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OPUSDT.P trade ideas
Optimism Daily TF Elliot WaveIt looks like OP is on its way to Wave 5 of Wave 1 of Wave 3.
It would be a good opportunity to trade this and exit at Wave 5 then wait till the cycle ends before longing again (Wave 2 of Wave 3).
opusdt 1D (It is still moving on the trend line)Hello friends, I hope you are doing well, you can see the OP chart in the daily time frame. If the support zone is maintained, it can grow well in the medium term
Opusdt trading opportunityThe OPUSDT trading pair is currently navigating within an ascending channel formation, indicative of a bullish scenario.
We have identified and established a proximal buy back zone, which is anticipated to be advantageous for initiating long positions. It is our assessment that this level will maintain its relevance over the short to medium term.
Additionally, we have delineated a price objective for the final setup. We invite you to share your perspectives on this chart and kindly remind you to express your support by liking our analysis.
Thank you.
$OP #Optimism Trading IdeaOP Optimism formed a potential double-top pattern after a second rejection at the same level as the previous one. Breaking down through this neckline can indicate a potential movement to the downside. Also, the volume is decreasing.
#TOBTC #LQR #OP these important support are painted on chart
in next correction Wave you may have a plan for those spot
DYOR !
Alikze → #OP | Pullback to broken resistance In time h1, after the failure of the resistance, which has now turned into support, and in dealing with the dynamic trigger, which has had a positive reaction several times and caused the price to grow. Now it is approaching the dynamic trigger as well as the support area. Therefore, if the current area encounters a reversal candle, it will have the ability to grow to the next supply and resistance area.
In addition, if the range of the green box is broken, at least correction up to 3.50 can be imagined.
If the behavior and structure of the currency changes, the post will be updated.
🟩Sup: 3.70
⛳️Tp 3.90
⛳️ Tp2 :3.95
⛳️ Tp3 : 4.10
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OP/USDT Keep an eye on the Bullish OB! Price will bounce and UP.💎 OP has recently demonstrated notable market dynamics. After a perfect bounce from the demand area, the price faced rejection in the vicinity of an all-time high.
💎 Currently, the price is positioned to move downward towards the Bullish Order Block (OB) area for retesting, potentially creating new momentum for an upward movement.
💎 If OP successfully bounces from the Bullish OB area, the price can resume its upward trajectory and break the current pattern, Probability facilitating an easy movement toward our target area.
💎 However, if OP fails to bounce upon retesting the Bullish OB area and breaks below it, it could signify a bearish development. This scenario would lead to continued downward movement, with the next significant support level being the demand area.
💎 The demand area holds crucial significance, as it has historically acted as a pivotal zone for price reversals. If OP fails to bounce from this area, it would confirm a shift back to bearish sentiment, potentially resulting in further downward movement.
OP usdfailed to breakout and now the trend is reversing current market situation is not optimal for shorting alts but the lil bit of cool down is expected , OP could revisit monday open before the breakout
BullishA great scalp position, given that we are in a strong uptrend and corrective wave analysis we can expect to return to the green zone.
OP- 🌈 Buying this Dip with Optimism (and incentives!)🚀Amidst today's Crypto dip, I'm diversifying my portfolio with a strategic move into Optimism (OP). Here's the lowdown:
📈 Volume Surge: Optimism's recent token incentives led to a jaw-dropping 23-fold surge in trading volume. That's not just noise; it's a liquidity bonanza.
🌿 Sustainable Growth: Optimism isn't just another flash in the pan. They're in it for the long haul, funding public goods and focusing on ecosystem longevity.
🛠️ Technical Robustness: As a robust Ethereum L2 solution, Optimism offers scalability and cost-efficiency, perfectly aligning with Ethereum's long-term vision.
🎯 Why Now?: Given these strong fundamentals, Optimism is a compelling investment, especially when the market's down. It's not just about quick gains; it's about backing a protocol with a solid future.
🔮 Future Outlook: If you recall how well MATIC performed for us a few months back, Optimism has similar potential.
