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OPUSDT

Optimism (OP) Analysis: Testing Critical Support Amid Market Vol🔍Optimism (OP) is facing crucial levels in a volatile market. Here's an in-depth analysis to guide your trading decisions. 📆Coin of the Day: Optimism (OP) About the Project: Optimism is a layer-2 scaling solution for Ethereum, designed to enhance its throughput and reduce transaction costs. OP is the native token used within the Optimism ecosystem for governance and staking. 🧩Technical Analysis 4-Hour Timeframe This analysis focuses on shorter-term trends, identifying critical levels and potential scenarios. 📉Support and Resistance: Key Supports: 2.056 1.858 Key Resistances: 2.276 2.982 📈Bullish Scenario: Fibonacci Retracement: After stabilizing around the 0.786 Fibonacci level, OP shows potential for a bullish reversal if it can reclaim the 2.276 resistance level. Critical Support: Holding above the 2.056 level is crucial for maintaining bullish momentum. If OP can break and hold above 2.276, it could target higher resistance levels, including 2.982. 📉Bearish Scenario: Break Below Key Support: If OP fails to hold above 2.056, it could signal a bearish continuation. Targets: The next support level to watch is at 1.858. A break below this level could lead to further downside. 📊Volume and RSI: Volume Analysis: Recent trading volume has been low, which might hinder a strong move upward. An increase in volume is needed to confirm any bullish breakout. RSI Analysis: Current RSI: 33.72, indicating that OP is in the oversold territory. This could suggest a potential buying opportunity if other indicators align. 💡Fibonacci Extensions: Fibonacci extensions are used to forecast potential support and resistance levels by extending beyond the standard Fibonacci retracement levels. For OP, key Fibonacci extension levels to watch include 2.276 and 2.982. These levels provide insight into where price could move next, with 2.276 being a crucial level for potential bullish continuation and 2.982 as a higher target if momentum sustains. 👨‍💻Trading Positions Long Position Entry Trigger: Break and hold above 2.276 with confirmation from RSI and volume. Strategy: Open a position on the hold of this level, targeting higher resistance levels. Use tight stop-loss orders to manage risk. Short Position Entry Trigger: Break and retest below 2.056. Strategy: Open a position if the price confirms a break below this level, targeting 1.858. Adjust stop-loss orders accordingly. 📝Optimism (OP) is testing critical support levels amid broader market volatility. Traders should closely monitor key levels and Fibonacci extensions for potential entries and exits. Volume and RSI trends will provide additional insights into momentum shifts. 🧠💼Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
by itsparham96
1
OP/USDT upward momentum descending resistance breakout?👀🚀💎 Paradisers! Keep your eyes on #OPUSDT as it's showing promising signs of a bullish continuation from the demand zone. 💎 After careful observation of the price action, we’ve noted that $Optimism is on the verge of breaking through descending resistance. If it successfully breaches this resistance and maintains momentum above the EMA 100, there’s a high likelihood that the price will make a strong bullish move upward. 💎 It’s also important to consider the alternative scenario: if NASDAQ:OP fails to break the descending resistance and begins to drop, we might anticipate a bullish rebound from a lower key support zone. However, breaking below this could invalidate the bullish setup and lead to further declines in price. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise
Potential Long Setup on OPWe've identified a promising long setup on OP with several strong confluences: 1. **Sweep of MDay-Low Range**: The price has swept the MDay-Low range, moving right into the Fair Value Gap (FVG) and Demand zone. 2. **Bullish Market Structure**: The market remains bullish as long as the demand holds. 3. **Range Low Within Demand**: The range low is situated inside the demand zone. 4. **Multiple FVGs Above**: Various FVGs on different time frames are positioned between $2.83 and $2.97. We anticipate these levels will be taken out in the future, though the timing is uncertain. Additionally, we have lost the trendline and retested it perfectly, which should provide sufficient momentum to the downside, allowing us to get filled here. We have set the stop loss a bit wider than usual to account for a potential dip below the demand zone to capture the resting liquidity there. All these factors combined provide enough momentum and security to validate this setup as a high-probability trade.
Long
by stromm_by_wmc
1
OP/USDT Break Alert! It shows will retesting before continue UP!💎 Paradisers, #OP is indeed a coin worth monitoring closely. 💎 It's currently poised for a potential retest of the LTF demand zone around $2.47 after encountering resistance at the OB- area around $3.04. Notably, the chart already indicates a breakout from the descending channel, which is a positive sign. 💎 If OP successfully bounces from the LTF demand area, it could signal upward movement, contingent upon breaking through the OB- area to reach our next target strong resistance zone. 💎 However, if OP fails to bounce from the demand zone and breaks below it, we might see continued downward movement with a retracement to the support area. The last time OP reached the support area around $2, it exhibited significant bouncing and recovery, suggesting a similar pattern could unfold if it revisits this level. 💎 The bullish invalidation would be confirmed if OP fails to bounce at the support and the daily candle closes below the $1.86 support area. In such a scenario, the price would revert to a bearish trend and continue downward. MyCryptoParadise iFeel the success🌴
by MyCryptoParadise_Nathan
3
OPTIMISM (OP)Optimism (OP) is a layer-2 scaling solution for Ethereum that focuses on enhancing transaction speeds and reducing costs through Optimistic Rollups. This method offers a significant boost in throughput and efficiency for developers building on Ethereum, making it a critical player in the blockchain scalability arena. Given the continued importance of scalability for Ethereum and Optimism's effective technology, the next price targets for OP might realistically be set at $3.20, $4.00, and $7.00. Traders considering this bullish context may wish to engage now. This trading suggestion is based on Optimism's robust role in expanding Ethereum's capabilities and the general bullish trend in demand for layer-2 solutions.
