OP BULLISH MOMENTUAS we can see OP coin finish its previous wave it is now preparing for a huge pump - this is one of the good coin to buy since it has a good market cycle
OPUSDT trade ideas
Strong selling pressureA descending wedge has formed in the short-term timeframe, indicating strong selling pressure. This pattern suggests that the price is currently experiencing downward momentum but may eventually break out to the upside. The price might move from the identified supply zones towards $1.65 to $1.7.
OP Mid TermWe are expecting a rise from the green zone.
You can try a SPOT or 2-5X long position.
Take your risk, make some profit !
OPUSDT is approaching the daily trendHey Traders, in today's trading session we are monitoring OPUSDT for a buying opportunity around 1.620 zone, OPUSDT is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.620 support and resistance area.
Trade safe, Joe.
Optimism - 6$ by end of septemberSo as I said in my previous analysis I am pretty confident that we see OP at 6$ later this year. ETH should be trading around 10k by then. Got a solid long below 1.8$, so feeling comfy in this position :) No stops for me, I won't give away this entry.
Stay safe!
OP/TETHERUS Falling KnifeOutperformed by 61% of the top 100 crypto assets in 1 year
Outperformed by ETH and SOL
Only 14 green days in the last 30 days (47%)
Less than 5% of the total supply is in circulation
Optimism Token (OP) Surge Sparks Investor Frenzy: Key Drivers Behind the Rising Interest
n Q1 2024, Optimism showcased robust network metrics, leading to a 9% increase in the value of its OP token.
“Optimism remains a dominant player within the Ethereum ecosystem,” according to COINOTAG FINANCE.
Despite the fee reductions, Optimism’s on-chain profit rose by 14% to $2 million in Q1 2024. The network’s Total Locked Value (TVL) increased by 18% to $1.2 billion, though it dropped to 11th place in the TVL ranking. The DeFi sector, which accounts for 86% of active addresses, led this growth. Notably, protocols like Synthetix, Aave, and Velodrome also showed significant increases in TVL.
Key Insights for Investors
Optimism’s network activity and transaction volume are on the rise. The average transaction fee has decreased, increasing user engagement. Despite market fluctuations, OP token value has shown short-term gains. The DeFi sector continues to drive TVL growth on the Optimism network. Stablecoin market cap on Optimism surged significantly, led by USDT and USDC.
Despite Optimism’s solid performance in Q1 2024, its OP token did not sustain its peak price. After reaching an all-time high of $4.84 in March, it fell to a yearly low of $1.80. However, recent bullish trends in the broader cryptocurrency market have positively affected the OP coin. With a 9% price increase in the last 24 hours and a 3% rise over the past week, OP is currently trading at $2.56. CoinGecko data also indicates a 19% increase in trading volume, reaching $290 million in the last 48 hours.
OPUSDT - To be or not to be?
We are in the shopping zone although there is still room to fall a little more.
It is possible that it will begin to lateralize at these levels and if it maintains this support, we will see it in the clouds again
SL 1.55
TP 4.6
It is important to monitor the RSI at different times to enter on time.
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Estamos en zona de compras aunque todavía tiene margen para caer un poco más.
Es posible que comience a laterizar en estos niveles y si mantiene este soporte, lo volveremos a ver por las nubes
SL 1.55
TP 4.6
Es importante vigilar el RSI en diferentes temporalidades para entrar a tiempo.
Long idea on OPok, I need to describe the damn thing, I came in, I just believe in the high season now (I will duplicate the description in coins that I will take)
opIn the short term, it has a resistance. If it passes, it should be checked. But my opinion is to buy at the lower and blue points.
OP Long Scalping The immediate resistance level is around 1.8458, near the 200-period SMA
Price should retest the broken line 1.84 is good area to take profit in the golden zone area
We will short it later to 1.75 based on TA
OP Going Down The chart indicates a clear break of structure (BOS) around the $1.85 level. This BOS is significant as it suggests a potential shift from an uptrend to a downtrend
Price reach Supply zone and went dow, price excepted to reach around 1.75$
OPUSD 1WOP ~ Updated
#OP Our purchase was fulfilled. Because the market is not good. we will again place the last purchase on this support block. if the worst happens.
There is potential for an upward movementThe trend is completely bearish, with the price continuing to drop. There is a descending trendline that OP has been moving below, having hit and dropped from it twice. It looks poised to break this trendline and start a new upward trend.
The scenario involves breaking this trendline; if it breaks and retests, there is potential for an upward movement.
OPUSDTBINANCE:OPUSDT
as we see there was an Uptrend in 5 waves,After that, it made head and shoulders and started to descend forming five waves also .
Now we have completed the fourth correct wave and we will break the bottom of the third wave.
After breaking the bottom of the third wave, the fifth wave will be completed.
and then we will start to rise
$OP #Optimism Trading IdeaOP/USD (Optimism) preparing to start a rally towards $10.00? It formed a potential falling wedge pattern. Full send after a breakout. The whole market structure on a 1-2D timeframe is inside an ascending channel.
#OP/USDT#OP
The price is moving in a bearish channel on a 4-hour frame and is holding it strongly and is about to break it upward
We have a bounce from the green support area at 1.65
We have a tendency to stabilize above the Moving Average 100
We have a downtrend on the RSI indicator that is about to break higher and supports the rise
Entry price is 1.85
First goal 2.12
The second goal is 2.35
The third goal is 2.60
$OP (Optimism) Bullish Dragon with SFPDaily swing failure confirmed on the daily here, potentially marking the second bottom. So far we are bullishly engulfing, showing follow thru after the bullish Hammer yesterday.
We still have a full day before it closes, but that would be a real good look here for OP.
If the low is sustained here, this would give you the beginning stages of a bullish dragon. You would expect to see a return to the range high to confirm the double bottom, which would be your sign of strength.
Targets would be at the 618, the 1.618 extension of this last move down and the measured move of the double bottom.
We would need bitcoin to cooperate here for alts to do well off these lows, but the trades are there for sure.
OP Parallel Channel Bounce For Huge GainsOP has been trading inside this bullish channel for around 2 years at this point. With OP (and the majority of alts) falling over the last few weeks patient bulls are again in luck.
I'm looking at a relatively safe trade from the bottom support, with a stop below the previous long-term swing low. Target at 7$.
Op scalping trade #scalpI am currently considering a quick trade on Op Coin. My entry point is based on the RSI divergence and price movement. That's the main reason for my decision.
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.
#OP/USDT is heading toward the Diagonal Trendline in 4-Hour TF!#OP/USDT is heading toward the Diagonal Trendline in 4-Hour TF!
Wait for BO/retest to long $OP. The local resistance level PML of $2.27 needs to be reclaimed as a support level to turn bullish.
OP - Update before CPIThis is an update to our previous post:
Op still holding our orange trendline. We can also see OP's RSI on the 3D is at a historic bounce zone. Therefore, watch for momentum to increase back to the upside to confirm a bottom or a breakdown below that level.
