In recent market movements, the price of Optimism (OP) has exhibited significant volatility, testing a crucial resistance level and sparking speculation of potential future highs. Over the past few days, OP has experienced a sharp pullback, declining by over 20% after testing a pivotal price range around $1.80–$1.90. This resistance zone has proven to be a critical point for the token’s price trajectory as traders closely watch for any signs of a breakout.
According to Michael Van De Poppe,, The price of OP has been fluctuating significantly around the $1.80–$1.90 range, a level identified as a “crucial breakout area.” This range is marked as a strong resistance zone that, if breached, could indicate a positive trend reversal for the token. Market sentiment is particularly attentive to this area, with many analysts suggesting that another successful test of this range could lead to a decisive move upwards.
The attached trading chart reveals that OP’s recent resistance test was met with rejection, leading to a price drop of more than 20% on the crypto in just a few days. Despite this decline, the token has maintained strong support and continues to build momentum near the resistance level, signaling that another attempt to break this barrier may be imminent.
Strong Build-Up Signals Potential All-Time High in January
Market observers are now speculating that if OP successfully breaks through the $1.80–$1.90 resistance zone in an upcoming test, it could set the stage for a significant rally. Some analysts are even forecasting a potential all-time high (ATH) test for OP in January, assuming positive momentum continues. This bullish outlook is fueled by the expectation that a breakout above this range would increase buying interest, potentially leading to a rapid price surge.
The technical indicators shown on the chart, including volume trends and relative strength index (RSI) levels, suggest that OP is gearing up for heightened volatility. As market participants closely monitor the token’s performance, a breakout could drive OP toward the next target zone, which lies significantly above the current resistance range.
According to technical analysis, OP displays a strong buildup of support near its resistance, which typically precedes a breakout. This pattern reinforces the bullish sentiment as the token prepares for another attempt to break above its recent highs. The chart highlights a possible next target zone in the $2.50 range, which OP could approach if it successfully clears the $1.80–$1.90 resistance.
In the coming weeks, traders will pay close attention to OP’s price action, with the $1.80–$1.90 range acting as the critical level to watch. If the token can break through and sustain momentum, it could pave the way for a strong rally into January, possibly challenging previous ATH levels.
