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OP

OP UPDATE (4H)OP is forming a falling triangle from the point of view of the Neo-Wave method. The red area that I have marked is a confirmed order block that has many orders in it because it has led to a BOS. The green area is a good place to place the target. I think there is a good chance for a short position on the OP symbol. Place the stop above the red box, i.e. at the invalidation level Be sure to do capital and volume management because there is no technical certainty and the review is probable.
Short
by behdark
Bearish Trend and Critical Price LevelsOver the last month, the value of OP has been on a downward trend, indicating a bearish pattern. The support level at $1.53 didn't see an increase in buying interest. The overall market had more selling pressure, causing this support level to break. As a result, it transformed into a significant resistance point, leading to a negative response. During this period, the price reached the lower boundary of a medium-term upward channel on two occasions. The first instance resulted in a notable positive response. However, the second attempt didn't yield a strong reaction. If the price continues to drop and breaks through both the lower boundary of the channel and the $1.10 support level, the conditions for this currency will worsen. This could lead to further decline, possibly down to the support level at $0.90.
by MonoCoinSignal
6
🔥 OP Parallel Channel Bounce: Looks Quite Bullish!OP saw an incredible start of 2023. Sadly, after a huge move early in the year, OP has been selling off for most of the months after the initial pump. However, I see signs that the sell-off is done and that there's more bullishness coming soon, arguably even a new all-time high. Key component of this trade is the bottom support of the parallel channel (the top resistance is a direct copy of the support line) For the best risk-reward I'm looking at a target of 6.00, potentially 3.00 if you're more risk averse. Stop at 1.2 which is just below the recent low. In previous analyses I've mentioned that I see more bearish price action coming to BTC, so this trade could function as a hedge. OP is arguably one of the better looking alts at the moment with a lot of potential upside.
Long
by FieryTrading
10
OP: Channel UpTrade setup : Trading in a Channel Up pattern. Trends are improving. We wait for a breakout, ideally with confirmation when price breaks above $1.80 resistance and 200-day Moving Average (~$1.97). Benefiting from the launch of Worldcoin (WLD), which is based on Optimism protocol. Pattern : Price is trading in a Channel Up pattern. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Trend : Uptrend on Medium-Term basis and Downtrend on Short- and Long-Term basis. Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). Support and Resistance : Nearest Support Zone is $1.50 (previous resistance), then $1.20. The nearest Resistance Zone is $1.80, then $2.80
Long
by altFINS
1
OP: Channel DownTrade setup : Benefiting from the launch of Worldcoin (WLD), which is based on Optimism protocol. Trends are mixed but improving as the price bounced from $0.90 and broke back above a couple of key levels ($1.20, $1.50). Overall, it’s trading in a Channel Down pattern and we’re waiting for a breakout, ideally above 200-day Moving Average (~$1.95) that would confirm a trend reversal to Uptrend, with potential upside to $2.80 thereafter. Pattern : Price is trading in a Channel Down pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Trend : Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis. Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $1.50 (previous resistance), then $1.20. The nearest Resistance Zone is $1.80, then $2.80
Long
by altFINS
1.828-2.045 is the support and resistance rangehello? Traders, welcome. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a good day. ------------------------------------- (OPUSDT chart) Among the coins (tokens) that are expanding the coin ecosystem introduced previously, it is the only coin (token) that is showing an upward trend. (1M chart) Very little can be learned from the 1M charts as the charts have not yet been properly created. However, you can see that the Heikin Ashi candle has turned into a bullish sign. (1W chart) It is a matter of being able to keep the price above the MS-Signal indicator. If not, you should check if the price holds above 1.442. The 1.442 point corresponds to the HA-Low indicator point, so if you bought around this area, the first selling section is around the HA-High indicator. Therefore, the HA-High indicator is currently created at the 2.498 point, so there is a possibility of a rise up to around 2.498. However, it is likely that a new HA-High indicator will be created as the real price rises. If the HA-High indicator is newly created, the area around it corresponds to the first selling zone. (1D chart) I think there are three major sections of support and resistance. 