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OP

Brief Analysis——OPThe Dencun upgrade will be officially launched next spring. It will further expand the capacity of ETH and L2 by implementing the improvement recommendations called EIP-4844. After adoption, Ethereum Layer 2’s gas costs will be greatly reduced and scalability improved. In this bull market, SOL has regained its reputation as the killer of Ethereum with its ultra-high user experience and ultra-low gas fees. But after Dencun, Optimism and Arbitrum will significantly reduce gas fees, and the advantage of Solan will be reduced. Today we take a look at L2’s representative, Optimism. Since last weekend, ETH and L2 tokens have risen sharply. The market is starting to price Dencun. We have conducted fundamental analysis on many block chains, mainly MC/FDV, MC/TVL and 24h Volume/MC. Among them, Solana’s values are 0.76, 34.55, 0.0174, respectively, while OP is 8.43 ,171.65,0.0010. These data reflect that OP's market value is undervalued compared to on-chain activities, and compared to SOL, it is more suitable for investment. Of course, we also know that L2 tokens lack utility support for paying gas fees. But for blockchain, Decentralization, Security, and Scability are still the core. Within Layer 2, there are also different categories based on ZK-Rollup and Optimistic Rollup. are in a competitive relationship with each other. Optimism launched OP Stack this year to extend its business scope to B-side users. Enables project to easily build their own Layer 2 networks. OP Stack has attracted many large entities, such as Coinbase, Binance, etc., and many established Layer 1 have also begun to consider the feasibility of expanding to Layer 2 through OP Stack. Judging from the disclosed cooperation content, the partner will provide funds to Optimism and maintain the support of OP token. Having said so much about fundamentals, let’s look at OP’s performance on technical aspects and indicators. We use the green range to mark the main gains of OP in this bull market. It can be seen very clearly on the WTA indicator that during these two round of rises, there were so many blue bars representing whales. And after the first green range, there were no destructive candles and the price resumed rising after a few days of correction, which was good for the bulls. The current bullish trend is healthy. Judging from the ME indicator, OP also maintains a bullish trend, and the purple wavy area shows signs of expansion. Switching to the 4h level, yesterday's rise is still supported by whales. Although whales also participated in the trading during the subsequent callback, the magnitude of the callback has only been -6.71% so far, and there has been no destructive candle. There is a high probability that this round of rise will not end. Likewise, the ME indicator shows the continuation of the bullish trend. To sum up, OP is a token with relatively good fundamentals and a clear development line of route map. The current valuation is at a low level and is suitable for value investment. From a technical perspective, there is a high probability that this round of rising prices will continue. 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. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Long
by Sypool
OP/USDT Poised for Bullish Movement from Key Support? 👀 🚀💎Paradisers, direct your attention to OPUSDT as it showcases a noteworthy pattern in the market. After a recent rejection from its resistance level, there's a heightened probability of a bullish movement originating from a previous resistance level, now acting as support. 💎Historically, #OPTIMISM has demonstrated a tendency to follow a descending trendline, breaking above it to initiate an upward trajectory. It successfully surpassed the first resistance (R1) at $1.894 but faced resistance at a higher level (R2) at $2.241. Currently, NASDAQ:OP is hinting at a revisit to R1, which has transitioned into a support zone. At this juncture, there's a strong potential for a bullish move aiming to breach R2. 💎 However, in the ever-evolving crypto market, #OP traders should be prepared for a range of outcomes. If the expected bullish ascent encounters challenges, shifting focus to a recovery strategy from the support level of $1.612 becomes vital. 💎 Significantly, a decline below this support level would necessitate a strategic shift. This scenario would call for a reevaluation of the bullish stance and an adjustment of trading strategies to better suit the emerging market trends. 🌴💰
Long
by MyCryptoParadise
Ethereum's Merge EIP-4844 can Boost OP to 4.44$Is good to have like minded cool friends and Cryptonite Clark is exactly that to me. ''Professor, Just reading about Ethereum's next merge, EIP-4844, that's happening later in the year. The main beneficiaries are Layer 2s (www.coingecko.com), as it will reduce the cost of rollups, which they rely on. There's likely to be a "Layer 2 narrative" leading up to it, and ETH will probably recover lost ground against BTC. ARB and OP are top picks.'' I did my research and he is absolutely right. Then again I do prefer OP vs ARB so here we go with an updated OP chart: Price is behaving nicely and a breakout over 1.60$ is my expectation for next. From there it's destination 2.33 which offers a nice trade with excellent R/R since risk (SL) is over 1.3 and reward (TP) lies alomost 4 times higher. Then again there is the ALTs possibility for Bullish scenario which can get the price to 4.44$: One Love, the FXPROFESSOR Awesome OP news: Coinbase's Base to adhere to Optimism's open neutrality framework Link: www.theblock.co
