Cryptocurrency News – Optimism (OP), one of the altcoins in the cryptocurrency market, attracted the attention of investors with its 5.95% increase. The altcoin rose to its current price of $1.60 with its recent rally.
While short-term predictions are that the price will drop to around $1.45 after a 3.5% drop, long-term predictions are positive. Analysts think the OP price will rise to $6.41 by 2025, an increase of 301%.
Market data shows that Optimism, a leading layer two scaling solution for the Ethereum blockchain, is attracting the attention of crypto investors with a seemingly more significant uptrend.
CoinMarkeCap data shows that in the last 24 hours, crypto investors bought and sold over $88 million worth of OP tokens. Thus, while the trading volume increased by 27.45% in the last 24 hours, the price increased by 5.95%.
OP price analysis
According to a recent report from Coincodex, the OP price will drop 3.5% by August 3 to $1.450433. Technical indicators suggest current market sentiment is neutral, with the Fear & Greed Index standing at 52.
One of the critical indicators taken into account in the analysis is the RSI rate. RSI is currently neutral for OP at the 55 mark.
The data also shows that over the last 30 days, Optimism has been in the green for 14 out of 30 days (47%) and has a volatility of 9.31% during this period. According to analysts, the current situation is promising for the long term. Therefore, it may be a good choice for investment.
An increase of over 300% is expected
Analysts set the annual low price prediction for Optimism in 2024 at $1.358640. The positive side of this prediction is that the price of the altcoin is thought to rise to $ 2.43 within the next year.
Interestingly, the price prediction for 2025 is $6.41. This means there could be a 301% rise from the current price.
