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Optimism

TradeCityPro | OPUSDT Starting the Week with a Drop?👋 Welcome to TradeCityPro Channel! Let's prepare our charts during the last hours of the weekend. It’s possible we might see some movement in the coming week, which could likely be bearish. Scroll Down to Check Out the Analytical Chart as Well! 🌐 Overview Bitcoin As always, before starting our analysis, let’s check Bitcoin on the 1-hour timeframe. Even during this holiday, Bitcoin is still just ranging with no significant events, which makes sense as a new structure is needed. I have a feeling that the upcoming week might be red. However, I suspect this short-term bearish wave will turn out to be a fakeout, leading to a reversal back upwards. This is just one scenario, though. Personally, I might open a long position after breaking the $95,323 level, depending on Bitcoin's dominance conditions. 🕵️‍♂️ Previous Analysis In our previous OP analysis, we highlighted our spot trigger, which was after breaking $2.688. However, it was never activated. This, along with the engulfing candle, caused us to stay in the range box, fluctuating within the same zone. 📊 Weekly Timeframe In the weekly timeframe, there isn’t much need for further analysis, as our previous one still holds. However, the weekly candle closing tonight might indicate a continuation of the rejection trend and a move toward the $1.338 support. The decline in volume clearly shows that no one is trading in this market at the moment. 📈 Daily Timeframe In the daily timeframe, we’re also in a daily range box. Currently, after being rejected at $2.681 and triggering the double top with the $2.161 support break, we moved a distance equivalent to a 1:1 risk-to-reward ratio for the double top pattern. Right now, after a heavy rejection at $2.161—which was somewhat a pullback—we are at the $1.749 support. Previously, this level was the daily range box resistance, but it has now shifted and turned into support. Regarding this shift in support and resistance, let me explain a chart detail. Look at the area labeled as "old support" on the chart. This was our previous resistance, but now it has shifted to $2.681, our new resistance. This is because the future (or the right side of the chart) shows two rejections from this area, making it more significant for us. Meanwhile, the $1.749 support aligns with the 0.618 Fibonacci level when measured from the start of the wave, which holds significant importance in Fibonacci analysis. After breaking this level, we could see a move down to the $1.335 support. If you’re holding this coin, it’s recommended to cash out temporarily below $1.335 and look for reentry points in the future. After breaking $1.749, a short position could also be opened. 📝 Final Thoughts Stay calm, trade wisely, and let's capture the market's best opportunities! This analysis reflects our opinions and is not financial advice. Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
by tradecitypro
8
Can #OP Bulls Defend this Key Levels or Not? Key Levels to WatchYello, Paradisers! Will #OPUSDT finally break free or are we about to see a deeper pullback? Let’s analyze the current #Optimism setup: 💎#OP is currently forming an ascending broadening wedge pattern, which often signals indecision but can result in a strong breakout or breakdown. The price is approaching a key resistance zone at $2.191, a level it must break decisively for bullish momentum to continue. 💎A confirmed daily close above this resistance would open the door for a rally toward the major resistance area between $2.800 and $3.000, where significant selling pressure could emerge. For this move to sustain, watch for strong volume and momentum to validate the breakout. 💎On the downside, #OPUSD is leaning heavily on the ascending support near $1.791, with a broader support zone sitting between $1.584 and $1.300. This area has proven to be a reliable base during recent declines, providing the liquidity needed for buyers to defend the trend. 💎However, if NASDAQ:OP closes a daily candle below $1.300, the bullish structure will break down, likely leading to a deeper retracement toward $1.000 or lower levels, signaling a shift in market sentiment. Stay focused, patient, and disciplined, Paradisers🥂 MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise
OPtimism At Its Best!📌Fundamental: - Optimism (OP) is a Layer 2 scaling solution for Ethereum that enhances transaction speed and reduces costs through several distinctive features: - Optimistic Rollups: Processes transactions off-chain and submits them to Ethereum in batches, increasing throughput and lowering fees. USE THE BITCOIN - EVM Compatibility: Fully compatible with the Ethereum Virtual Machine, allowing developers to deploy existing Ethereum smart contracts with minimal modifications. USE THE BITCOIN 📌Technical: OP rejected the lower bound of the rising broadening wedge pattern. I am expecting a movement towards the upper bound of the wedge, targeting the $6 round number. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
4
VELODROME Binance / Coinbase probable ScenarioAn expected drop from ATH for VELODROME after Binance listing was highly expected. While some claim it may drop further, the TA shows too many bullish pointers that should push the price at least till 0.28, with a possible retest in the 0.25-0.26 area. I will personally make a risk and go long. If the price drops below the 0.225 area without a significant bounce back, we should expect a further drop till around the 0.2 area. Velodrome is the most used DEX on Optimism and share the same team with the Aerodrome project, the most used DEX on BASE. Since AERO had a very nice uptrend since it's listing on Binance (Futures) with a steady 2$ area and a 1.4B Market Cap, along with the positive updates on Optimism, it is in my opinion safe to assume that Velodrome can reach at least half of Aerodrome's Market Cap, which would mean an easy 3x from today's price of 0.24$. Not financial advice, INVEST ONLY WHAT YOU ARE READY TO LOSE. For more TA, boost this posting and reach out.
