Optimism (OP) Turns Heads as Analysts Predict the Token Could See a Potential Breakout

Michael Van De Poppe has again highlighted OP's bullish future with a prediction that suggests the token may reach an all-time high as soon as early 2025

Optimism (OP) token price has surged by more than 5% over the last 24 hours and now trades close to $1.57, rallying after hitting a recent low of $1.53.

This price movement suggests that the recent sharp correction may begin a recovery phase. It is also impressive how the token has shown resilience amid the prolonged volatility in the crypto market.

As we speak, OP has a market capitalization of around $1.97 billion.

Delving into an in-depth analysis, a pivotal resistance zone, on the surface, seems to have emerged within the $1.80-$1.90 range.

Breaking above this range would have Optimism retesting this level and, if it does so, it will likely set the stage for a more significant run to the next significant resistance at around $2.00.

Chart analysis shows that the $2.00 mark on OP is seen as an “important breakout area,” so if buying pressure is strong enough, OP could push to the $3.00 level, the next major resistance.

On the other hand, we see that the Relative Strength Index (RSI) has declined to lower values, suggesting an oversold condition.

This, in turn, suggests room for the rebound as traders chase entry opportunities at lowered prices.