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OP / TetherUS

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OPUSDT trade ideas

Optimism another Matic in the making?Optimism is one of those altcoins that I have been carefully watching for a while along with TWT that has recently broken out of a triangle. OP chart very much reminds me of Matic before breaking the triangle after almost 650 days of consolidation; so I decided to share my thoughts hoping we all make some money if it follows the footsteps of Matic. - Usually when the coins are first released we see a strong move up or in some cases down(if the market decides price is too high at the time of ICO) followed by a period of consolidation. This consolidation sometimes forms a triangle that if broken will take off like a rocket. - Major 1st wave together with 2nd wave followed by the minor 1st and 2nd waves of the major 3rd wave form a triangle that may take months if not years to complete. Take a look at XRP and Matic; It took XRP much longer to break out of the consolidation triangle while it took Matic roughly 650 days to take off. Recently TWT broke out after almost 650 days that is vey similar to Matic and will probably skyrocket. - The following analysis is based on the assumption that OP mimics Matic. - OP is about to break out of an already formed triangle (the green line and channel lower-line). - At the time of publishing this idea OP has already consolidated for almost 200 days that if compared with Matic it seems we have to wait more even after breaking the already formed triangle - Therefore I assume after breaking above the green line, OP has to deal with the red line to form a larger triangle before a major move to the upside. - Unlike Matic that started with a strong move up, OP started with a strong move down after initial release; so the market decided the ATH price at the time of ICO is the end of major wave (I) . - The orange rectangles are the targets derived from confluence zones of Fib-retracement and Fib-extension. Approximately the targets are $3.7, $21 and $70 - I can imagine the price action unfold according to the yellow path which depicts the 5 minor waves of the major 3rd wave. - I am expecting OP to complete major 3rd wave by touching the channel upper-line twice. - The channel is drawn in a way that its median line passes through top of the major wave (I); Similar to that of Matic where the median line passes through top of major wave (I) and its major 3rd wave touches top of the channel. The channel lower line is obviously based on price action.
by mahyarkj
1
longing to flyThis currency is placed in a support range and the possibility of a growth up to the resistance range is not far from expected. In the daily time, a corner pattern has been formed for this currency, but it has not yet been completed. If it is completed, we can have a safe entry. The support and resistance ranges for this currency are clear in the chart. For friends who are risk takers, we have considered a long position that they can enter into the transaction accordingly.
Long
by karaco2022
2
Optimistic OPHi mates, Sharing an trade idea for OPUSDT as we can see after getting a bounce from support now facing resistance for retracement, so i want to go for a long side retracement trade if it will break resistance and close above targets shared on chart. Traget are based on resistances. One can use own time frame (smaller) for closing or activation of this trade for tracking this idea. This is not and trade or investment advice. This idea is meant for learning only. Best Regards happy trading- Amit
Long
by AMIT-RAJAN
9
SasanSeifi 💁‍♂ OP ⏩ 1.70$ / 1.90$In the medium term, the expectation we can have is that the price may be able to grow towards the range of 1.70 to 1.90. 📈🚀The important support ranges are at 1.40 and 1.30. 🟢 Keep in mind that these are just scenarios, and it's important to conduct your own analysis and consider other factors before making any trading decisions 😊📈📉 ❌ (DYOR) ⭕Of course, if you have any more inquiries or require further clarification, don't hesitate to reach out. I'm here to assist you! 🔹If you found this analysis helpful, please show your support by liking and commenting. Thank you! 🚀😊 🙌
Long
by SasanSeifi
OP: Falling Wedge BreakoutTrade setup : Bullish breakout from Falling Wedge pattern, which was confirmed with break above $1.50 resistance and 200-day moving average, and signals a bullish trend reversal to an Uptrend. Price could revisit $1.80 resistance next. This Layer-2 protocol has benefited from the launch of Worldcoin (WLD) and Base layer-2 network, which are based on Optimism protocol. Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Trend : Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis. Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening. 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
Long
by altFINS