Optimism (OP) Price Prediction 2022 – Will OP Hit $5 Soon?

• Bullish OP price prediction for 2022 is $2.193 to  $3.289.
• The OP price will also reach $5 soon.
• Bearish OP price prediction for 2022 is $0.436.

In Optimism (OP) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about OP to analyze the future movement of the cryptocurrency. 

Optimism (OP) Current Market Status

According to CoinGecko, the price of Optimism (OP) is $1.59 with a 24-hour trading volume of  $298,599,528 at the time of writing. However, OP has decreased to 5.5% in the last 24 hours. 

Moreover, Optimism (OP) has a circulating supply of 214,748,364  OP. Currently, OP trades in cryptocurrency exchanges such as  Binance, BTCEX, OKX, BingX, and CoinW.

What is Optimism (OP)?

Optimism (OP) is a layer-two blockchain on top of Ethereum. Optimism benefits from the security of the Ethereum mainnet and helps scale the Ethereum ecosystem by using optimistic rollups. It is one of the biggest scaling solutions for Ethereum with over $300 million in TVL. Optimism is led by the Optimism Foundation, a nonprofit organization dedicated to growing the Optimism ecosystem. Furthermore, it aims for the minimum number of moving parts while building a layer-two solution for Ethereum. 

Optimism (OP) Price Prediction 2022

Optimism (OP) holds the 133th position on CoinGecko right now. OP price prediction 2022 is explained below with a daily time frame.

A horizontal channel or sideways trend has the appearance of a rectangle pattern. It consists of at least four contract points. This is because it needs at least two lows to connect, as well as two highs. Horizontal channels provide a clear and systematic way to trade by providing buy and sell points. The longer the horizontal channel, the stronger the exit movement will be. There is frequently a price on the channel after exit. the exit often occurs at the fourth contact point on one of the horizontal channel’s lines.

Currently, Optimism (OP) is at $1.59. If the pattern continues, the price of OP might reach the resistance level of $2.235. If the trend reverses, then the price of OP may fall to $1.766, & 1.412.

Optimism (OP) Support and Resistance Levels

The chart below shows the support and resistance levels of Optimism (OP).

From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Optimism (OP).

The charts show that OP has performed a bullish trend over the past month. If this trend continues, OP might run along with the bulls overtaking its resistance level at  $3.289.

Accordingly, if the investors turn against the crypto, the price of the OP might plummet to almost $0.436, a bearish signal.

Optimism (OP) Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Optimism (OP) is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of OP lies below the cutoff line, indicating weak participants in the current trend.

Moreover, the Moving Average (MA) of Optimism (OP) is shown in the above chart. Notably, the OP price lies below 50 MA (short-term), so it is completely in a downward trend. Currently, OP is in a bearish state. There is a possibility of a reversal trend of OP at any time.

Meanwhile, the relative strength index (RSI) of the OP is at a level of 36.56. This means that OP is in a nearly oversold state. However, this gives confidence to the traders to trade without any fear.

Optimism (OP) Price Prediction 2022 — ADX, RVI

Let us now look Average Directional Index (ADX) of Optimism (OP). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

The above chart represents the ADX of Optimism (OP). Currently, OP lies in the range of 27.389, indicating a strong trend. 

From the above chart, the Relative Volatility Index (RVI) of Optimism (OP). RVI measures the constant deviation of price changes over a period of time. The RVI of OP lies above 50, indicating high volatility. In fact, OP’s RSI is at 36.56 thus confirming a potential sell signal.

Comparison of OP with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and Optimism (OP).

From the above chart, we can interpret that BTC, ETH, and OP are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and OP also increase or decrease respectively.

Optimism (OP) Price Prediction 2023

If the declining price action slows down in momentum and the trend reverses,  Optimism (OP) might probably attain $9 by 2023.

Optimism (OP) Price Prediction 2024

With several upgrades in the network, Optimism (OP) might enter a bullish trajectory. If the coin grabs the attention of major investors, OP might rally to hit $12 by 2024. 

Optimism (OP) Price Prediction 2025

If Optimism (OP) sustains major resistance levels and continues to be recognized as a better `investment option among investors for the next 3 years, OP would rally to hit $17.  

Optimism (OP) Price Prediction 2026

If Optimism (OP) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, OP would rally to hit $25. 

Optimism (OP) Price Prediction 2027

If Optimism (OP) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, OP would rally to hit $29. 

Optimism (OP) Price Prediction 2028

If Optimism (OP) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, OP would hit $34.

Optimism (OP) Price Prediction 2029

If investors flock in and continue to place their bets on Optimism (OP), it would witness major spikes. OP might hit $37 by 2029.

Optimism (OP) Price Prediction 2030

With greater advancements in the Optimism ecosystem, the crypto community might continue to invest in Optimism (OP) for the next 8 years and drive significant price rallies for the token. Hence, Optimism (OP) might hit $40 by 2030.

Conclusion

With continuous improvements in the Optimism network, we can say that 2022 is a good year for OP. For this reason, the bullish price prediction of Optimism (OP) in 2022 is $3.289. On the other hand, the bearish price prediction of Optimism (OP) for 2022 is $0.436.

Furthermore, with the advancements and upgrades in the Optimism ecosystem, the performance of Optimism (OP) might hit $5 gaining investors’ attention. It would also rise above its all-time high (ATH) of $2.21 in the near future.

FAQ

1. What is Optimism (OP)?

 Optimism (OP) is a layer-two blockchain on top of Ethereum. Optimism benefits from the security of the Ethereum mainnet and helps scale the Ethereum ecosystem by using optimistic rollups. 

2. Where can you purchase Optimism (OP)?

Optimism (OP) has been listed on many crypto exchanges which include  Binance, BTCEX, OKX, BingX, and CoinW.

3. Will Optimism (OP) reach a new ATH soon?

With the ongoing developments and upgrades within the Optimism platform, Optimism (OP) has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Optimism (OP)?

On August 4, 2022, Optimism (OP) reached its new all-time high (ATH) of $2.21.

5. Is Optimism (OP) a good investment in 2022?

Optimism (OP) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Optimism in the past few months, OP is considered a good investment in 2022.

6. Can Optimism (OP) reach $5?

Optimism (OP) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues, Optimism (OP) will hit $5 soon.

7. What will be Optimism (OP) price by 2023?

Optimism (OP) price is expected to reach $9 by 2023.

8. What will be Optimism (OP) price by 2024?

Optimism (OP) price is expected to reach $12 by 2024.

9. What will be Optimism (OP) price by 2025?

Optimism (OP) price is expected to reach $17 by 2025.

10. What will be Optimism (OP) price by 2026?

Optimism (OP) price is expected to reach $25 by 2026.

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.