Optimism Price Breaks Wedge With Targets Set At $1.93 and $4.22

Optimism has broken a falling wedge pattern while the price trades near $0.79 today.

Chart targets are set at $1.93 and $2.75, with a long-term focus on $4.22.

Accumulation at wedge levels signals strong buying interest for a staged rally.

Optimism (OP) has broken out from a sharp falling wedge after months of decline, trading near $0.79 on August 23, 2025. The move comes with clear accumulation at the edge of the wedge pattern, suggesting a textbook bullish setup. Analysts have identified precise price targets with Fibonacci levels, pointing to $1.93, $2.75, and $4.22 as milestones ahead. The question now is whether OP can sustain momentum after rebounding from this dip and reclaim higher zones.

Breakout From the Falling Wedge

The weekly chart shows OP completing a falling wedge, a classic reversal pattern. This development follows an extended downturn where the token slipped below $1. The recent bounce marks a technical shift that aligns with accumulation signals.

Wedge breakouts often precede strong rallies as bearish exhaustion gives way to renewed demand. For OP, the breakout emerged at the 0.236 Fibonacci retracement near $0.79, signaling that price has respected a key level. Market structure now supports a potential upward trajectory toward higher retracement zones.

The green-marked accumulation area on the chart highlights where buyers have stepped in, validating the reversal. Sustained buying in this zone may provide the base required for further advances. This structure places OP in position to test resistance levels that coincide with higher Fibonacci points.

Key Fibonacci Targets Ahead

The first target identified sits at $1.93, aligned with the 0.618 Fibonacci retracement. This level represents the initial checkpoint for bullish continuation. A move through this price would confirm growing momentum and strengthen the case for extended gains.

The second target at $2.75 matches the 0.786 Fibonacci retracement level. This zone is often seen as a critical test in recovery phases. Holding above $2.75 would be essential for building confidence in the trend reversal.

Beyond these retracements, the chart indicates a major supply zone around $4.22. This level stands as the long-term upside goal should momentum carry forward. Breaking into this area would mark OP’s most significant recovery since its extended decline.

Market Outlook and Next Steps

Optimism’s price structure shows a clear shift in sentiment, moving from bearish pressure into potential bullish territory. The accumulation seen at the wedge boundary strengthens this outlook, giving technical traders clear confirmation signals.

Price action suggests OP is now positioned for a staged rally through Fibonacci levels. However, the path to $4.22 requires consistent demand and higher timeframe closes above each key checkpoint. Market participants will closely watch volume patterns to confirm breakout strength.

The central question remains: can Optimism convert this breakout into a lasting uptrend, or will resistance zones cap its recovery once again? With targets at $1.93, $2.75, and $4.22 mapped clearly, the next moves will reveal if OP can sustain its rebound.