1st: 2.498-2.932 2nd: 1.828-2.045 3rd: 0.919-1.129 Currently touching the 3rd section and ascending to the 2nd section. Therefore, if you bought in the 3rd segment, the 2nd segment corresponds to the selling segment. If not, it is possible to buy when support is confirmed in the 2nd section and sell in the 3rd section. OP belongs to the category that is expanding the coin ecosystem, but corresponds to a coin (token) that has just been created. Therefore, in order to trade over the medium term, it is necessary to increase the number of coins (tokens) corresponding to profit. You need to be careful because buying at a blind and low price and waiting unconditionally for the price to rise can tire people out. -------------------------------------------------- ------------------------------------------- ** All descriptions are for reference only and do not guarantee profit or loss in investment. ** Even if you know other people's know-how, it takes a considerable period of time to make it your own. ** This is a chart created with my know-how. ---------------------------------
by readCrypto
OP: Channel DownTrade setup : Benefiting from the launch of Worldcoin (WLD) , which is based on Optimism protocol . Trends are mixed but improving as the price bounced from $0.90 and broke back above a couple of key levels ($1.20, $1.50). Overall, it’s trading in a Channel Down pattern and we’re waiting for a breakout, ideally above 200-day Moving Average (~$1.95) that would confirm a trend reversal to Uptrend, with potential upside to $2.80 thereafter. Pattern : Price is trading in a Channel Down pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Trend : Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis. Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). 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, and $2.80
Long
by altFINS
1
Optimism OP price responds well to the work of the teamToday, let's take a look at the OPUSDT price chart Given that the previous idea worked out well with a 30% increase, we can try to "guess" again) By the way, in the previous idea, we described the main upgrade features implemented by the Optimism team. Today, the next Optimism (OP) network upgrade will take place, the main task of which will be to reduce the average transaction inclusion delay from 2-4 seconds to 0-2 seconds. Also, today we announced a "fresh indicator" U.S. CPI (YoY): 3.0% (forecast 3.1%, previous value 4.0%) So all the fundamental conditions for growth are in place, now it's up to the market) Let's assume that the next target for the OPUSDT price will be a breakout of $1.50 and continued growth to $1.75 _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
26
Spotlight on OPUSDT: Unveiling the Path to a 36% Price Increase💎 The overall #OPUSDT trend remains bearish, as the price continues to trade within a descending channel. However, there are some intriguing developments that warrant our attention. 💎 Currently, there are indications of a potential formation of a Bullish Flag pattern, which could lead to a significant price increase of 36% if it materializes. The target for this pattern aligns with the 38.2% Fibonacci retracement level and coincides with the top of the descending channel. This convergence of targets adds to the likelihood of an upside move in the future. 💎 💎 Adding further support to the probability of an upward movement, #OP has approached a significant zone characterized by previous supply and current demand. This zone often attracts buyers who are actively seeking opportunities. If the price manages to remain above the current support level, we anticipate a potential price increase ranging from 30% to 40% in the coming days. 💎 Despite these potential positive developments, the long-term bearish trend remains intact, and a breakout below the support level could reverse the scenario. Stay vigilant, Paradisers, and make informed trading decisions! Your ParadiseTeam 🌴
Long
by MyCryptoParadise
Next period of volatility : around August 2-12Hello? Traders, welcome. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a good day. ------------------------------------- (OPUSDT chart) Around 1.660, the M-Signal indicator on the 1W chart and the 150 EMA are passing. So, the question is whether it can sustain the price by moving above 1.660. Looking at the 1W chart, we can see that it is out of a downtrend. So, if the price holds above 1.442, I expect it to rise. Looking at the big picture, you can see that there are three support and resistance zones. If it rises above 1.660, you should check whether it finds support or resistance in the 1.828-2.045 area. The next period of volatility is expected to start around August 2nd. --------------------------------------------------------------------------------------------- ** All descriptions are for reference only and do not guarantee profit or loss in investment. ** Even if you know other people's know-how, it takes a considerable period of time to make it your own. ** This is a chart created with my know-how. ---------------------------------
by readCrypto
🔥 OP Weekly Support Held: New Highs On The HorizonOP saw an incredible start of 2023. Sadly, after a huge move early in the year, OP has been selling off for most of the months after the initial pump. However, I see signs that the sell-off is done and that there's more bullishness coming soon, arguably even a new all-time high. For the best risk-reward I'm looking at a target of 5.00, potentially 3.00 if you're more risk averse. Stop at 0.99, which is just below the 1.00 support area.
