Optimism OP Price Prediction: Will It Break The $3.48 Resistance?

Optimism (OP) is living up to its name on the price charts with the token trading in the green today. OP is currently trading at $3.02, with a 2% decline after fairing on the chart. It traded around $1 for most of January before increasing to $2 on January 20.  

Yesterday’s closing price of $2.81 was its best performance for the year up till today. The recent price performance might be related to the improvements and engaging events on the network. 

OP Labs Shares Information On Bedrock Technology

The Optimism Goerli Testnet was successfully upgraded and an upgrade proposal for Optimism Mainnet has been submitted to the Token House.

With Bedrock in sight, we’d like to share more about the technical vision behind it:https://t.co/UDnbDaFUTj

— Optimism (✨🔴_🔴✨) (@optimismFND) February 3, 2023

OP Labs informed the optimism community of the official release of its OP Stack technology Bedrock that powers the Optimism network. The upgrade presents users with lower fees and shorter deposit or transaction times.

After nearly a year of rigorously re-imagining how rollups should work, we are proud to share our technical explainer for Bedrock.

Bedrock is the first named release of the OP Stack, a set of MIT-licensed open source rollup software that powers Optimism.https://t.co/FoAQDy4rft

— OP Labs (@OPLabsPBC) February 2, 2023

Also, it offers improved proof modularity and node performance for users on the network. Bedrock bears striking similarities to the Ethereum network. A detailed guide is in the Bedrock Explainer on the Optimism network.

1/ Optimistic about NFTs? ❤️

WE ARE. You can now access historical NFT sales data on @optimismFND, starting with @opensea‘s massive marketplace 🤯

Try it now! 👇https://t.co/JCUB60FQeH pic.twitter.com/5zaV1AE4RC

— Alchemy | The web3 developer platform (@AlchemyPlatform) January 27, 2023

Alchemy, the Web3 developer platform, has announced that users can access past NFT sales data on the OptimismFND platform. It serves as NFT support for Optimism and will help users to build NFTs on the platform. The developers also added improved features, such as better spam detection and image caching.

These improvements on the Optimism network have helped to push its latest rally. Web3 innovations are now trending, and interest in the platform has increased.

Optimism Technical Analysis: How Far Can The Optimism Rally Go?

OP is trading in an uptrend today in the price charts recording four consecutive green days since January 31, 2023. The uptrend started on January 6 and has continued, with slight pullbacks on red days.

The asset is trading above its 50-day and 200-day Simple Moving Average, which is a bullish signal. The bulls are relentlessly driving up the asset’s price with their trading activities in the market. A golden cross formation on the chart strengthened the trend and triggered a price increase.

The support levels are $2.20, $2.44, and $2.63; the resistance levels are $3.05, $3.29, and $ 3.48. Optimism is currently testing its first resistance level and will

likely surpass it as it continues its ascent. The price pivot was at the $2.87 level and supports the uptrend. OP has recorded progressive gains from January 1 and may likely continue with the same price behavior.

The RSI is 75.96, which is in the overbought region. This is a buy signal for short-term traders that might take advantage of the current price uptick. The MACD is also bullish and is above its signal line. It is pointing upwards and confirms the prevailing bullish trend in the market. 

Optimism has recorded a 9% increase in its price, according to CoinMarketCap data. The asset may continue to increase in value and surpass the $3.48 resistance in the coming days.

These Coins Will Boost Your Investments

These crypto projects are worth investing in and have recorded tremendous success in different presale stages.

Meta Master Guild (MEMAG)

📣 #MEMAGFAM, over $2.5M has been raised! 📣

❤️‍🔥 The support has been UNREAL 🤯 Thank you! 🫡

💪 if you haven’t already, secure your place in the metaverse and be a part of the #MEMAGFAM. ⚔️

Buy $MEMAG now! ⬇️https://t.co/SBqVjX5mWn#presale #p2e #metaverse #tokens pic.twitter.com/elhddxp3Wd

— Meta Masters Guild (@MEMAGgames) February 2, 2023

This gaming multiverse seeks to engage users with its innovative Web3 gaming designs. The network will launch three new games soon; Raid NFT, Meta Masters World, and Meta Kart Racers.  

The presale has succeeded, with the team raising over $2.63 million. MEMA, the native token of the ecosystem on presale is currently worth $0.019 and will increase to $0.019 by the next stage. Users can take advantage of these presales before they launch the token on exchanges.

Fight Out (FGHT)

This platform encourages physical fitness and activity among its growing fanbase. It is a move-to-earn platform and rewards users based on their activities. The Fight Out token FGHT is on presale and has raised over $3.2 million since it began. Currently, one FGHT token is worth $0.033 and will only increase in value moving forward.

It has attracted the interest of many individuals since it aids them in healthy and happy living. The platform can reward initial investors once the presale stage is over.

C+ Charge (CCHG)

This platform focuses on providing an energy-efficient solution to electric vehicle owners. C+Charge, believes that blockchain technology can proffer effective solutions to charging issues faced by electric vehicle owners.  EV owners on the platform will earn carbon credits for charging. 

This move makes the market more accessible for electric vehicle owners. The CCHG token will power the revolution and facilitate faster payments. The token is currently on presale and has raised above $370,000 in its early stages.