Jog Hiller
September 30th, 2025 07:59
Optimism trades at $0.66 after unlocking a massive 116 million token tokens with a 6.89% increase in circular supply, then generates downward momentum despite solid interest.
what happened
Optimism (OP) traded at $0.66, down 1.60% in the last 24 hours, at $0.66, extending losses following a massive un-token event on September 21, circulating 116 million OP tokens. Unlocking has increased circulating supply by 6.89% and caused a price drop of 11.82%, but the token remains stable at current levels and remains at $150 million in strength.
detail
The September 21st Token Unlock represents one of the biggest single supply increases in optimism this year, putting a lot of sales pressure on the market. Despite concerns about dilution, trading volumes have been robust at $842 million over the last 24 hours, indicating sustained market participation. The OP price initially fell from about $0.79 to its current level, nearly $0.66, representing a marked correction, but indications of stabilization.
Market participants were anticipating an unlock event, but many positioners positioned defensively ahead of the release. The fact that the OP is held above the $0.63 support level suggests some absorption of the additional supply, but the token is under pressure from an increase in floats.
Technical response
From a technical standpoint, the OP is below all major moving averages. The 20-day SMA represents an immediate resistance of $0.74. The token is 10.5% below the SMA-20 and 6.2% below the 200-day moving average at $0.71, indicating widespread debilitating.
The RSI read of 40.6 suggests neutral momentum rather than overselling conditions, but the MACD remains bearish with a negative histogram of -0.0110. The main support levels are clustered at around $0.63, which has been held during recent sales pressures. The resistance appears to be solid from $0.86 to $0.88. This is a level that requires important purchasing momentum to revive.
What traders do
Despite unlocking the token, open interest in OP futures has remained stable at $150 million, suggesting that traders are still in position rather than surrendering. This stability in the derivatives market indicates that leveraged traders have not rushed to withdraw their positions while spot sales occur.
The OP/USDT pair has consistent volume during the integration phase, with buyers stepping near the $0.63 support zone. This price action suggests that institutional and retail participants view current levels as potentially attractive to accumulation, but careful positioning is clear.
What’s next?
The immediate outlook for the OP will depend heavily on whether a support level of $0.63 will be retained under continuous supply pressure since recent unlocks. A break below this level could potentially target the next support zone, but recovery would require a regaining resistance level of $0.74, expressed as a 20-day moving average.
Market participants may monitor signs that additional token supply is fully absorbed and provide a basis for price stabilization. The open profit level of a company suggests that a large portion of the sales may already be occurring.
Take home
Despite massive token unlocking pressure, the OP’s ability above $0.63 shows underlying demand, but traders should monitor volume patterns for signs of authentic accumulation before positioning for recovery.
For the latest OP price updates and optimistic analysis, please monitor the key support and resistance levels above.
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