Optimism
OP/USDT Downward Momentum ??? Optimism Today AnalysisHello Paradisers, spotlight on this token!
💎 OP bounced after touching the Bullish OB zone and managed to close above the support trendline of its bearish flag.
💎There's potential for OP to rise, possibly to test the supply zone, before a subsequent decline. The anticipated downward movement might lead OP to revisit the previous wick area, which is closely aligned with a robust demand zone. This area could witness significant buying activity if OP reaches it.
💎For those considering short positions, the supply zones between 1.52 - 1.6 could be ideal, with a stop loss set above the recent high. It's worth noting that on 28th August, there's a token unlock event for OP. Historically, prices tend to rise leading up to such events, only to experience a drop on an actual day.
💎This makes it highly plausible for OP to touch the accumulation buy zone post-unlock.
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
Resistance Ahead | Chance to ShortChart 3D TF
BINANCE:OPUSDT is in the Ascending Channel and moving up to the resistance around 1.86x
We define confluence zone at that level by the Descending Trend Line + Key Level + Golden Ratio 0.618 Fibo Re
So I expect OP will retrace to 1.5, it's a chance for Short Order
Wait a next move
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
1.828-2.045 is the support and resistance rangehello?
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(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.
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** 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.
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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
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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
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Next period of volatility : around August 2-12Hello?
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(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.
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** 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.
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OPUSD: Channel Up to test the 2 month Resistance.OPUSD is on a stellar rise within a Channel Up that is supported by the 1D MA50 and very balanced bullish technicals on the 1D timeframe (RSI = 63.931, MACD = 0.054, ADX = 31.710). The 1D MACD shows significant upside potential and we will take this opportunity to buy and target the LH trendline (TP = 1.8000).
The Resistance Zone is between R1 (1.87500) and the 1D MA200. If the price closes over the 1D MA200 we will buy the breakout and target the 0.786 Fibonacci level, just under R2 (TP = 2.79500).
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OPUSDT Long idea"After a 70% drop, the price has entered an important area. It is an area with high liquidity, which is important both psychologically and technically. It is also the $1 region, which is also the 0.786 Fibonacci support level. The importance of this area can be understood from the duration of past price interactions and the number of touches it has experienced. The 0.786 Fibonacci support level can be considered one of the most significant support points for reversing the market trend, according to many analysts. However, the loss of this support can lead to further price decline. But don't forget that we also have a static resistance line and a trend resistance line, both placed at $1.20. Personally, I want to enter a long position at the green box because I know that if this move begins, we will have a major pump ahead."
⚠️"Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help."
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.
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(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.
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** 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.
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good luck