Optimism (OP) Price Prediction: Is The $3 Price Level Sustainable?

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Optimism is trading in the green today at $2.92, a gain of over 15% within 24 hours. Although it is still off its all-time high, OP has rallied in the market since crossing the $2 level again on January 20, 2023. The recent gains in the last 24 hours make the $3 price level seem achievable.

Despite the general crypto market pullback, the altcoin has recorded gains and looks set to break some key resistance levels. Optimism’s recent price surge can be attributed to several factors on its network. Here are some crucial developments.

Network Activities Possibly Driving The Current Rally

Optimism Network engaged in some activities both on-chain and otherwise in recent weeks. These activities could affect the token’s price and are detailed below.

Optimism Reaches Out To Turkey and Syria Earthquake Victims

Turkey and Syria experienced a devastating earthquake in the early hours of February 6, 2023, leaving around 47,000 dead and millions displaced. Humanitarian and rescue activities are in full swing, with donations coming in for the course.

Optimism has created a donation framework for earthquake relief activities for the victims. These donations are sent across multiple chains and in partnership with ConnextNetwork. The announcement on Twitter met positive reactions from the Optimism community.

Optimism Launches Airdrop Round 2

Optimism announced a follow-up Airdrop round for its users from the May 2022 Airdrop 1 event. In this round, 11.7 million OP tokens will be distributed to over 300 thousand unique wallet addresses on the network. This Airdrop seeks to reward on-chain governance participation and users of the Optimism Mainnet.

Airdrop #2 is being directly distributed to Addresses which:

🏛️ Have delegated the voting power of their OP tokens.

⛽️ Have spent more than $6.10 on gas on Optimism since May 2022 – the average cost of a transaction on L1 Ethereum.

— Optimism (@Optimism) February 9, 2023

The network is committed to distributing 19% of the initial token supply to its community using Airdrops. Eligible users are those that have delegated the voting power of their OP tokens. In addition, addresses that have spent more than $6.20 on L2 gas since March 25, 2022, are also eligible.

Airdrop events help to create awareness for a crypto project and increase adoption. The second Airdrop round will likely boost the price of Optimism and yield the desired results.

Optimism Introduces New Governance Portal Powered By Votes

The Optimism network introduced a Governance Portal built by Nounsagora as part of the plan to switch entirely to on-chain voting. The developers state that all Token House votes will now occur online through this portal. A test vote was implemented between February 10-16 to test the efficacy of the portal.

Introducing the new Optimism Governance Portal, built by @nounsagora. 🏛️

This is the first step toward transitioning to fully on-chain voting and will also serve as our delegate registry.https://t.co/fq8Ggmxkn1

— Optimism Governance (@OptimismGov) February 10, 2023

The on-chain governance model encourages more participation from the community, thus making the project a success. Optimism continues with its commitment to running a community-based crypto project where every vote counts.

Avault launches On Optimism

Avault, a platform enabling users to access Web3 Decentralized Applications (DApps) easily, has launched on Optimism. Also, users on other blockchains, such as BNB and Polygon, can interact with DApps on the optimism network with Avault.

1/ 🥳We are excited to announce Avault officially supports Optimism now.

We are grateful for the generous grant provided by @optimismFND & @lifiprotocol and belief in our project. This is the further step that we achieved on #Layer2.

More detail👇https://t.co/PBD70hk5Rp

— Avault (@AvaultOmni) February 21, 2023

This platform offers users access to features such as staking and copy-trading. This interoperability and functionality will attract more users interested in using the various DApps available to the network.

Optimism Price Prediction

Optimism is bullish today, recording its second consecutive green day as it transitions into an uptrend on the charts. Due to bullish pressure, the asset has remained above its 50-day and 200-day Simple Moving Averages (SMAs) since the golden cross formed on the chart.

However, the token’s Relative Strength Index (RSI) is 59.97, which is about to exit the neutral zone. Although the RSI currently displays neutrality, it points upwards, indicating a possible bullish trend ahead.

Optimism (OP) Price Prediction: Is The $3 Price Level Sustainable? — Source: Tradingview.com

OP’s Moving Average Convergence Divergence (MACD) is on the opposite side of the prevailing bullish trend. The MACD is below its signal line, which is a bearish sentiment. But it is pointing upward and might cross over the signal line soon.

Optimism’s support levels are $2.01, $2.18, and $2.44; the resistance levels are $2.87, $3.04, and $3.30. After the slight pullback on February 21, the asset has resumed its uptrend. As a result, OP will likely break the $3.04 resistance and trade at that level for the coming weeks.

These Presales Will Earn You Rewards

While Optimism is gaining in the market today, some altcoins presales could also yield profit for investors. Some presales are in their advanced stages and will wrap up soon for launch.

Fight Out (FGHT)

Fight Out is a Move-To-Earn innovative platform. It utilizes web3 technology powered by the Ethereum blockchain. The platform has attracted the interest of elite athletes as it rewards users for living fit and healthier lives.

It provides guidance and fitness plans for users to access on a mobile app. FGHT, the native token, is currently on presale and has raised close to $4.56 million and counting. The FGHT token is ERC-20 compliant and will power the Fight Out ecosystem.

C+Charge (CCHG)

C+Charge is a platform that provides charging solutions for Electric Vehicle (EV) owners while offsetting the carbon footprint. Carbon emission is a nagging environmental issue but can be controlled with cleaner alternatives.

The platform will offer a P2P payment system for users to pay for EV recharges. The Initial Coin Offering (ICO) has raised nearly $1.42 million, and the token is in its third presale stage. Currently, each CCHG token is worth $0.016. However, the price will increase on March 1, 2023, to $0.017.

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