Optimism (OP) is currently trading at $0.71, testing a critical resistance level within a descending channel that has constrained its price for nearly nine months. The cryptocurrency has risen 3% in the past 24 hours and 5% over the past week. Analysts suggest that a daily close above the $0.80 to $0.82 range could signal a breakout, potentially pushing the price to targets of $0.93, $1.20, $1.60, and $2.10. Support for OP is identified between $0.50 and $0.55, with the 50-day moving average at $0.628 potentially providing additional support. The Relative Strength Index (RSI) is near 60, indicating strengthening price momentum. Open Interest in OP futures has increased by 6% to $234 million, although daily futures volume has dropped by 21% to $583 million. This activity follows an 8% price surge after Upbit introduced new OP trading pairs on July 28.