Long
by FieryTrading
2
Need to see support near 1.343 for short-term trend reversalHello? Traders, welcome. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a good day. ------------------------------------- (OPUSDT chart) Looking at the 1M chart, It can be seen that the 1.129 point is an important volume profile section. Looking at the 1W chart, We touched the 0.919 point, which is the volume profile section. Therefore, it is important to keep the price in the 0.919-1.129 zone or higher. I have touched all the important support and resistance sections that I have been talking about before. It touched the 0.919-1.129 section, which is the current 3rd section, and rose. In addition, since the HA-Low and HA-High indicators on the 1D chart were created below 1.343, if the price is maintained above 1.343, it is expected to rise to the 2nd interval around 1.828-2.045. Since the HA-Low indicator of the 1W chart has not yet been created, it is recommended to use the HA-Low and HA-High indicators of the 1D chart to increase the number of coins (tokens) corresponding to the profit. -------------------------------------------------- ------------------------------------------- ** All descriptions are for reference only and do not guarantee profit or loss in investment. ** Even if you know other people's know-how, it takes a considerable period of time to make it your own. ** This is a chart created with my know-how. ---------------------------------
by readCrypto
1
Optimisim possible Scenarios What's Next?!! 👀 OP today analysis💎OPUSDT is currently trading at a critical stage, with two possibilities observed. The price is consolidating after making a lower low below the triangle pattern, indicating some bearish sentiments. 💎This is further supported by the price maintaining its momentum below the Ichimoku clouds and the RSI also showing the same downward movement. 💎On the bullish side, if it breaks above this triangle pattern and the RSI signals an upward move, we could see a positive shift. 💎 In the ever-changing crypto universe, staying updated and adaptable is essential. Stay tuned for more updates and enjoy your trading journey!
by MyCryptoParadise_Simon
1
OPtimism At Its Best 😁Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. OP has been bearish trading inside the falling channel in green, and we are currently approaching the lower bound. Moreover, the zone 1.0 is a strong demand zone and round number. 🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue demand and lower green trendline. As per my trading style: As OP is sitting around the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
20
Optimism Seasonality Trade 150-200xIntroduction It seems like every year some crypto absolutely explode upwards the first 10 days or so of the year and many of them get slapped back to the ground and even end up lower than their starting points while others just seem to continually moon. Those cryptos grab a lot of attention for the whole market and they end up being one of the momentum trades for the first half of the year. As they cool off other momentum trades pick up. For some comparison I am going to compare the current state of Optimism to Matic in 2021 and then compare the bull runs of Matic to Solana. Similarities Between OP and Matic at the New Year Price really tight on multi month consolidation triangles. Accordingly, price tight to 20 period SMA The volatility stop suggest price is going to break to the upside Log MACD and Histogram action really tight around zero Most importantly, both were new coins All of these suggest that a big move is coming. I have some fib-based targets I am looking at and have already set take profits. When the Log MACD starts to show some bearish divergence, I may be closing my trade manually because my target isn't getting reached. Bearish divergence on the Log MACD on the 3-day interval is pretty powerful And, less you think I am crazy, here is the Matic fib draw. And I think the current OP formation is stronger than the Matic formation was. Comparing Matic & Solana Last Bull Run Two of the major players last bull run were Matic and Solana. Both had very big January moves (like I hope OP to have) but they behaved differently on the way up. Matic was more bullish out of the gates and went 125x very quickly over the course of just 5 months. During that same time Solana only went 40x. Now, most the times the trend is your friend until the end so you would have hoped MATIC would have had even more upside but no. It double topped. Then the relatively humble Solana went bonkers and had a total move of 200x and was able to set a higher high when MATIC was double topping. My target for OP is roughly a 170-185x from here which puts it closer for the 9 month move and not the 5 month move. If that is the case, then is it is more likely there will be a month-month consolidation like Solana had and then the majority of the move will happen. Of course, if my OP position is up 125x in a matter of 5-6 months I will be more than happy to find something else to rotate into, even if it doesn't hit my 180x target Closing thoughts There are very view going I see poised like I see OP. OP is different because it went sideways while many coins were shedding value. The top runners of 2021 are on my watch list, not my trade list. I think they still have 9-18 months to consolidate from their runs. Of course, the 2021 top runners are not new coins anymore.
MLong
by This_Guhy
23