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OPUSDT

OPUSDT |Coin Review| Breakout of the local countertrend!Hello trader Today I prepared a new idea for you. Like and subscribe to the channel there is a lot of useful information✅ Let's analyze the OPUSDT coin from the side of technical analysis The asset is now locally in a downtrend, this can be seen from the local double line countertrend, it is also price resistance. There is a strong pursed trend line, I expect a breakdown in the short term and a removal to the 0.5 Fibonacci zone ($ 1.825)
Long
by DanilBlinkov
Optimism $OP (SHORT) Currently Overvalued Compared to Polygon Optimism, a layer 2 scalability play on Ethereum is currently trading at an $8.2B fully diluted valuation, as compared to Polygon's $9.2B valuation. While TVL (total value locked) on Optimism is soaring, it's still only $1.1B compared to Polygon's $1.7B. We're likely just seeing a rotation of money chasing DeFi opportunities in the Optimism ecosystem as there are no DeFi protocols in the Optimism ecosystem that innovate past what is already available on other L1 and L2 ecosystems. We've seen similar rotations like this before, most of which result in a large run up followed by a steep crash in token price. Lastly, only 5% of OP tokens are circulating, making the price extraordinarily sensitive and volatile, particularly to the downside as more tokens become unlocked and flood the market. Looking at two different shorting opportunities based on key margin pressure level resistance, keeping tight stop losses in case $ETH pumps on the merge narrative and the ETH ecosystem follows suit. Check out my YT channel to learn more about margin pressure levels.
Short
by SistineResearch
OPUSDT: Deep decline could start right nowPreviously I have published an idea for OPUSDT. Now, I made adjustments to the current wave count. The price successfully overcame the uptrend line, forming an impulse in the assumed wave 1. At the moment, wave 2 is being formed, in which the most highly effective trades are opened (according to trading rules by Elliott Waves). I opened a short position and plan to increase the volume of the position at breakdown of the price minimum of wave 1. The target level for taking profit now at $0.1. The risk-to-profit ratio reaches 1:8. Best Regards, CEO Tornado Capital
Short
by HurricaneCapital
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