The post Optimism Price Prediction: Breakout Above $0.80 Could Trigger Bullish Continuation appeared on BitcoinEthereumNews.com.

Optimism (OP) has shown short-term weakness amid broader market volatility, but technical indicators suggest that a sustained move above $0.80 could mark the beginning of a potential bullish continuation. Current market behavior reflects a consolidation phase, with traders watching key levels for confirmation of the next directional move. Optimism Price Prediction: Consolidation Dominates Short-Term Action The hourly chart of OP/USD on Open Interest illustrates a recent retracement phase following a brief rally earlier in the week. The price peaked at approximately $0.85 on May 23 before entering a corrective structure. Since then, OP has formed a pattern of lower highs and lower lows, a signal of short-term bearish momentum. As of the latest data, the token is trading around $0.751, representing a 0.92% decline in the most recent hourly candle. Source:Open Interest Support has formed near the $0.74–$0.75 level, a zone that has previously acted as a pause or bounce point multiple times. This range is now being closely monitored as a possible accumulation area. For Optimism price prediction scenarios favoring upside movement, the price must reclaim the $0.78–$0.80 resistance area with confirmation from volume and open interest growth. Without this breakout, the market could remain directionless in the near term. The Aggregated Open Interest (OI) data reflects a notable spike during the May 22–23 rally, indicating heightened market participation and new long positions. However, as the price declined from the $0.85 level, OI began to drop as well, suggesting position closures or liquidations. The OI has since leveled off around 225 million, implying reduced speculative pressure and an uncertain directional bias. This flattening trend typically precedes a volatility expansion, either up or down. Daily Volatility and Volume Trends Suggest Market Hesitation Over the past 24 hours, OP experienced a 2.80% price decrease, trading as low as $0.75 by the…

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Filed under: News - @ May 28, 2025 7:28 pm