Optimism (OP) Price Prediction 2023-2030: Will OP Price Hit $10 Soon?

• Bearish Optimism (OP) price prediction ranges from $2.25 to $7.
• Analysis suggests that the OP price might reach above $10 soon.
• OP bearish market price prediction for 2023 is $2.

What is Optimism (OP)?

If you’re an Ethereum fan, you’ve probably heard of Optimism (OP), a layer-two blockchain that aids in the scaling of the Ethereum ecosystem. This innovative platform takes advantage of the Ethereum mainnet’s security while using optimistic rollups to record transactions easily.

Optimism has become one of the most significant scaling solutions for Ethereum, with over $500 million in Total Value Locked (TVL) and 97 protocols. It is home to some of the most popular protocols, including Synthetix (SNX), Uniswap (UNI), and Velodrome (VELO), giving users a variety of choices.

If you want to get started with Optimism, simply add the chain to your Metamask and bridge tokens such as ETH to the L2. And, if you’re lucky, you might have taken part in Optimism’s highly anticipated airdrop of the OP token on May 31, 2022.

Overall, Optimism is a promising platform that has piqued the interest of many members of the Ethereum community. It’s no surprise that it’s become a significant player in the world of blockchain, given its unique approach to scalability and security.

Optimism is a layer-two blockchain solution that aims to simplify Ethereum scaling by reducing the number of moving parts. The architecture of optimism is based on four core tenets: simplicity, pragmatism, sustainability, and, of course, optimism. It achieves simplicity by employing tried-and-true Ethereum code and infrastructure wherever possible, and by keeping its codebase as simple as possible. Furthermore, pragmatism drives the team’s and users’ real-world needs, with features implemented iteratively.

The Optimism ecosystem is built for long-term sustainability, with no shortcuts to scalability. Optimism uses optimistic rollups and the Ethereum consensus mechanism to scale the network. Blocks are built and executed on the L2 (Optimism), whereas user transactions are batched and sent to the L1 (Ethereum). This guarantees a smooth user experience while ensuring security through the Ethereum consensus mechanism. Transactions are submitted to Ethereum without direct proof of validity and can be challenged for a certain period, after which a transaction is considered final.

Optimism’s simplicity, pragmatism, and sustainability have helped it become one of the most prominent scaling solutions for Ethereum. With over $500 million in TVL and hosting 97 protocols, Optimism has made it easy for users to begin their journey on the platform by bridging tokens like ETH to the L2. Furthermore, on May 31, 2022, Optimism conducted a highly anticipated airdrop of its OP token. The combination of simplicity, pragmatism and sustainability has made Optimism a powerful solution for scaling Ethereum, with many more exciting developments expected in the future.

Optimism leverages optimistic rollups, which enable it to securely record transactions on its layer-two blockchain and periodically share the transaction data with the Ethereum mainnet through merkle roots. The merkle roots are then validated by external validators, ensuring the accuracy and security of the recorded transactions. Withdrawing funds from layer-twos running on optimistic rollups is subject to a one-week delay, as transactions require validation from the Ethereum mainnet.

Optimism (OP) Market Overview

Name	Optimism
Symbol	op
Rank	#60
Price	$2.55
Price Change (1h)	-0.24035 %
Price Change (24h)	-7.63575 %
Price Change (7d)	8.688 %
Market Cap	$803143609
All Time High	$3.22
All Time Low	$0.402159
Circulating Supply	314844141 op
Total Supply	4294967296 op

Optimism (OP) Current Market Status

According to CoinMarketCap, Optimism (OP) is hovering at $2.78 at the time of writing, with a total of 314,844,141 OP in circulation. OP has a 24-hour trading volume of $327,658,595, with a 14.91% decrease. And during 24 hours, the price of OP decreased by 2.52%. 

The most popular crypto exchanges to trade Optimism (OP) are Binance, KuCoin, Coinbase, Gate.io, Huobi, Bybit, and Bitget. Let’s continue with our OP price research for 2023.

Optimism (OP) Price Analysis 2023

OP ranks 61st on CoinMarketCap’s list of the biggest cryptocurrencies by market capitalization. Will OP’s most recent improvements, additions, and modifications help its price rise? First, let’s focus on the charts in this article’s OP price forecast.

