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Optimism

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 OPUSDT Price analysis (Daily)Greetings, esteemed traders of the TradingView community! Today, we bring to your attention the price of OPUSDT. Since reaching its all-time high (ATH) back in February 2023, the price has experienced a significant decline of approximately 50%. However, recent price action has caught my attention as OPUSDT has started to break out from a red trendline, which has been forming since the bottoms observed in 2022. This breakout holds potential for a continuation in the price's downward trajectory. Furthermore, a triangle formation that developed between February and April of 2023. The triangle pattern was broken to the downside, and the target of this pattern aligns closely with a previous resistance zone around the range of 1.3-1.4 USD. Considering the oversold conditions indicated by both the MACD and RSI indicators, it becomes quite likely that we may witness a rebound in this aforementioned price zone. This presents an intriguing opportunity for traders to explore. Thank you for your attention and support. Feel free to explore our other articles, follow our page for more updates, and kindly share your valuable feedback on this idea. Happy trading!
by Vestinda
3
1Inch/USDT Bearish Chart Analysis #1Inch/USDT Technical Analysis Update Current Price: $0.378 The #1Inch/USDT pair has recently broken below the strong support level at $0.44, indicating a bearish trend. With the price currently below $0.44, we can anticipate further downside potential of around 20-30% from the current levels. Key Levels to Watch: Strong Support: $0.27 Resistance: $0.44/$0.53 It is crucial to monitor the $0.44 resistance level closely. If the price remains below this level, we can expect a further decline towards the $0.270 support level. Stay tuned for more updates!
Short
by CryptoPatel
2
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