Analysts Optimistic For Optimism Breakout As Prices Recover

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.

That is provided it climbs above main resistance levels. Op is not yet out of the woods, though. Following a recent pullback, Van De Poppe’s analysis shows possible upward potential if OP can stick and retest key support areas.

Michael Van De Poppe is bullish after OP struggled to hold above a key resistance zone. Since a 20% correction in only a few days, OP has evidenced recovery, rising more than 5% in the past 24 hours.

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According to Poppe, the crucial part about volatility is that it could change trading behavior, which causes prices to go up to new all-time highs.

Poppe states that the $1.80-$1.90 range is also important. According to him, if we get another test at that range, we could see a break upwards and test the ATH in January.

This is in line with the current trend for major altcoins that have risen since weeks despite global economic uncertainties and ongoing issues in the cryptocurrency world.

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A push above this resistance level could send Optimism into the rally.

Optimism Recent Price Surge and Current Market Position

Optimism’s price has risen by over 5% over the last 24 hours and is now trading close to $1.57, having rallied after hitting a recent low of $1.53.

This price movement suggests that the recent sharp correction may begin a recovery phase. It’s impressive that the token is so resilient in the wake of a long, volatile crypto market.

As we speak, OP possesses a market capitalization of around $1.97 billion. Looking at an in-depth analysis, we see that a pivotal resistance zone has, on the surface, emerged within the $1.80-$1.90 range.

Breaking above this range would have Optimism retesting this level and, if it does so, 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.