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Optimism

OPTIMISM (OP)Optimism (OP) is a layer-2 scaling solution for Ethereum that focuses on enhancing transaction speeds and reducing costs through Optimistic Rollups. This method offers a significant boost in throughput and efficiency for developers building on Ethereum, making it a critical player in the blockchain scalability arena. Given the continued importance of scalability for Ethereum and Optimism's effective technology, the next price targets for OP might realistically be set at $3.20, $4.00, and $7.00. Traders considering this bullish context may wish to engage now. This trading suggestion is based on Optimism's robust role in expanding Ethereum's capabilities and the general bullish trend in demand for layer-2 solutions.
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by icordkaz
📈Analyzing OP: Fundamentals and Technical Outlook💎🔍Today, we delve into the analysis of Optimism (OP) coin, a leading project in Ethereum Layer 2 solutions. Being one of the earliest and most reputable Layer 2 solutions, Optimism has garnered significant attention, particularly from DeFi enthusiasts, due to its substantially lower transaction fees compared to Ethereum. This has allowed users with limited capital to participate in DeFi and reap profits, further boosting its popularity within the crypto community. 📰Fundamentally, Optimism has demonstrated its potential with a daily trading volume of $500 million across 38 markets. Now, let's shift our focus to the technical aspects. Nearly a year since its listing on Binance, Optimism reached its all-time high (ATH) of $4.865 in early 2024. Presently, after a corrective phase, it has found support around $1.8 and currently resides at approximately $2.77. The next significant resistance lies at $2.943, with expectations high for its eventual breach. 📈The weekly timeframe indicates an upward trend, despite a recent selloff candlestick accompanied by significant volume, suggesting the possibility of further upward movement if green volumes begin to increase. However, persistent selling volumes and the SMA25 acting as resistance, particularly aligning with the $2.943 level, present a formidable barrier that could impede price action. 🛒In the event of further correction, a buying opportunity may arise in the range of $1.97 to $2.3, but it's advisable to exercise patience and wait for candlestick confirmation before entering the market. Subsequently, lower timeframes such as the daily can provide additional confirmation for our buy signal. ✅Our initial target is set at the ATH, with further targets to be identified upon consolidation above this level, utilizing Fibonacci extensions to pinpoint higher targets and resistances. Regarding the RSI, maintaining support at 41.7 is crucial to avoid potential heavy bearish pressure on the coin. 📝In conclusion, Optimism (OP) coin presents a compelling opportunity for traders, supported by both fundamental strengths and promising technical indicators. Traders are advised to exercise caution, await confirmation signals, and implement effective risk management strategies to navigate the market successfully.
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by itsparham96
Optimism OP price has been moving in its own "special way"Today, NASDAQ:OP #Optimism has attracted attention because it is not falling in line with CRYPTOCAP:BTC and other altcoins. In fact, for the past two weeks, the #OPUSDT price has been moving in its own "special way". Perhaps there is already some fundamental news ready for this price movement, do you know anything? Share in the comments. The critical level below is $2.30. If buyers hold on, then theoretically, the OP price could start to rise dynamically. Up to $3.40, or maybe even $4.40, or maybe even higher) Let's wait and see) _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
OP(Optimism) price action analysisSimilar scenario that the market has experienced Example 1 💰DOT (spring-summer 2021) Accumulation ➡️ Distribution ➡️ 67% dump ➡️ 360% pump 💰OP (spring-summer 2024) Accumulation ➡️Distribution ➡️64% dump ➡️ projecting DOT scenario to OP Here we saw 3 waves of decline and the last one was the most painful and fearful for the crowd. After that we had great pump This scenario can be applied to many altcoins, not just OP.
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by razumcapital
The key is whether it can receive support around 2.289 and rise Hello traders! If you "Follow" us, you can always get new information quickly. Please also click “Boost”. Have a good day. ------------------------------------- (OPUSDT 1M chart) This month's decline shows that the HA-High indicator is about to be created at the 2.759 point. Accordingly, the key is whether the HA-High indicator can be supported and rise near it when it is created. It is showing a rebound after touching the Fibonacci ratio point of 0.5 (1.828). Therefore, we need to see if it can find support around 0.618 (2.045) and rise above 2.289. (1W chart) It touched the psychological volume profile section and rebounded, but failed to receive support around 2.289 and showed a downward trend. Accordingly, the key is whether it can rise above 2.289. Currently, the HA-High indicator is formed at 3.777, so it is expected that in order to switch to an upward trend, it must rise above the HA-High indicator. (1D chart) The upward trend began on November 3, 2023, when the HA-Low indicator broke above the upper box section. And, on April 7, 2024, we encountered the HA-Low indicator for the first time. It is showing a stepwise decline as it fails to receive support near the HA-Low indicator and falls. Since the volume profile section of the 1M chart is formed around 2.289, the key is whether the price can be maintained by rising above 2.289. The time to buy is when it shows support near the HA-Low indicator and rises above the MS-Signal indicator. Aggressive buying is possible when support is seen around 2.289. In order to continue the upward trend, the HA-High indicator must rise or higher. ---------------------------------------- After the HA-Low indicator is newly created, the trend changes depending on whether it receives support or resistance. I think that there is nothing special about the decline in the HA-Low indicator because the fact that the HA-Low indicator was newly created means that the downward trend has already begun. However, the creation of the HA-Low indicator means that a low point has been formed. Therefore, even if the HA-Low indicator falls, it can be said to be a meaningful movement because it is highly likely to show movement to form a bottom section. Therefore, you can proceed with a split purchase whenever you encounter the HA-Low indicator. Have a good time. thank you -------------------------------------------------- - 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. #BTCUSD 12M 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (when overshooting) 4th: 13401.28 151166.97-157451.83 (when overshooting) 5th: 178910.15 These are points that are likely to encounter resistance in the future. We need to see if we can break through these points upward. Since it is thought that a new trend can be created in the overshooting zone, you should check the movement when this zone is touched. #BTCUSD 1M If the general upward trend continues until 2025, it is expected to rise to around 57014.33 and then create a pull back pattern. 1st: 43833.05 2nd: 32992.55 -----------------