Optimism (OP) Price Analysis – Keltner Channel

When volatility bands are positioned on either side of an asset’s price, it is possible to determine the direction of a trend with the help of the Keltner Channel. The price of Optimism (OP) can be predicted using the Keltner Channel indications for OP/USDT. The price is in the first half of the channel, meaning that people are buying OP rather than selling. Even after establishing a new trend, we should wait for a downturn or a better entry point to improve the reward-to-risk ratio.

Optimism (OP) Price Analysis – Relative Strength Index

In technical analysis, the relative strength index (RSI) is a momentum indicator. It examines the speed and amplitude of a security’s recent price swings to determine if it is overvalued or undervalued. The value of the 1-Day chart is 53.47. RSI above 50 indicates people are loading OP lately despite the bear market. However, if this continues, OP can reach the critical area of the RSI level of 70 where an expected reversal can happen. Moreover, investors should take note of other price actions before taking the trade for a better risk-to-reward ratio.

Optimism (OP) Price Analysis – Moving Average

The above bullish chart of OP is showing that OP has formed the golden cross movement of the 50-day MA crossing over the 200-day MA at the 1-day technical chart. Moreover, the digital asset has been trading above 200-day MA meaning that OP is in a bullish trend at the moment. Investors should wait for a few reversals or pullbacks before taking the trade for a low-risk entry.

Optimism (OP) Price Prediction 2023

Looking at the daily chart of OP/USDT, OP has finally reversed from its downward trend and heading bullish since the beginning of 2023. It finally made a break out from its previous structure at January 13, 2023. Currently, OP has been trading above the 200-day MA, meaning that the market is currently bullish. However, we still need to consider a breakout to one side of the support or resistance for a clear market structure.

Meanwhile, our long-term OP price prediction for 2023 is bullish if it cannot break the support level. We can expect OP to reach $6.1 this year. 

Optimism (OP) Price Prediction 2024

The cryptocurrency market is known to repeat history, and most cryptocurrencies follow the Bitcoin trend. With 2024 as the year of the Bitcoin halving, there will be many sentiments toward the market, which is always bullish. We can expect the price of Optimism (OP) to react positively to the news and trade at around $8.3 by the end of 2024.

Optimism (OP) Price Prediction 2025

The effect of any Bitcoin correction is experienced in the following year from recent history. If OP ends in 2024 for $72 or more, we can expect the price of OP to grow in 2025. This could make OP trade at $14.5 or more in 2025, considering investors will be bullish.

Optimism (OP) Price Prediction 2026

With the rise in cryptocurrency adoption in the mainstream, we can expect a possible market reversal in 2026 to have little impact on the recent gains in the price of OP. Hence, Optimism could end in 2026 at around $21.7 or more. 

Optimism (OP) Price Prediction 2027

The most bearish market is followed by market consolidation in the next year. If the year 2026 turns out to be bearish for OP, we could expect the market to stabilize in 2027 and even trade higher. Hence, it is possible to see OP trade at around $26.7 in 2027.

Optimism (OP) Price Prediction 2028

Optimism will likely trade above its 2025 price prediction of $120 in 2028 due to the Bitcoin halving. With the powerful sentiment of investors to buy more cryptocurrencies, a buy pressure could be seen in the market, which will make OP trade at around $36 in 2028. 

Optimism (OP) Price Prediction 2029

The most impact of a bullish sentiment resulting from Bitcoin halving is mainly experienced in the coming year. We can expect the price of OP to break more psychological resistance and trade around $45 by the end of 2029. Also, OP is highly likely to break its all-time high value. 

Optimism (OP) Price Prediction 2030

The impact of cryptocurrency adoption could stabilize the market by 2030, sustaining the bullish gains of the previous years. Hence, we can expect the price of OP to trade above $63 by the end of 2030. Also, OP is highly likely to break its all-time high value. 

Optimism (OP) Price Prediction 2040

OP is predicted to surpass more psychological resistance levels and trade around $140 by the end of 2040, potentially even surpassing its all-time high value.

Optimism (OP) Price Prediction 2050

By the year 2050, the widespread adoption of cryptocurrencies is predicted to stabilize the market and maintain the previous bullish gains. As a result, we can anticipate OP to trade above the $330 mark towards the end of 2050. 

Conclusion

As said above, it may reach over $10 if investors have decided that OP is a good investment along with mainstream cryptocurrencies.

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.