- Optimism is breaking through key resistance with bullish momentum, putting a potential $3 rally in sight soon.
- Network adoption is increasing and active addresses are up 16.7%, indicating strong demand for optimism.
Optimism [OP] has successfully broken past the long-standing resistance zone of $1.80-$1.90, a barrier that has held for over 150 days. The breakout, supported by strong trading volume and bullish momentum, signals growing interest in this asset.
While OP reached $2.28 At the time of writing, a slight market correction is expected, with potential pullbacks providing opportunities for accumulation.
Breakout above $1.80-$1.90 resistance
The $1.80–$1.90 range acted as a crucial resistance level for optimism during the consolidation phase. Exceeding this range represents a shift in market sentiment and marks the start of a potential uptrend.
This level previously acted as a strong barrier, with buyers now showing renewed interest.
Crypto analyst Michaël van de Poppe observed that the outbreak puts optimism on a bullish trajectory. He stated,
“These corrections (all the way towards $1.80–$1.90) offer a second chance before the price goes to $3.”
Source:
Historical trends show that such pullbacks often act as retests, with prices revisiting previous resistance to confirm it as support before resuming their upward movement.
Path to $3.00 and above
The next major resistance for OP is at $3.00, a level that could serve as a crucial target for traders. If the zone between $1.80 and $1.90 holds during a correction, OP is expected to consolidate and gain momentum for another boost.
A break above $3.00 could pave the way for sustainable price growth in the medium term.
Data shows that Optimism has a circulating supply of 1.3 billion tokens and a market cap of $2.87 billion. With a 24-hour trading volume of $796 million, OP is down 2.39% over the past 24 hours, but remains up 32.55% over the past seven days.
This recent surge highlights the growing market activity surrounding the token.
Data from the chain shows growing acceptance
On-chain data from InTheBlok reflects the steady growth of networking activity. 2,84,000 new addresses have been created in the last seven days, adding to the current 16,37,000 active addresses.
Zero-balance addresses are down 11.72%, indicating that previously inactive wallets are now connecting to the network.
Source: IntoTheBlock
These statistics indicate increasing user adoption and increased levels of engagement with Optimism’s Layer-2 blockchain.
The growth in the number of active addresses, which increased by 16.7% in the past week, indicates strong interest in the network’s potential.
Transaction volume reflects healthy network activity
Optimism transaction volume also shows variability but remains robust. The seven-day average is 212.62 million OP, peaking at 271.01 million OP on November 22.
Realistic or not, here is OP’s market cap in BTC terms
The lowest volume during this period was 148.75 million OP, recorded on November 25.
Source: IntoTheBlock
These fluctuations indicate active trading and utility on the network, indicating that traders and users are engaging with the ecosystem amid ongoing market movements.
