Optimism (OP) price has become a hot topic once again as the network prepares for the major mainnet upgrade. OP crypto price started 2023 very strong as the coin rallied 250% in the first two months. However, the price had a massive pullback as the BTC price failed to break above $30,000.<\/p>\n
Currently, OP crypto is trading at $1.43, which is 56.7% below its yearly high. On Friday, the price had a bounce after days of negative price action. Till press time, the coin was up 3.24% as the BTC price broke above $27,000 once again. The latest analysis shows that Optimism may rebound very soon.<\/p>\n
OP Crypto’s Bedrock Upgrade To Go Live On June 6<\/h2>\n
According to the most recent Optimism news, the network is expected to experience a major mainnet upgrade to Bedrock on June 6, 2023. As per the team, the Bedrock upgrade will bring a 47% reduction in protocol costs and security fees to Optimism Mainnet. Optimistic price is expected to react positively to the upgrade.<\/p>\n \ud83d\udea8The official date of OP Mainnet’s upgrade to Bedrock has been set: June 6, 2023 at 16:00 UTC!<\/p>\n The upgrade will require 2-4 hours of downtime for OP Mainnet.<\/p>\n Visit Mission Control for full details on what to expect:https:\/\/t.co\/o6UjKZaVKy<\/a><\/p>\n \u2014 Optimism (\u2728\ud83d\udd34_\ud83d\udd34\u2728) (@optimismFND) May 15, 2023<\/a><\/p><\/blockquote><\/div>\n<\/figure>\n On the day of the upgrade, the transactions, deposits, and withdrawals will not be available on the Optimism network. Optimism is a layer 2 scaling solution that leverages Optimistic roll-ups to offload transactions from Ethereum. OP is the native asset of the network which can be used to pay for fees.<\/p>\n The following OP crypto chart shows that the price has broken below the key support level of $1.57. This has resulted in the formation of a bearish market structure. However, the relative strength index (RSI) and the money flow index (MFI) show bullish divergences.<\/p>\n Optimism price prediction will flip very bullish if it reclaims the $1.57 level on the daily time frame. This may trigger a retest of the $1.85 level, where the 200-day moving average lies. Such a move is likely in the coming days due to the upgrade hype.<\/p>\n I’ll keep sharing my updated outlook on Optimism crypto in my free Telegram<\/a> group, which you’re welcome to join.<\/em><\/p>\n\n
Optimism Price Loses Key Support<\/h2>\n
![\"Optimism](\"https:\/\/www.investingcube.com\/wp-content\/uploads\/2023\/06\/image-17-1024x442.png\")