bravenewcoin.com
Although the broader market remains cautious, several technical indicators across multiple timeframes suggest that the token may be entering a phase of reduced selling pressure, with the potential for a midterm recovery if key resistance levels are reclaimed.
The OP token, which serves as the native asset of the Optimism Layer 2 scaling solution for Ethereum, has faced heavy selling in recent months. However, recent data from price action, open interest, and volume metrics point toward a possible shift in momentum, as both volatility and directional bias begin to flatten.
OP Price and Open Interest Show Signs of Capitulation
Additionally, the 1-hour chart for optimism price prediction on Open Interest reveals a significant downtrend that has unfolded since May 30, when the token fell from levels above $0.80 to below $0.63. After a brief consolidation phase between May 31 and June 3, the price failed to generate a strong bounce, eventually slipping further to trade near $0.624. This continued weakness was marked by subdued buying interest and a lack of sustained bullish follow-through.
Source: Open Interest
Open interest data supports the interpretation of weakening momentum. Aggregated open interest, representing the total number of outstanding derivative contracts, declined in tandem with the price, especially after June 5. This suggests that the recent sell-off was likely driven by liquidations and risk-off behavior, rather than new short positions. A brief spike in OI on June 6, followed by a sharp decline, indicates that speculative positioning remains cautious. Without consistent growth in open interest, it is unlikely that momentum will shift meaningfully in favor of buyers in the short term.
Despite this, the fact that the price has not made new lows following the recent drop may indicate early signs of price exhaustion. For traders, a sustained move back above the $0.65–$0.67 region, coupled with renewed open interest growth, would serve as an early confirmation of a shift in short-term sentiment.
24-Hour Chart Shows Bullish Reversal Attempt
Zooming to the 24-hour price chart of Optimism price prediction reflects a modest but notable recovery, with the token rising approximately 4.65% to reach $0.63. The price movement began below $0.59 during early trading on June 6 and showed steady upward momentum into June 7, briefly peaking at $0.626. The chart captured a brief mid-session dip, followed by a more robust rebound, suggesting that traders may be buying into perceived value zones or reacting to technical support levels.
Source: Brave New Coin
Volume trends during this period were supportive of the bullish attempt. With trading volume reaching $175.84 million, the activity was significantly elevated relative to previous sessions. This level of participation indicates genuine market engagement, potentially from both retail and institutional investors. The steady rise in price alongside consistent volume suggests that the upward movement was driven by real buying pressure rather than temporary volatility or low-liquidity spikes.
From a fundamental standpoint, Optimism continues to play a strategic role in Ethereum’s broader scaling roadmap. The OP Stack supports a growing number of Layer 2 networks, including Coinbase’s Base, Uniswap’s Unichain, and World Coins World Chain, thereby strengthening the protocol’s ecosystem relevance.
Combined with community governance and a structured revenue-sharing model, these integrations provide a long-term use case for OP, even amid short-term price fluctuations.
Weekly Indicators Signal Potential Bottom Formation
A broader view from the weekly OP/USDT chart on Binance shows that the token is trading near its lower Bollinger Band, currently at $0.392. The price, hovering around $0.625, remains well below the 20-week simple moving average (basis) at $0.877 and has yet to test any significant breakout levels. Recent candles on the chart reflect tight price ranges and low momentum, signaling a potential period of accumulation or indecision.
Source: TradingView
Technical indicators also suggest that bearish momentum may be fading. The MACD indicator, while still in negative territory, shows signs of early convergence. With the MACD line at -0.260 and the signal line slightly lower at -0.274, the histogram has turned marginally positive at 0.014.
This pattern often precedes a shift in momentum, though confirmation is required through stronger price performance and higher volume. A break above the baseline near $0.88 would be a key milestone in validating a potential trend reversal.
Until such a breakout occurs, the current outlook leans neutral to cautiously bullish. The narrowing MACD and stable price movement near the lower Bollinger Band indicate that sellers may be losing control, but buyers have not yet regained dominance. Volume increases in tandem with upward price movement will be essential for sustaining any rally.
Outlook: Optimism Price Prediction Hinges on Reclaiming Resistance
Based on current technical conditions, the price prediction for Optimism leans toward a potential midterm recovery, assuming key resistance levels are tested and reclaimed. Re-establishing support above $0.65 and eventually moving toward $0.70–$0.88 would strengthen the bullish case and suggest the beginning of a broader recovery cycle.
However, without continued volume support and rising open interest, the token may remain range-bound or risk further downside. Traders and investors will be closely watching the $0.60–$0.63 support area, which has recently provided a temporary floor. A breakdown below this zone would likely shift sentiment back toward bearish continuation.