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

• Bullish OP price prediction is $1.456 to $2.204.
• Optimism (OP) price might also reach $5 soon.
• Bearish OP price prediction for 2022 is $0.434.

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 $1.13 with a 24-hour trading volume of $199,018,533 at the time of writing. However, OP has increased by nearly 8.0% in the last 24 hours. 

Moreover, Optimism (OP) has a circulating supply of 214,748,364 OP. Currently, Optimism (OP) trades in cryptocurrency exchanges such as Binance, WhiteBIT, KuCoin, OKX and Gate.io.

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 147th position on CoinGecko right now. OP price prediction 2022 is explained below with a daily time frame.

The above chart of Optimism (OP) laid out the Falling Wedge pattern. In a falling wedge pattern, both the upper trend line which connects the highs and the lower trend line which connects the lows converge downwards. The wedge pattern in general indicates a trend reversal. Especially, the falling wedge signals a bullish reversal. This pattern indicates a breakout in the price trend towards an upswing. 

Currently, Optimism (OP) is in the range of $1.066. If the pattern continues, the price of OP  might reach the resistance levels of $1.088, and $1.314. If the trend reverses, then the price of OP may fall to $0.988

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).

Resistance Level 1	$1.456
Resistance Level 2	$2.204
Support Level 1	$0.978
Support Level 2	$0.648
Support Level 3	$0.434

The charts show that Optimism (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 $2.204.

Accordingly, if the investors turn against crypto, the price of Optimism (OP) might plummet to almost $0.434, a bearish signal.

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

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

Also, the Moving Average (MA) of Optimism (OP) is shown in the chart above. Notably, the Optimism (OP) price lies below 50 MA (short-term), so it is in a downtrend. Currently, OP has entered a bearish state. Therefore, there is a possibility of a reversal trend of OP at any time.

Meanwhile, the relative strength index (RSI) of the OP is 43.00. This means that Optimism (OP) is in an oversold state. However, this means a major price reversal of OP may occur in the upcoming days. So, traders need to trade carefully.

Optimism (OP) Price Prediction 2022 — ADX, RVI

Let us now look at the 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, the ADX of OP lies in the range of 31.002 and thus, it indicates a strong trend.

 The above chart also represents 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 below 50, indicating low volatility. In fact, the RSI of Optimism (OP) is at 43.00 thus confirming a potential buy signal.

Comparison of OP with BTC, ETH

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

From the above chart, it can be interpreted that ETH, BTC, 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 $10 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 $15 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 $20.  

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 $30. 

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 $35.

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 $40 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 $45 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  $2.204. On the other hand, the bearish price prediction of Optimism (OP) price prediction for 2022 is $0.434.

Furthermore, with the advancements and upgrades to the Optimism ecosystem, the performance of OP would help to reach above its current all-time high (ATH) of $2.21 very soon. But, it might also reach $5 if the investors believe that OP is a good investment in 2022.

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, WhiteBIT, KuCoin, OKX and Gate.io.

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 $10 by 2023.

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

Optimism (OP) price is expected to reach $15 by 2024.

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

Optimism (OP) price is expected to reach $20 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.

Recommended For You :