Crypto markets move in cycles, and sometimes the clearest signals come after a long stretch of weakness. Optimism’s token OP seems to be entering that kind of moment.

Analyst Alex Clay recently highlighted a sharp pattern on the chart that suggests the OP price could be setting up for a major move. His view is that this isn’t just another bounce, but a textbook recovery scenario that traders have seen play out before.

Alex Clay shared his chart of OP after spotting what he called a “breakout from a sharp falling wedge.” That might sound technical, but the idea is simple. OP has been stuck in a steady downtrend for months, sliding into a corner where sellers have less room to push lower.

When that type of wedge breaks, it often signals the start of a new trend. Clay added that accumulation is happening right near the bottom, which he sees as an early sign of strength.

Optimism itself is not just another Ethereum scaling project. It uses what’s called an optimistic rollup, which lets it process transactions faster and cheaper while still relying on Ethereum for security. Think of Ethereum as a busy city and Optimism as a faster highway that runs above it.

Cars (or transactions) can move smoothly without the traffic jam, while still connecting back to the city’s main roads. That’s why many developers and users are watching Optimism closely. Its tech gives it long-term importance, while short-term traders focus on the OP price chart.

Clay outlined clear zones to watch. His first target for OP price sits at $1.9390, which lines up with a key Fibonacci retracement level. The next target is $2.7550, marking another resistance area.

If momentum continues, his chart shows a larger goal near $4.2270, described as a “major supply zone.” These levels are not promises, but they do give a roadmap for how the token might progress if the breakout gains traction.

What makes Clay’s analysis interesting is how clean the setup looks. The falling wedge was sharp, the breakout was decisive, and the bounce is forming right at the edge.

Read Also: Bitcoin Bull Run Nears the End? Analysts Warn Market Top Could Be Just 2 Months Away

Traders often compare such setups to patterns that launched earlier rallies in tokens like Solana or Polygon during their recovery phases. That’s why many see this moment for Optimism as more than just another uptick. It represents the type of shift that can change sentiment.

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The post Optimism (OP) Price Looks Ready to Spike: Key Targets You Need to Watch appeared first on CaptainAltcoin.

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