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Optimism

Pointy time for $OP [Optimism]Honestly, I like patterns. I like this one for Optimism with its converging trend-lines and a palpable tension about a break to the upside/downside, most likely in the next 10 to 14 days. It being a market it is always unclear, and not possible to predict prices despite all the fancy tools. MORE: The year has seen OP break out from it's low during the bear market in 21-22 and then follow a regression path for the last few months between HKEX:2 and $3. Most of the time it moves between a support level around $2.15 - $2.30 and a resistance zone between $2.5 and $2.7. The trend lines, wherever you start, between the declining high's and the rising lows all converge at some point in May. So it's all very exciting if you like that sort of thing. If you "clean-up" (ignore) the 'extra low' data point that occurs at the collapse of silvergate, silicon bank and signature. It's really neat and predictable. Especially for longer periods. I am in a long position based on the RSI (which indicates a break out to the upside) and other technicals. There are plenty of supporters of a flat-bottomed regression like this (a right-angled triangle that fell over) being a strong sign of a positive / bullish upturn. The flat bottom indicating very strong support. There are no major break points to the downside, everyone seems to feel bullish about the market in general etc And they predict a rise of anywhere >100%. I am hesitant, like all sane investors. There are also excellent analyses available that expect the reverse - that the longer EMA's (exponential moving averages) will cross and the token will move to the downside, possibly as far as $1.6 before moving upwards. All of these are indicated on the chart with a variance in the bullish trends marked as the typical angle (green) and a more contested rise (teal). Time will tell.
Long
by toklas_boo
1
Is Optimisim Ready For Another Run?Layer two block chain projects have recently enjoyed a major increase in value as real world business are looking to make use of the many benifits available through block chain ledger technology. As a layer two network optimism is primed to assist in actual real world use cases for crypto by providing the security offered by ethereum but allowing for extremely fast transactions. Currently Optimism seems to be reaching a point where time and price have reached balance signaling a pivot in price is imminent. Markets can go up, down or simply continue sideways. Given the bullish momentum and recent partnerships with layer two projects will it be enough to push this next cycle to the upside? Price is currently retesting the golden pocket fibbonacci retracement level on the local low. This is also comming in extremely close to the. 786 retracement for this entire top range. If price continues to maintain this bullish momentum and corresponding to these fibonacci price movements a significant move to the upside may be on the horizon. When trading crypto assets please bear in mind that these are extremely volitle assets and while they have the ability to increase in value by staggering amounts they equally can decrease in value just the same.
Long
by Degen-Dynasty
Whether it can rise along the rising channel is the keyHello? Traders, welcome. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a good day. ------------------------------------- (OPUSDT chart) The HA-High indicator on the 1W chart formed at the 2.498 point. Therefore, if it fails to rise above 2.498, it may lead to further declines, so we need to think about countermeasures. However, since the MS-Signal indicator of the 1W chart is passing around 2.045, you need to check whether it is supported around the 2nd section of 1.828-2.045. The tertiary range, 0.919-1.129, is a strong support and resistance range. It is currently in a downtrend from the uptrend channel shown on the 1D chart. Therefore, I think it is becoming important whether it can rise above 2.498. -------------------------------------------------- ------------------------------------------- ** 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
3
Optimism(OP) will lose 💣at least➖12%💣of its value!!!Better to know first what is the Optmisim(OP) project. What Is Optimism (OP)❗️❓ Optimism (OP) is a layer-two blockchain on top of Ethereum. Optimism benefits from the security of the Ethereum mainnet and helps scale the Ethereum ecosystem by using optimistic rollups. That means transactions are trustlessly recorded on Optimism but ultimately secured on Ethereum. Optimism is one of the biggest scaling solutions for Ethereum with over $500 million in TVL. It is home to 97 protocols, the biggest being Synthetix (SNX), a derivatives exchange, Uniswap (UNI), a DEX, and Velodrome (VELO), an AMM. Users can begin their journey on Optimism by adding the chain on their Metamask and bridging tokens like ETH to the L2. On May 31, 2022, Optimism conducted a highly anticipated airdrop of its OP token. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Optimis lost its support line after accepting defeat from the resistance line. While losing the support line, it managed to form a descending channel, and now the lower line of this channel is also broken by the breakout candle. I expect Optimism to drop to at least the 🟢support zone($2.24-$1.99)🟢. Optimism Analyze ( OPUSDT ), 1-hour Time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
4
Optimism Weekly Reversal Signal?Is the optimism chart trying to tell us a trend reversal is on the way? Looking at a weekly bar chart we can see last week we closed our first weekly bar BELOW the low of the highest bar in the recent uptrend. This is a classic trend reversal signal that warrants at least the setting of a stop loss at the low of the high bar and position of neutral. Does this weekly reversal signal mean price has to change. Absolutely not. It is simply an indication of trend exaustion that tyically leads to a price decline without sufficient reasoning to entice renewed bullish sentiment. An indication of continued bullish sentiment would be to push above and hold the high of the current lowest bar. This would be at $3.10. Our current position on OP is TAKE PROFIT and to set a stop loss at the low of the high bar. If stopped out consider shopping for lower prices to re-enter what has become a popular project in the cryptoverse and probably here to stay for some time. In the event OP brakes the low of the high bar on the weekly chart and manages to range re-entry above $3.10 may be in order.
by Degen-Dynasty