Optimism (OP) Breaks Trendline as Price Hits $0.5900 with 7.61% Daily Gain

OP price stands at $0.5900, up 7.61% in 24 hours.

Volume jumped 66.37%, totaling $255.75M over the same period.

RSI is at 67.99, nearing the overbought threshold.

Optimism (OP) traded at $0.5910 on the report date, up 7.61% intraday. The token broke above a downtrend line on the daily chart for the first time since the end of 2024. This breakout is after a long negative trend during the first half of 2025. An upward trend in the trading volume followed the breakout, a sign of a more aggressive market participation.

The latest price movement set OP above the long-term trendline that had been supportive since December 2024. That breakout area coincides with the $0.58-$0.59 zone that currently serves as a price pivot on a shorter-term basis. The move came after several failed attempts in June, and the price is now consolidating near $0.5900.

Momentum Builds with Technical Indicators Showing Alignment

Momentum indicators on the hourly chart support the current uptrend.The Relative Strength Index (RSI) is at 67.99, close to the general overbought line close to 70. In the meantime, the MACD histogram is placed in the positive area, and both MACD and signal lines stand at 0.010.

Source: TradingView

These levels represent near-term levels of price strength, particularly due to RSI being above the neutral 50 line. However, the positioning near the upper RSI boundary means that market reactions at this level remain critical to watch. Short-term traders may monitor whether momentum sustains or cools near current resistance.

Market Capitalization and Volume Metrics Support Current Move

OP’s market capitalization now stands at $1.03 billion, up 7.61% over the last day. This value aligns with the current unlocked market cap of $1.23 billion. Notably, the 24-hour volume increased sharply by 66.37% to $255.75 million. This spike pushed the volume-to-market cap ratio to 24.75%, marking a significant liquidity increase.

Source: CoinMarketCap

The change in volume and price behavior coincides with technical structure changes on the daily chart. While the fully diluted valuation (FDV) remains at $2.53 billion, the circulating metrics have shifted considerably during this short-term upswing.

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