Optimism just made a move that’s got traders watching closely. After weeks of choppy, sideways price action, OP finally broke through a tough resistance zone, and now it’s trying to turn that same zone into support.
As top analyst Crypto Chiefss pointed out on X, OP price broke out of its supply zone and is now retesting it. If this level holds, it could set the stage for a bigger breakout.
Looking at the 2H OP chart, the breakout is clear. OP pushed through the $0.565–$0.585 range, which had been a strong resistance area for days. The breakout came with a big green candle that took the price all the way to $0.63 before pulling back. Since then, we’ve seen a few red candles, but they look more like a healthy retest than a full rejection.
Source: X/CryptoChiefss
The key now is whether OP price can stay above that $0.565 zone. If it does, that former resistance could flip into solid support. It’s exactly the kind of setup traders like to see during trend reversals. For now, everyone’s watching to see if Optimism holds strong, or if it slips back into its old range.
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Short-Term Optimism Price Structure Still Intact
OP overall structure has shifted to short-term bullish after the recent rally. The series of higher lows and a strong push through resistance suggests buyers are gaining control. The next resistance sits near the recent high of $0.63.If the bulls can keep up the pressure, a clean break above $0.63 could pave the way for a push toward $0.66 or even higher.
But if OP price can’t hold the $0.565–$0.585 range, the breakout could end up being a fakeout. In that case, traders might look for support to kick in again around $0.53–$0.54, an area that previously acted as a base during consolidation.
The breakout had good strength behind it, with big green candles showing real momentum. The red candles, since then, have been smaller and not as harsh, which suggests this might just be a pause instead of a complete turnaround. We haven’t seen a clear bearish engulfing pattern form, so buyers could still be in the picture as long as that support level continues to hold.
Right now, the market feels like it’s in wait-and-see mode. A firm move above $0.63 could spark more bullish momentum, but a drop back below $0.565 might send Optimism price back into its old range.
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The post Optimism (OP) Price Breaks Out of the Danger Zone – Rally Ahead or Bull Trap? appeared first on CaptainAltcoin.
