Optimism Slides 22% as Base Moves Away from OP Stack, More Losses Ahead?

• Optimism fell over 22% after Base moved away from OP Stack.

• Heavy selling and liquidations pushed short-term losses and bearish momentum.

• Analysts warn OP could drop below $0.10 without strong support at $0.20.

Optimism — OP, has been under pressure after a sharp drop in price. The altcoin fell more than 23% in just 24 hours, far exceeding the broader market’s 2% decline. The main trigger came from Base moving away from the OP Stack, raising questions about Optimism’s future role as an Ethereum layer 2 solution. Technical breakdowns and heavy selling volume have added fuel to the downside, signaling that more losses could be on the horizon.

🚨 NEW: Base is transitioning off the OP Stack to its own unified stack, but will continue working with Optimism for mission-critical support during the transition. pic.twitter.com/FNEqyCJFcc

— Cointelegraph (@Cointelegraph) February 18, 2026

Why is Optimism Falling?

The shift by Base has had a direct impact on Optimism. Base plans to consolidate its network operations, which means a significant chunk of transaction activity will leave Optimism. This move removes one of the biggest contributors to OP Stack revenue, creating immediate financial pressure. The market reacted swiftly, with sell volume spiking over 157%, amounting to about $187 million in trades—the largest volume OP has seen in February.

Futures flows also show that more than $7.5 million in capital left exchanges, representing a 19% loss within 12 hours. Spot traders deposited $14.73 million onto exchanges, likely to sell, while some buyers withdrew $13.29 million from exchanges. The net effect for spot trading was a modest $1.45 million in OP, suggesting heavy selling pressure balanced by selective buying.

The decline accelerated further as $1.28 million in long positions were liquidated, compared to only $80,000 in shorts. These liquidations added downward momentum, reinforcing the bearish trend. The combined effect of fundamental and technical factors has created strong selling pressure and uncertainty for OP holders.

Could More Losses Be Coming?

Optimism has been falling steadily since the start of the year. The altcoin invalidated an inverted heads-and-shoulders pattern, which had previously signaled a potential bullish breakout. That failure allowed the bearish trend to dominate, pushing OP further down. So far this year, the token has lost about 60% of its value, with sellers regaining control as Bull Bear Power bars show increasing momentum on the downside.

Market structure analysis highlights a series of new lows without revisiting the order block levels that initially triggered declines. This pattern indicates a strong bear trend, suggesting that OP could fall below $0.10 if selling continues. The token’s next significant level to watch is $0.20. If it can hold above this point as support, it may halt the decline and offer a chance for a rebound. However, with the reversal pattern invalidated, bullish sentiment is weak, making near-term recovery unlikely.

Investors and traders should remain cautious. Heavy selling, technical breakdowns, and fundamental shifts all point to sustained downward pressure. Monitoring the $0.20 support and tracking trading volumes will be essential to gauge whether Optimism can stabilize or faces further losses in the coming weeks.