🚀 Ethereum Synergy: Don't overlook the impact of Ethereum's upcoming Merge EIP-4844. It could be the rocket fuel that sends OP to $4.44. EIP-4844 Analysis:
📈Chart:
Massive Channel, on support= LONG with SL just below it 💙😎 LFG!
My Targets are 2.4 and 3.5$.
One Love,
The FXPROFESSOR 💙
#Optimism #InvestmentStrategy #CryptoMarket 💎
$OPUSDT $OP Optimism (MARKET CAP $3.54B)BINANCE:OPUSDT CRYPTOCAP:OP Optimism (MARKET CAP $3.54B)
Long term Target PT $1,448 and higher Timeline: Jan 2025
Long term Target PT $4,180 and higher Timeline: May 2028
About Optimism (OP)
OP is the token for the Optimism Collective that governs the Optimism L2 blockchain. The Optimism Collective is a large-scale experiment in digital democratic governance, built to drive rapid and sustainable growth of a decentralized ecosystem, and stewarded by the newly formed Optimism Foundation. OP governs upgrades to the protocol and network parameters, and creates an ongoing system of incentives for projects and users in the Optimism ecosystem. 5.4% of the total token supply will be distributed to projects on Optimism over the next six months via governance. If you're building something in the Ethereum ecosystem, you can consider applying for the grant.
#OPUSDT 1DBINANCE:OPUSDT 1D
#OP(OPTIMISM) is currently trading at 3.731 and undergoing corrective moves on the daily timeframe.
Nothing new for #OP! The price range of $3.570 to $3.972 has always acted as a strong zone of RESISTANCE for #OPUSDT.
Since December 2023 the price has tried multiple times to break above $4 so far has failed to do so.
However, things might shape POSITIVELY for #OP as we can see multiple M.A. supporting the price, and we must not forget about the TOKEN unlock that's supposed to happen by FEBRUARY end which can also acts as a double edged sword.
SO SHORT TERM BEARISH! LONG TERM BULLISH!
But Things might also change depending on the overall market movement!
DYOR (DO YOUR OWN RESEARCH)
Hit 🔥 if you guys want more pairs analysis.
#OPUSDT #crypto #marketpdates #thesoumyoroyanalysis
OP is one of the strongest coin, new all time high, buy now?OP looks absolutely strong. It hit a new all-time high recently, and the continuation of the rally is highly likely. The previous ATH from 2023 has been broken by the bulls, and now we are in the phase of price discovery. 500% profit is likely, but you can aim for more if you want. My profit target is the 1.618 FIB extension, which is always a strong resistance, especially in the crypto market. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
Optimism (OP) is a layer-two blockchain on top of Ethereum. Optimism benefits from the security of the Ethereum mainnet and helps scale the Ethereum ecosystem by using optimistic rollups. That means transactions are trustlessly recorded on Optimism but ultimately secured on Ethereum.
Optimism is one of the biggest scaling solutions for Ethereum with over $500 million in TVL. It is home to 97 protocols, the biggest being Synthetix (SNX), a derivatives exchange, Uniswap (UNI), a DEX, and Velodrome (VELO), an AMM. Users can begin their journey on Optimism by adding the chain on their Metamask and bridging tokens like ETH to the L2. On May 31, 2022, Optimism conducted a highly anticipated airdrop of its OP token. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
OPUSDT ShortPrice went down showing a broken structure on a momentum candle. Wait for a confirmation candle on the retest zone before taking a short on OP.
OPUSDTHi guys
The resistance area on the time form of the day is not yet fully consumed, look carefully!
As long as the price range of $6,763 is maintained, a downward trend similar to the scenario is very likely.
What do you think?
