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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Opusdtanalysis
OPUSDT UpdateBINANCE:OPUSDT current situation is as follows:
OP is currently in a neutral position. In my previous post, I correctly predicted a 40% growth and a 20% price drop for this currency. However, the price is now caught between strong support and resistance, and I don't want to take any trades in between.
But where and when should we enter a short or long position?
I'm waiting for one of these two scenarios to occur. Either the resistance line breaks with strength and the daily candle closes above the resistance level with a significant gap, and then I wait for a retest, or the same conditions occur for the support line.
Apart from these two scenarios, I have no intention of entering a position because I don't want to get stuck in this range, and I want to catch the larger waves.
⚠️ "Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help."
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Will the Optimism update help OPUSDT price accelerate?Last week, there was a very important update for Layer2 of the Optimism Bedrock network.
Key points of the optimization:
Commission reduction by more than 50%+.
Time for depositing funds has been reduced from 10 to ~3 minutes due to the "fee market" model, which helps to prevent DoS attacks.
Improved Node/ performance, reducing node synchronization time by 50 times.
Reduced fees make Optimism Mainnet the cheapest Ethereum L2 for token exchange.
The Optimism team is actively working on the project's development, building a very strong ecosystem, and seems to believe in the prospects of their brainchild.
But so far, all these updates have not had much of an impact on the OPUSDT price.
Looking at the chart, we can assume that the growth of the Optimism token price to a strong liquidity zone of $1.47-1.50 in the coming days is a very positive scenario.
Let's see, if the crypto market participants are interested in Optimism, to push the Op price up in the future, and the number of likes and comments under this idea will be a good "litmus test".
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OPUSDT - Buy Setup!!OPUSDT (1D Chart) Technical analysis
OPUSDT (1D Chart) Currently trading at $2.56
Buy level: Above $2.55
Stop loss: Below $2.15
TP1: $2.9
TP2: $3.25
TP3: $ 4
TP4: $ 5
Max Leverage 2x
Always keep Stop loss
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Opusdt Getting ready for breakout Opusdt
Formed Bullish Symmetrical Pattern & in 4h time frame Incase of breakout Expecting 20-40% Bullish Move
Candle : Morning dogi Star Candlestick pattern (Bullish)
Remember: These are just ideas that we share from our experience, it does not mean that they will be 100% perfect, anything can happen in the market at any time.
Always manage your risk and trade with your on research
OP ready to fly!After quite some downtrend and getting stuck in a triangle I expect the triangle to break downward which will most probably be a false breakout since it's an area of liquidity and start flying from the area that I highlighted which happens to be the entry price for the breakout signal!
NFA