BINANCE:OPUSDLong
by FX_Professor
6
Coins that are expanding the coin ecosystemHello traders! If you "Follow" us, you can always get new information quickly. Please also click “Boost”. Have a good day. ------------------------------------- The altcoins that I am thinking of that are expanding the coin ecosystem are as follows. BNB, XRP, ADA, SOL, DOT, TRX, AVAX, MATIC, NEAR, ATOM, ALGO, KLAY, FTM, LINK, OP, WEMIX Since BTC and ETH are long-term investment coins, it is always best to have a large amount of them. BNB Coin is also a mid-term investment coin, but it has the disadvantage of being an exchange coin, so I think it is difficult to be a long-term investment coin like BTC and ETH. Therefore, please refer to the information explained below. Coins (tokens) that are expanding the coin ecosystem can be traded in the mid- to long-term in the direction of increasing the number of coins (tokens) corresponding to profits, if possible. In particular, I think that XRP, ADA, TRX, KLAY, OP, and WEMIX coins should focus on increasing the number of coins for profit. The reason is that each coin contains definite drawbacks. (OPUSDT chart) The key is whether the price can be maintained by rising above 2.289. (1D chart) To do so, the key is whether it can rise above the 2.125-2.176 range. If not, and it falls, you should check for support around 1.926. -------------------------------------------------- - The big picture The full-fledged upward trend is expected to begin when the price rises above 29K. This is the section expected to be touched in the next bull market, 81K-95K. -------------------------------------------------- ------------------------------------------- ** All explanations are for reference only and do not guarantee profit or loss in investment. ** Trading volume is displayed as a candle body based on 10EMA. How to display (in order from darkest to darkest) More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA ** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own. ** This chart was created using my know-how. ---------------------------------
by readCrypto
OP (Optimism): Surging High in the Ethereum Layer-2 ArenaHello Crypto Enthusiasts! 👋 The FXProfessor here, spotlighting the impressive surge of OP, Optimism's native token. Let's dive into the factors driving this remarkable growth and its potential impact on the Ethereum ecosystem. Recent Price Surge: 🚀 OP experienced a jaw-dropping 25% rise in just 24 hours, reaching a high of $2.13, marking its highest trading level for the year (u.today). 📊 This surge is part of a broader 40% monthly upswing, fueled by a series of ecosystem updates and enhancements in Optimism's technology stack (u.today). Kraken's Influence: 💹 Kraken's introduction of Tether (USDT) deposits and withdrawals on Optimism played a significant role in propelling OP to an 8-month high of $2.188, signaling a market confidence boost (nulltx.com). 🌉 This development enhances the utility and accessibility of the Optimism network, promoting wider adoption and improved decentralized transaction capabilities (nulltx.com). Optimism's Technological Advancements: 🛠️ As a Layer-2 scaling solution for Ethereum, Optimism leverages optimistic rollups technology to enhance transaction throughput and reduce fees on the Ethereum mainnet (nulltx.com). ✅ The recent governance vote passed the first post-Bedrock network upgrade, "Canyon," reflecting Optimism's commitment to continuous improvement and innovation (u.today). 🌍 OP token holders enjoy the privilege of participating in protocol decisions, shaping the future of this growing ecosystem (nulltx.com). FXProfessor's Insight: 🌐 Optimism's strategic advancements and community-driven approach showcase its potential to revolutionize Layer-2 scaling solutions on Ethereum. 🔍 The sustained growth and recent surge in OP's value reflect the positive sentiment and trust in Optimism's capabilities and future prospects. Trade with foresight, embrace technological advancements, and let's witness the evolution of Optimism in the Ethereum Layer-2 space! One Love, The FXProfessor 💙 Links: nulltx.com u.today
BINANCE:OPUSDLong
by FX_Professor
1
OP/USDT It required break the pattern to continue Upward!💎 OP has unquestionably captured significant market attention. Presently, OP is contending with the resistance trendline of the descending channel, necessitating a breakthrough to sustain its upward trajectory. The preceding upward movement in OP, following the breakout from the supply area and subsequent retesting phase, exemplifies its impressive performance. However, a failure to breach the descending channel in the near future could prompt a downward movement for OP, retracing to test the demand area at $1.51. 💎 Conversely, if OP successfully breaks out of the pattern without the need for retesting, a notable upward movement is anticipated. This could probability facilitate an effortless reach to our target supply area. 💎 should OP, during the retesting phase at the demand area, falter in maintaining its position and breach the demand zone, a confirmed downward momentum is likely. Consequently, OP could retreat to the subsequent lower demand area and even descend to a robust support zone.