OpUSDT SHORTOp has been in an upward trend for some time now and holding the resistance level above for now. But now the upward momentum and volume is dwindling and a small dump is imminent, so I'm keeping my eyes on price action, and riding the level down to the 3.25 level for tp
OP : Potential Downtrend ReversalThe observed pattern on the weekly chart indicates a recurring scenario where the market forms significant highs (key peaks), followed by a fake breakout above these highs before initiating a reversal to the downside. This occurrence has happened twice before, and there are indications that a similar situation may be unfolding for the third time. The suggested strategy is to consider a short position, with the optimal entry point being a retest of the ascending trendline.
🔄 Repeating Pattern:
The market has demonstrated a consistent pattern of forming key highs on the weekly timeframe, only to experience a fake breakout above these highs. Subsequently, a reversal to the downside ensues. This pattern has repeated twice, suggesting a potential third occurrence.
📈 Current Situation:
The current market situation aligns with the observed pattern, indicating the possibility of a third fake breakout leading to a subsequent downtrend. This pattern suggests that market participants may be repeating similar behavior seen in the previous instances.
📉 Potential Downtrend Entry Strategy:
Given the historical pattern, the suggested trading strategy involves considering a short position. The optimal entry point for this strategy is on the retest of the ascending trendline. This point may serve as a critical juncture for initiating a short position, anticipating a continuation of the downtrend.
💡 Risk Management and Caution:
While historical patterns can provide valuable insights, it's essential to approach trading with caution. Implementing effective risk management strategies, including setting stop-loss orders, is crucial to navigate potential market volatility and unexpected movements.
🔮 Future Outlook:
The technical analysis indicates a potential repetition of a pattern where the market forms key highs, experiences a fake breakout, and subsequently undergoes a downtrend reversal. Traders should closely monitor the market's behavior, especially during a retest of the ascending trendline, to gauge the potential for a short position. The cryptocurrency market's dynamic nature emphasizes the importance of adaptability and risk management in trading decisions.
#OPIn time h1, after exiting the density and stabilizing in the specified range, you can enter a buy position with a stop below the area for a short-term upward path. Therefore, according to the recent reform, it will have the ability to grow up to its previous supply area.
OP Bearish Flag You don't have to believe me, just trust yourself. My setup is enough. On the chart we can see that it has descended from its peak and formed a short-term uptrend, forming a bear pattern. flag combined with above There is supply pushing the price down but you can wait for a breakout from the 10 LINE before entering a position and a reversal from the candlestick or a divergence signal will be confirmed. To be more precise, don't thank me for lying.
OP reversalAfter hitting that 2.618 fib level, op started to retrace and is showing bullish signals.
It broke prior resistance at 3.28, a safe entry would be if the daily closes above that indicating a safe entry for a long position. Where we can see a new ATH for OP!
OPUSDT.1DBased on the provided market data, the OP cryptocurrency is currently priced at 3.23 USDT. The Relative Strength Index (RSI) for 4 hours, 1 day and 7 days are 67.67, 53.33, and 63.93 respectively. The RSI values indicate that the currency is neither oversold nor overbought, but the 4-hour RSI is on the higher side which indicates a bullish trend.
The Moving Average Convergence Divergence (MACD) for 4 hours, 1 day, and 7 days are 0.057, -0.048 and 0.450 respectively. The positive MACD for 4 hours and 7 days suggests bullish momentum, while the negative MACD for 1 day indicates a bearish trend.
The Bollinger Bands (Bb) for 4 hours, 1 day, and 7 days are 3.288, 3.272, and 4.012 respectively. The price is currently below the upper band for all the three periods suggesting a potential pullback or a period of lower volatility.
The support levels for 4 hours, 1 day, and 7 days are 3.072, 2.841, and 2.33 respectively, while the resistance levels are 3.396, 3.611, and 4.288 respectively. The price is currently closer to the resistance levels, indicating a possible upward trend if it breaks the resistance.
In conclusion, the technical analysis indicates a mixed trend with bullish tendencies in the short term (4 hours) and long term (7 days), but a bearish trend in the intermediate term (1 day). As an investor, it's crucial to keep an eye on these changing trends and adjust your strategy accordingly. Lastly, remember that investing in cryptocurrencies always come with risks, so it's important to only invest what you can afford to lose.
