Analyst Projects 340% Optimism (OP) Surge as Key Levels and Triangle Pattern Align Bullishly

• Fibonacci projections set $OP price targets at 5.561 USDT and 7.216 USDT, marking bullish rally endpoints if trend holds.
• An ascending triangle pattern supports $OP’s potential breakout above 1.672 USDT, with support at 1.061 USDT.
• Strong RSI and MACD momentum signals indicate buyer dominance, increasing odds of a rally if $OP clears resistance at 1.85 USDT.

Analyst Ali notes Optimism ($OP) is on track to repeat a historic bullish setup, with potential gains reaching 340%. He highlights an ascending triangle formation often linked to price rallies, projecting a target of $7.20 based on Fibonacci levels. Ali’s analysis identifies key levels and market structures as signs of strong bullish potential.

Fibonacci Levels Indicate Key Price Targets

Optimism’s movement aligns closely with Fibonacci retracement and extension levels, commonly used to identify support and resistance zones. These levels guide expectations for potential price moves. Notably, past price points of 0.618 (3.237 USDT) and 1.618 (4.770 USDT) previously served as significant levels, marking common consolidation points.

In this setup, Optimism is forming a series of upward targets, with projections at 5.561 USDT and, further up, 7.216 USDT. These projections are based on prior high-to-low movements, creating levels analysts use to gauge potential rally endpoints if the bullish trend holds steady.

Trend Patterns and Breakout Potential

Ali emphasizes a developing ascending triangle pattern, characterized by stable resistance and upward-trending lows, creating a bullish formation. Support within this triangle rests around 1.061 USDT, with a horizontal resistance near 1.672 USDT. This pattern suggests a possible breakout if the price exceeds the resistance level, signaling a stronger uptrend.

If Optimism pushes through the 1.672 USDT resistance, the price may accelerate toward the Fibonacci targets of 5.561 and potentially 7.216 USDT. However, the price must hold above the current support to maintain this structure. A drop below the 1.061 USDT level could shift the trend downward, challenging the bullish outlook.

Indicators Confirm Strengthening Momentum

The RSI and MACD indicators, reinforce the positive outlook. Currently, the RSI reads at 60.28, above the neutral line and with room to move higher. This upward RSI trend is accompanied by consistent increases, confirming growing bullish momentum.

The MACD line, positioned above the Signal line at 0.033, indicates positive momentum, as evidenced by rising histogram bars. This trend suggests buyers are dominating, supporting the likelihood of a rally if the price overcomes the 1.85 USDT resistance level. These indicators point to an overall bullish outlook, with traders eyeing a potential breakout.