectively. The average expected trading cost is $4.87.
Optimism Price Prediction 2026
As per the forecast price and technical analysis, In 2026 the price of Optimism is predicted to reach at a minimum level of $6.95. The OP price can reach a maximum level of $8.23 with the average trading price of $7.15.
Optimism Price Prediction 2027
According to our deep technical analysis on past price data of OP, In 2027, the price of Optimism is predicted to reach at a minimum level of $10.51. The OP price can reach a maximum level of $12.19 with the average trading price of $10.80.
Optimism Price Prediction 2028
The price of Optimism is predicted to reach at a minimum value of $15.56 in 2028. The Optimism price could reach a maximum value of $18.17 with an average trading price of $15.99 throughout 2028.
Optimism Price Prediction 2029
The price of Optimism is predicted to reach at a minimum value of $23.13 in 2029. The Optimism price could reach a maximum value of $27.04 with an average trading price of $23.93 throughout 2029.
Optimism Price Prediction 2030
After the analysis of the prices of optimism, it is assumed that in 2030, the minimum price of OP will be around $34.25. The maximum expected Optimism price may be around $41.27. On average, the trading price might be $35.44 in 2030.
Optimism Market Price Prediction: Analysts’ OP Price Forecast
Optimism Price Prediction By Coincodex
Optimism reached its highest price on Mar 6, 2024, when it was trading at its all-time high of $4.85, while Optimism’s lowest price was recorded on Jun 18, 2022, when it was trading at its all-time low of $0.401121. The lowest price since it’s ATH was $1.896360 (cycle low). The highest OP price since the last cycle low was $2.99 (cycle high).
Optimism Price Forecast By Digital Coin Price
Digital Coin Price’s OP price forecast expects a gradual increase in the token’s value in the upcoming years. According to the website, Optimism’s price is anticipated to surpass the $3.36 mark in 2024. By the year’s end, it is projected that Optimism will attain a minimum value of $3.11. Furthermore, the price of OP has the potential to achieve a peak level of $3.57.
In 2033, it is anticipated that the price of Optimism (OP) will exceed $27.25. As we approach the end of the year, the minimum value of Optimism is projected to be $27.16. Moreover, the price of OP has the potential to reach a high of $27.29.
Optimism Price Prediction By CryptoPredictions.com
According to CryptoPredictions.com’s Optimism price prediction, the OP token’s price may surge further following its current hype. Optimism is predicted to start in March 2024 at $4.52 and finish the month at $5.50. During March, the maximum forecasted OP price is $4.025 and the minimum price is $2.737.
By the end of 2027, the OP token’s price may attain an average trading price of $14.88, with a minimum price of $14.37 and a maximum price of $16.90.
Cryptopolitan’s Optimism (OP) Price Prediction
According to the latest data gathered at Cryptopolitan, the current price of Optimism is $2.96, and OP is presently ranked No. 21 in the entire crypto ecosystem. In the past 24 hours, the crypto has increased by $0.08 in its current value.
For the last 7 days, OP has been in a good upward trend, thus increasing by 22.22%. Optimism has shown very strong potential lately, and this could be a good opportunity to dig right in and invest.
Optimism Price History
Let’s delve into the price history of the OP token. While it’s important to remember that past performance doesn’t guarantee future results, understanding the token’s trading history can provide a useful context for interpreting or making an Optimism price prediction.
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. However, this price seemed overly optimistic as the market quickly deemed it overvalued, causing it to drop to a low of $0.7973 before ending the day at $1.44 – a 68.5% decrease from the opening price.
Despite the initial price being the all-time high for Optimism, the OP token price has seen some fluctuations.
In June 2022, the market was still recovering from the depegging of the UST stablecoin and the subsequent collapse of the associated LUNA cryptocurrency. This was quickly followed by the Celsius crypto lending platform freezing withdrawals, further confirming the bear market. This series of events negatively impacted the newly launched Optimism, causing it to drop to its all-time low of $0.4005 on June 18, 2022 – less than a tenth of its launch price.
However, the token made a slow recovery, ending the month at $0.5434. But by July 13, 2022, the token fell to $0.4147, continuing its bearish trend.
Following Ethereum’s Merge – the transition to a proof-of-stake (PoS) consensus mechanism aimed at making the blockchain faster and more eco-friendly – on September 15, 2022, the crypto markets didn’t react as positively as many investors had hoped. Despite launching on OpenSea, Optimism was trading at $0.8917 on September 28. The OP token continued to fall, reaching $0.649 by October 21. However, by November 4, 2022, the token had regained over 108% and surged to $1.3512 following the launch of Pragmatism, a library design system created by Figma for the Optimism Collective.
This bullish run was short-lived, though, as the token fell to $0.7952 by November 10, 2022, triggered by the collapse of the FTX (FTT) exchange. Throughout the rest of November, the token fluctuated between $1 and $0.8 before starting a steady rise in December, spurred by Optimism’s announcement of the deployment of the AttestationStation, an attestation smart contract providing “a permissionless, accessible data source for builders creating reputation-based applications”.
On December 15, 2022, the platform also announced that an Optimism non-fungible token (NFT) would be “coming soon” on the AttestationStation, serving as a “customisable profile picture that can represent user identity across the Optimism Ecosystem”.
Earlier, the platform had announced Retroactive Public Goods Funding Round 2, set to launch in February 2023, aimed at giving back to those “powering the public goods that make Optimism possible”.
The first half of December saw OP rising, reaching a high of $1.19 before dropping to close the year at $0.9172. OP then experienced a rally at the start of the New Year, reaching $3.21 on February 3. A drop was followed by a recovery to $3.26 on February 24, but then it decreased to trade at about $2.52 on March 7, 2023. Optimism further declined and touched the $1.5 mark in early June.
