Meritz Securities MOU and buyback coincide as Optimism price holds above key support

Traders Union
All News
Crypto
Optimism up 5.91% today at $0.1326

Highlights

Meritz Securities has agreed with the Optimism Foundation to introduce tokenized asset issuance and trading on the OP Mainnet, formalizing institutional involvement.
Optimism has executed a buyback totaling over 9.4 million OP tokens, and a large wallet acquired 3 million tokens worth about $3.855 million.
OP/USD trades with strong bullish momentum, robust indicator support, and a high probability of moving within the $0.1131 to $0.1383 range over the next few days.

Institutional partnership and buyback drive demand and supply shift

Meritz Securities has entered into a memorandum of understanding with the Optimism Foundation to collaborate on issuing, settling, and trading tokenized financial assets on the OP Mainnet, according to Sedaily. This partnership formalizes institutional participation in the Optimism ecosystem and is likely to drive new demand for the network’s infrastructure. In addition, Optimism’s approved buyback program has completed purchases totaling more than 9.4 million OP tokens, which reduces circulating supply and strengthens price support, as reported by Tokenpost. A large wallet’s recent accumulation of 3 million OP tokens valued at approximately $3.855 million further signals private investor interest in the token.

Strong buy signals as OP breaks technical resistance levels

On the technical chart, OP trades above the MA-20 ($0.1305) and MA-50 ($0.1272) on the hourly timeframe, and well above the longer-term MA-200 ($0.1123) on the daily chart. The Ichimoku Kijun level at $0.1296 stands as immediate support, while the most recent daily high aligns as near-term resistance. MACD signals a Strong Buy, ADX gives a Buy call, and both CCI and Bull/Bear Power support upward momentum, while RSI reads at 60. Stochastic RSI and the Awesome Oscillator are neutral, reflecting a potential for sideways movement or a short pause.

Consolidation likely as volatility surrounds breakout risk

Over the next two to three trading days, the projected price range for OP is $0.1131 to $0.1383, in line with the current volatility band relative to recent levels. The baseline scenario sees consolidation within this range unless a break above near-term resistance occurs, which could trigger further bullish momentum. Should price drop below the Ichimoku Kijun support, the outlook may shift towards increased short-term downside risk.

Anton Kharitonov, expert at Traders Union, sees institutional partnerships and recent buybacks providing key support for Optimism (OP) in the short term. Technicals point to strength above moving averages, but several momentum indicators turn neutral, suggesting caution. Base case remains sideways consolidation within $0.1131 to $0.1383 unless resistance is decisively broken. "While recent developments attract attention, I remain defensive and would await a clear breakout above resistance before considering a bullish stance."

In a recent review, analysts highlighted a shift toward bullish momentum for Optimism, driven by reduced token supply and notable accumulation. The current article builds on this outlook by noting new institutional developments and technical strength, with traders advised to monitor the Ichimoku Kijun level at $0.1296 as a key support for near-term price action.

Source of Data: OP Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.