COINBASE:VELOUSDLong
by MnomMnomTA
Arbitrum and Optimism are becoming very interesting.According to previous cycles, when Bitcoin dominance peaks, Ethereum rises. Arguably, we are there, or about to be, and that made me focus on its ecosystem. Two of its most known layers 2 are Optimism and Arbitrum, and I want to bring to your attention their charts against BTC. Optimism is breaking out of a descending wedge, and its target is about 5200 sats, which is in fact a previous support/resistance. Volume is confirming the breakout, and we got a narrative on ETH. Arbitrum is also breaking out of the same figure, whose target is about 1200 sats. Volume is increasing lately as well. I'm already posicioned, but in case there is a retracement I'd ancourage you to take a closer look to an entry.
Long
by JeSuns-
Optimism is determined to conquer the heights! $OPEverything here is beautiful! From technical analysis to blockchain analysis. I can see us moving in a parallel channel, where when combined with fibonacci we come to the 1.618 level right to the upper limits of this price channel. I would expect a value low in the area of $3.5 per coin with the most positive scenario expecting $7.1 per coin. I see the presence of a number of prominent Market Makers in the blockchain, but I don't like the contingent that holds this asset. Perhaps over time people will become disillusioned with the L2 range and sell their coins to a Marketmaker. Thus setting the stage for a hands free flight! Best wishes, Horban brothers!
Long
by horbanbrothers
Optimisim Swing Long Idea - OP COIN LONGPrice has run the monthly liquidity, creating upward momentum and breaking the weekly bearish trend. Recently, we broke the bearish trendline that had been driving the bearish movement since Spring 2024. The price closed above the trendline, retested it, and then rejected strongly. Currently, the price is moving impulsively upward as ETH gains bullish momentum. I’ll be looking to open long positions within the weekly demand zone marked on the chart. I don’t expect another retest of the trendline, as we’ve already retested it and seen a solid rejection. I’ll seek LTF confirmations before engaging with the price. Stop-loss: Daily close below $1.27 Target 1: $3.04 Target 2: $4.05
Long
by UA_CAPITAL
4
OP / UsdtBINANCE:OPUSDT NASDAQ:OP / USDT: Clean bullish breakout on the daily chart! 📈 We've seen a bullish breakout that suggests strong upward momentum. Now, I'm waiting for the retest of the breakout area before considering an entry. This is a classic move that often provides a great buying opportunity for those who are patient! ⏳ I believe there’s a solid chance for a long position around the $1.980 - $1.950 support zone. This area has shown strong support in the past and could be the perfect spot for entering a trade. 💣 Once we see a confirmation of the retest and a potential bounce off this level, it could be go time! 🚦 Looking higher, the upper key resistance zone is around $2.650 - $2.700. This will be a critical zone to watch, as a breakout above this could signal an even stronger rally. 🚀 Pump potential: I’m eyeing a potential +/- 30% move if the breakout continues to play out as expected! 📈💥 See you in a few days! Let’s keep an eye on how the price behaves around those key levels! 👀 Remember, this is not financial advice. 🙅‍♂️📊 Always do your own research before making any trading decisions.
Long
by Wolftrader1337
2