Optimism (OP) Price Prediction: Targeting $1.80 as the Asset Tests Key Support

Optimism (OP) is currently in a corrective phase, testing key support levels that could determine its next major move.

Optimism (OP) price is testing key support levels that could determine its next major move. The daily charts suggest the asset is nearing the completion of a wave (c) decline, setting the stage for a potential reversal.

However, the 1-hour chart highlights potential short-term movements before that breakout attempt.

What Is Optimism’s Price Prediction?

The daily chart shows Optimism in a prolonged corrective phase, forming an ABC structure. The price is currently testing the 0.5 Fibonacci retracement at $0.79, with the next key support at $0.34 (0.618 Fibonacci level).

Historically, OP has rebounded from this zone around $1, making it a critical area to watch for a potential reversal. However, its recent decline was a breakout below the demand zone and will likely continue to the downside.

A descending trendline from previous highs remains a major resistance, positioned around $1.23. If OP breaks above this level, it would confirm a shift toward a bullish structure. The RSI is also approaching oversold conditions, which could indicate a bottom formation.

On the 4-hour chart, wave (c) appears to be nearing completion. A strong bullish reaction from the current range ($0.79-$0.86) would signal the start of a recovery, with the first key upside target around $1.23.

If the price fails to hold this support, the next downside target is $0.34, though this scenario remains less probable.

Short-Term Breakout Attempt

The 1-hour chart suggests Optimism is in the final stages of wave (c), with a possible last decline before a reversal. Fibonacci levels highlight $0.79 as a strong support zone where buyers may step in.

A bounce from this level could lead to an initial rally toward $1.00, with confirmation above $1.23 signaling a larger breakout.

If Optimism holds above $0.79 and gains momentum, an extended wave (i) could push it toward $1.80, aligning with the 0.236 Fibonacci retracement from previous highs.

Further bullish continuation could see Optimism targeting $2.70 in the coming weeks if overall market conditions improve.

However, failure to sustain the $0.79-$0.86 range could trigger further downside. If Optimism breaks below $0.79, a deeper correction toward $0.34 may occur before any bullish trend resumes. The RSI should also be monitored, as a move above 50 would confirm a shift in momentum.

A successful rebound would validate a bullish reversal, with Optimism eyeing a strong breakout above $1.23 as a key confirmation level.

Key Levels to Watch:

Support: $0.79 (0.5 Fib), $0.34 (0.618 Fib)

Resistance: $1.23 (Trendline), $0.1 (0.236 Fib)

If Optimism holds support and rebounds, a breakout above $1.23 could confirm a bullish reversal, targeting higher resistance levels in the coming months.