The Optimism (OP) token is currently trading at severely oversold levels, with an RSI of 19.15 indicating potential for a technical bounce. According to recent analysis from blockchain.news, the short-term target for OP is $0.13-$0.14 within one week, while the medium-term forecast suggests a range of $0.16-$0.18 within one month.
The bullish scenario centers on the extreme oversold conditions creating a technical bounce opportunity. Initial resistance at $0.13 represents the first hurdle, followed by the crucial $0.16-$0.18 zone where multiple technical levels converge.