Optimism Price Analysis: Trader Predicts Breakout Above $1 as OP Eyes Key Levels

Optimism (OP) is once again in focus after a volatile week that left the token trading near $0.758, according to CoinMarketCap data.

Despite a 3.44% decline over the past seven days, analysts suggest OP could be on the verge of a major breakout if critical resistance levels are cleared.

Market Snapshot

Optimism currently holds a market cap of $1.34 billion, with 1.77 billion OP in circulation out of a maximum supply of 4.29 billion. Trading activity has been robust, with a 24-hour volume of $154.5 million, though this figure is down nearly 25% from the previous day. The token’s recent slide has kept it below the $0.80 mark, frustrating some traders but presenting what others see as a setup for a sharp reversal.

Michaël van de Poppe’s Bullish Take

Prominent crypto analyst Michaël van de Poppe highlighted OP as one of the altcoins “literally about to go up massively.” In his view, the token is testing the 20-Week Moving Average on both the USD and BTC pairs, a crucial technical level that often dictates whether assets can transition into sustained uptrends.
“If OP breaks through here, I wouldn’t be surprised to see it head above $1,” van de Poppe noted, pointing to $1.24 as a possible next target zone.

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What’s Next for OP?

While OP remains down from earlier highs, traders are closely watching whether the current consolidation around $0.75 turns into a launchpad. A successful break above resistance could bring renewed momentum, particularly as Ethereum Layer-2 activity continues to expand. Conversely, failure to hold current levels could see further retracements before any significant recovery.

For now, Optimism sits at a crossroads: either confirm van de Poppe’s bullish thesis with a decisive breakout, or risk deeper correction before another rally attempt.