by MyCryptoParadise
OP/USDT: Waiting for breakoutBINANCE:OPUSDT has broken out of its major resistance and is currently waiting for another resistance breakout. We can expect this breakout to happen within the next 2-6 days. 📈 This breakout is crucial for our LONG trade entry. Our trade setup is planned for a LONG entry after a confirmed breakout. Entry Price: 2.0 - 2.1 StopLoss: 1.7 Target Prices: TP1: 2.25 TP2: 2.5 TP3: 2.8 TP4: 3.2 Wait for our confirmation before entering the trade. Please like and share your thoughts in the comments. It keeps us motivated to share more trade ideas. Cheers, GreenCrypto 🌿🌿🌿
Long
by GreenCryptoTrades
longing to flyThis currency is placed in a support range and the possibility of a growth up to the resistance range is not far from expected. In the daily time, a corner pattern has been formed for this currency, but it has not yet been completed. If it is completed, we can have a safe entry. The support and resistance ranges for this currency are clear in the chart. For friends who are risk takers, we have considered a long position that they can enter into the transaction accordingly.
Long
by karaco2022
2
OP: Falling Wedge BreakoutTrade setup : Bullish breakout from Falling Wedge pattern, which was confirmed with break above $1.50 resistance and 200-day moving average, and signals a bullish trend reversal to an Uptrend. Price could revisit $1.80 resistance next. This Layer-2 protocol has benefited from the launch of Worldcoin (WLD) and Base layer-2 network, which are based on Optimism protocol. Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Trend : Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis. Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening. Support and Resistance : Nearest Support Zone is $1.20, then $0.90. The nearest Resistance Zone is $1.50, which it broke, then $1.80
Long
by altFINS
The key is whether it can rise beyond the box range of 1.231-1.4Hello? Hello traders! If you "Follow" us, you can always get new information quickly. Please also click “Boost”. Have a good day. ------------------------------------- (OPUSDT chart) The volume profile section is formed in the range 0.919-1.129. Therefore, if the price is maintained above the 0.919-1.129 range, it is expected to continue its upward trend. (1D chart) It shows sideways movements in the range of 1.111-1.68. Accordingly, the key is which direction to deviate from this section. It is necessary to check whether the price can be maintained by rising above the 1.231-1.4 section, which is the currently formed box section, above the M-Signal indicator of the 1M chart and above the rising trend line. If it falls below 1.310, there is a possibility that it may fall to around 1.111, so you need to think about a response plan. -------------------------------------------------- - The big picture The full-fledged upward trend is expected to begin when the price rises above 29K. This is the section expected to be touched in the next bull market, 81K-95K. -------------------------------------------------- ------------------------------------------- ** All explanations are for reference only and do not guarantee profit or loss in investment. ** Trading volume is displayed as a candle body based on 10EMA. How to display (in order from darkest to darkest) More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA ** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own. ** This chart was created using my know-how. ---------------------------------
by readCrypto