Optimism Price Prediction Signals Accumulation Breakout With Targets at $1.45 and $2.00
The post Optimism Price Prediction Signals Accumulation Breakout With Targets at $1.45 and $2.00 appeared on BitcoinEthereumNews.com.
Optimism (OP) is showing structural signs of accumulation, pointing to a potential breakout phase. Market analysts have identified compression patterns and historical support zones that suggest a bullish bias may be emerging. As technical signals begin to align, traders are watching for confirmation of a move beyond current resistance levels. Price activity across multiple timeframes indicates a transition from markdown to a possible markup cycle. Wyckoff Accumulation Pattern Aligns With Long-Term Support Technical analyst Barry (@ChartMonkeyBTC) shared a Wyckoff-style chart setup sourced from @TSignalyst, highlighting a multi-month accumulation zone forming above the $0.30–$0.40 support band. This range has served as a base since the first quarter of 2025, following a prolonged markdown that pushed OP from highs near $3.00. Repeated rejections at the lower trend boundary and consistently higher lows indicate that buyers have maintained control over this critical support structure. Source: X The parabolic curve overlay suggests a transition into a potential markup phase, provided the price holds above the accumulation zone. Previous breakout attempts near the $0.90–$1.00 range failed to gain momentum, forming a flat-top consolidation pattern. A breakout above this horizontal barrier could unlock further gains, with technical projections outlining initial resistance around $1.45. A secondary target near $2.00 has also been mapped, reflecting previous highs recorded in late 2024. This transition remains contingent on a volume-supported breakout from the current range. Volume Surge Meets Intraday Resistance Near $0.70 In the last 24 hours, OP traded within a narrow band, opening near $0.667 and reaching an intraday high of $0.703 before closing at $0.67. The price action suggests mild bullish intent but a failure to hold above psychological resistance around $0.70. This level has now been tested multiple times, marking it as a significant short-term barrier. The modest 0.53% gain over the period reflects constrained momentum despite…
Filed under: News - @ August 6, 2025 1:24 am