The post Optimism Price Analysis: Testing Breakout Levels Toward $1 appeared on BitcoinEthereumNews.com.

Optimism is back in focus as its price consolidates near the $0.75 level, attracting attention from both traders and analysts. Recent technical setups show the token testing critical moving averages, which could soon decide whether the token confirms a bullish breakout or slips into deeper consolidation. Despite short-term pressure, the asset remains around the crypto’s ability to reclaim $1 if momentum strengthens OP Battles Key Resistance Around $0.75 As highlighted by Michaël van de Poppe, the memecoin is sitting at a key juncture, trading just beneath its 20-week moving average. A confirmed break above this level would be a powerful bullish signal, aligning with a similar setup on the OP/BTC chart. Historically, such breaks have triggered strong upside continuations, making $1 the next realistic upside target in the short-to-mid term. Source: X The long-term chart also outlines a clear structure of support and resistance. Price has compressed near $0.70–$0.80 for weeks, with volume gradually declining — a classic sign of accumulation before expansion. If bulls reclaim $1.24, it could confirm a range breakout, flipping resistance into support and opening the path to higher targets near $2. Still, the setup is binary. A failure to hold current levels risks invalidation, with downside exposure toward $0.60. Traders should watch the weekly close above or below the 20-week MA to confirm the next big move. Market Data Shows Strong Liquidity Despite Dip According to BraveNewCoin data, OP is trading at $0.75, marking a 7.10% decline in the past 24 hours. The token carries a market capitalization of $1.32 billion with a daily volume of $186 million, underscoring strong liquidity despite the recent dip. With a circulating supply of 1.77 billion tokens, the asset retains deep market participation, which supports its ability to sustain volatility-driven breakouts. Source: BraveNewCoin Price action highlights a tight intraday…

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Filed under: News - @ September 17, 2025 1:25 am