Brief Analysis ——OPAfter the FUD of SEC, as representatives of Optimistic-Rollup, OP and ARB rebounded stronger than many other tokens. In the second half of the year, ETH will usher in an important upgrade, Dencun, which will reduce the transaction fee of L2, which is beneficial to OP and ARB. And it is likely that other L2-tokens will appear in the second half of the year, making Layer 2 a new focus. Today we bring the brief analysis of OP, ARB and GMX.
After investors unlocked OP tokens, the selling pressure increased, making it difficult for the price to go up. But on the other hand, the joint launch of BASE with Coinbase will also boost the OP ecosystem.
After the FUD of SEC, OP first rose and then slowly fell. Price pimped again last Thursday, approaching the highs in late June. Although it is neutral at a large level, every time the price is close to or below 1.2, the bulls strengthened. You can find it from the length of the green candles and the significantly high trading volume. In the near term, the price did not break out the previous high and the green candle has an upward pin-bar on Friday. It's very long. Bulls decayed. But the bears haven’t increased, with a downward pin-bar on the candle on Sunday.
Conclusion: The high probability rise has not ended. According to huge volume and disappearing shorts, we make this conclusion. The bulls will maintain the price at this position, waiting for the launch of the next attack. We set resistance level at 1.65 and support level at 1.18.
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Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
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