[Optimism (OP) Hits New ATH, Target Surges 62% to $6]
Optimism (OP) has been trading within an ascending parallel channel since its launch in May 2022. Well-known market analyst Ali Martinez published an article on X predicting a 62% growth in OP price to reach a new high of $6.
Since last May, OP prices have shown diverse reactions in different market conditions. Especially in mid-June last year, affected by the Terra crash, the OP price fell to a record low of $0.396. OP then staged a rebound, achieving a whopping 466% gain in August 2022, reaching $2.243. The price then pulled back a bit, but climbed back up to $3.29 in February 2023.
Ali’s data shows that OP has been trading within an ascending parallel channel since last May, with its highs and lows continuing to rise. Analysts pointed out that OP is currently in a price discovery phase, and the market is actively evaluating its value, which may be accompanied by increased volatility.
Analysts stress that OP’s uptrend will continue to dominate its price action. Since last October, OP has broken above the midline of the parallel channel and recently hit a new high of $4.13. Ali forecasts OP’s next price target of $6, implying a 62% upside.
Currently, OP holds steady at the support level of $3.698 and despite losing 4% today, 24-hour trading volume increased by 30% to $970,055,817, making it the 15th most traded cryptocurrency on the market.