by readCrypto
OP/USDT A break the resistance, will indicating back to bullish.💎 Paradisers, it's intriguing to see the recent market dynamics of #OP. With the bounce from the demand area and now testing the resistance, the next moves are critical. 💎 If #OP manages to break above the resistance, it could signal a bullish reversal, paving the way for further upward movement, and potentially testing the strong resistance area. 💎 However, if #OP faces rejection at the resistance, it may retreat to test the demand area for renewed momentum. 💎 Bouncing from the demand area is crucial for sustaining bullish momentum. Failure to do so, resulting in a breakdown, could signify bearish sentiment, leading to further downward movement. MyCryptoParadise iFeel the success🌴
by MyCryptoParadise_Nathan
2
OP/USDT Bullish Reversal on the Horizon? 👀🚀OP Analysis💎 Paradiser, get ready for an exciting trading opportunity with #OPUSDT! The current setup suggests a bullish turnaround from its support and FVG. 💎 Reflecting on the past, $OPTIMISM faced challenges in surpassing its previous high, resulting in a bearish sentiment. However, the tides appear to be shifting. At the support level of $2.619, which has already piqued buying interest, there’s a strong chance of a bullish shift targeting the significant supply zone at $4.803. 💎 As savvy traders, we always have a Plan B. If #OP dips below our critical support at $2.619, we’re poised to capitalize on a bullish rebound from a lower support and the Bullish OB at $2.116. But exercise caution, as breaching this additional support could indicate a deeper decline. 💎 Stay adaptable in your strategies and keep a close eye on the charts, fellow Paradisers. Your ParadiseTeam is here to guide you through these market waves with expert insight.
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by MyCryptoParadise
1
Op/usdt retesting key resistance| 👀🚀OP Today analysis💎 Paradisers, check out #OPUSDT as it's on an intriguing path, currently retesting a crucial resistance that could soon become support, signaling a potential bullish jump from here. 💎 After escaping a descending channel, $Optimism is gearing up to challenge the resistance at $3.847. A successful retest and maintaining strength at this level could set the stage for a bullish surge. With continued momentum, it's eyeing an initial resistance at $4.295, aiming to break through and tackle even higher barriers. 💎 Should #OP's price fall beneath this pivotal zone, it's time for a strategic shift. We're bracing for a bullish bounce from the secondary support at $3.395. Falling short of a comeback here could spell further drops. Let's remain alert and adaptable to swiftly navigate any market changes.
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by MyCryptoParadise_Simon
$OP - 2H LTF Bearish Trend ReversalI believe we have found a local bottom for NASDAQ:OP around $2.98. I had bids set at $2.95 so bummed that those didn't fill. However, I did add to my already long position between $3.05-3.15 The market want's more I believe & Optimism is too hard to ignore. Really liking the reaction that I'm seeing out of it at the moment in current market conditions as a lot of other bigger tokens bleed off. For perspective, I longed this orginally around $4.30 & have been DCA on the pull back since. My theory is that NASDAQ:BASE is getting A LOT of attention rn from Coinbase & BASE relies on the success of Optimism. If Brian Armstrong & coinbase bros start talking about OP as a good investment... I believe the markets react HUGE. Please be safe & assume all responsibility for your own trades.
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by TheRealCryptoDaddi
Optimism To The Moon🩸 NASDAQ:OP #Optimism (OP/USDT) (March 12, 2024) (#OP, #Spot) In 2024, Optimism continues to play a significant role in the Ethereum ecosystem as a Layer 2 optimistic rollup solution, emphasizing scalability and efficiency. With a total funding amount of $178.5 million, Optimism has attracted the interest of notable investors and companies, underscoring its potential in the blockchain space​​. Optimism's growth has been fueled by strategic partnerships and upgrades, enhancing the network's appeal to developers and users alike. This focus on network efficiency and expanded utility positions Optimism for potential growth amid a broader market adoption of Layer 2 solutions. Optimism has seen a notable rise in its ecosystem, making it an attractive option for investors looking for promising cryptocurrency projects in the run-up to a potential 2024 bull market​​. Tokenomics-wise, Optimism boasts a market cap of over $1.2 billion, with a total supply of approximately 4.3 billion tokens and an inflation rate of 2%. The distribution of these tokens is strategically allocated across retroactive public goods funding, investors, core contributors, the ecosystem fund, and airdrops. This allocation strategy underlines Optimism's commitment to both its community and its technological infrastructure​​. 🕵️ Investors (Tier 1,2): a16z (Andreessen Horowitz), IDEO CoLab Ventures, Paradigm As the crypto landscape continues to evolve, Optimism's developments and its role within the Ethereum scaling solution space signify the dynamic nature of the market, offering promising avenues for both developers and investors. 🟢 Entry price: $4.38 🟢 Take Profit 1: $8.76 (50%) 🟢 Take Profit 2: $18.80 (10%) 🟢 Take Profit 3: $23.50 (10%) 🟢 Take Profit 4: $28.20 (10%) 🟢 Take Profit 5: $32.90 (10%) 🟢 Take Profit 6: $37.60 (10%)
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by UnknownUnicorn285026