The native token of Optimism, OP, experienced a significant breakout after achieving a new all-time high of $4.87.

Following this peak, the price has begun a downward trajectory, showing signs of continued decline.

Current analyses of the cryptocurrency's trend suggest a downtrend, with the asset trading below its previous benchmarks.

This shift indicates a reversal from its recent peak performance, pointing towards a potential bearish phase for OP in the market.