Long
by icordkaz
Trading Ideas Results for March-AprilThis year I started sharing my analytical reviews and trading ideas since mid-March. I like using TradingView because here you can't edit or delete a published idea. Everything that has been published can be found and verified, which is not always possible on other platforms, for example, in Telegram channels where the administrator can adjust the statistics. It's time to summarize the interim results of trading ideas from mid-March to April 30. In this review, I will only consider short-term ideas on the daily and hourly timeframes. Medium-term ideas on the weekly and daily timeframes will be analyzed in a separate review. There were 4 short-term ideas. All of them are on the chart attached to this post. One for buying and three for selling. The results are also visible on the chart, and they are 100%, all targets were achieved. You can find more details about the ideas by following the links below (see related ideas). But was everything so good? Unfortunately, no, if we look more closely at how the price moved in each idea. For AVAX, the selling time was chosen perfectly. Without any drawdown (2%), the price reached the target: +29%. For ETH, I waited for the price to return to the range of 3200-3400 for buying, the drawdown after buying reached up to 3%, and the achieved target was +12%. For SOL, the idea was to sell, and the drawdown on the trade reached up to half of the target (4%), but then the target was achieved with a gain of +11%. For ORDI, a less favorable moment was chosen for selling compared to other ideas, resulting in a drawdown of 23%, which is comparable to the achieved final target of +24%. It is worth noting that ORDI's market capitalization is 15 times smaller than AVAX's. Could this be the difference? What is an acceptable drawdown percentage for you before the idea works out? Share your thoughts in the comments. By the way, as part of the educational article on March 31, I made a short-term forecast for OPUSDT. Interestingly, it also worked out. Without any drawdown, the target was achieved: +29%. I will publish the interim results of medium-term ideas in a separate review.
by AlexeyWolf
📈Analyzing OP: Fundamentals and Technical Outlook💎🔍Today, we delve into the analysis of Optimism (OP) coin, a leading project in Ethereum Layer 2 solutions. Being one of the earliest and most reputable Layer 2 solutions, Optimism has garnered significant attention, particularly from DeFi enthusiasts, due to its substantially lower transaction fees compared to Ethereum. This has allowed users with limited capital to participate in DeFi and reap profits, further boosting its popularity within the crypto community. 📰Fundamentally, Optimism has demonstrated its potential with a daily trading volume of $500 million across 38 markets. Now, let's shift our focus to the technical aspects. Nearly a year since its listing on Binance, Optimism reached its all-time high (ATH) of $4.865 in early 2024. Presently, after a corrective phase, it has found support around $1.8 and currently resides at approximately $2.77. The next significant resistance lies at $2.943, with expectations high for its eventual breach. 📈The weekly timeframe indicates an upward trend, despite a recent selloff candlestick accompanied by significant volume, suggesting the possibility of further upward movement if green volumes begin to increase. However, persistent selling volumes and the SMA25 acting as resistance, particularly aligning with the $2.943 level, present a formidable barrier that could impede price action. 🛒In the event of further correction, a buying opportunity may arise in the range of $1.97 to $2.3, but it's advisable to exercise patience and wait for candlestick confirmation before entering the market. Subsequently, lower timeframes such as the daily can provide additional confirmation for our buy signal. ✅Our initial target is set at the ATH, with further targets to be identified upon consolidation above this level, utilizing Fibonacci extensions to pinpoint higher targets and resistances. Regarding the RSI, maintaining support at 41.7 is crucial to avoid potential heavy bearish pressure on the coin. 📝In conclusion, Optimism (OP) coin presents a compelling opportunity for traders, supported by both fundamental strengths and promising technical indicators. Traders are advised to exercise caution, await confirmation signals, and implement effective risk management strategies to navigate the market successfully.
Long
by itsparham96
Optimism OP price has been moving in its own "special way"Today, NASDAQ:OP #Optimism has attracted attention because it is not falling in line with CRYPTOCAP:BTC and other altcoins. In fact, for the past two weeks, the #OPUSDT price has been moving in its own "special way". Perhaps there is already some fundamental news ready for this price movement, do you know anything? Share in the comments. The critical level below is $2.30. If buyers hold on, then theoretically, the OP price could start to rise dynamically. Up to $3.40, or maybe even $4.40, or maybe even higher) Let's wait and see) _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
OP(Optimism) price action analysisSimilar scenario that the market has experienced Example 1 💰DOT (spring-summer 2021) Accumulation ➡️ Distribution ➡️ 67% dump ➡️ 360% pump 💰OP (spring-summer 2024) Accumulation ➡️Distribution ➡️64% dump ➡️ projecting DOT scenario to OP Here we saw 3 waves of decline and the last one was the most painful and fearful for the crowd. After that we had great pump This scenario can be applied to many altcoins, not just OP.
Long
by razumcapital