Optimism (OP) Breaks Descending Triangle as Technicals Hint at $2.74 Breakout

Optimism remains the driving force behind the Superchain on the Ethereum network, as it increases the number of users on L2s safely. Layer 1 blockchains aren’t able to process a number of transactions, hence the use of L2s, which offer faster movements and flexibility to execute code and a seamless experience for users. Base, World Chain, and Celo use the network’s solution.

Optimism enables the miniPay of Celo to facilitate global payments quickly, while it also enables the growth of Worldcoin through the use of the World App, which is currently the most widely used wallet globally on a monthly active basis (Sensor Tower). By integrating Ethereum’s security with scalable technology, this network enables many well-known blockchain applications on the Superchain.

OP Breaks Descending Triangle, Eyes Rally Toward $2.74

However, the crypto analyst, Whales Crypto Trading, revealed that the OP chart indicates a descending triangle, which contains price actions from late 2024 to mid-2025.

This is due to the fact that prices were testing the support level of $0.57 to $0.63 while forming lower highs. This indicates a bearish sentiment within a descending triangle. Recently, prices broke above the descending trend line, which indicates a possible breakout. MA50 is at $0.79.

Source: X

If it holds above $0.79-$0.85, the token may target $0.97, then $1.19. If it holds strong, it may target $1.59, ultimately to $2.74. In the short run, risk is still in the area of support at $0.63; a breakdown could see it return to $0.57. RSI/MACD must indicate strength before taking large positions.

Also Read: Optimism Crypto Set to Soar: Price Targets $0.41–$0.47 in Sight

Momentum Indicators Hint at Early Stabilization

The current RSI for a week is approximately 37, which is lower than the midpoint of 50. This indicates that bearish momentum is still in play. However, it remains above 30. This indicates that the asset is not oversold anymore. This recent increase indicates a possible start of a short-term momentum rebound.

Source: TradingView

The MACD remains below the zero line, and the overall downtrend is still intact. However, the MACD line is attempting to cross above the signal line. Moreover, the histogram has turned slightly positive. This is a hint that the selling pressure is slowing down, and a possible initial breakout on the upside can be expected.

Also Read: Optimism Poised for Massive Surge: Could Hit $3.00 Soon!