OP/USDT Poised for Bullish Movement from Key Support? 👀 🚀💎Paradisers, direct your attention to OPUSDT as it showcases a noteworthy pattern in the market. After a recent rejection from its resistance level, there's a heightened probability of a bullish movement originating from a previous resistance level, now acting as support.
💎Historically, #OPTIMISM has demonstrated a tendency to follow a descending trendline, breaking above it to initiate an upward trajectory. It successfully surpassed the first resistance (R1) at $1.894 but faced resistance at a higher level (R2) at $2.241. Currently, NASDAQ:OP is hinting at a revisit to R1, which has transitioned into a support zone. At this juncture, there's a strong potential for a bullish move aiming to breach R2.
💎 However, in the ever-evolving crypto market, #OP traders should be prepared for a range of outcomes. If the expected bullish ascent encounters challenges, shifting focus to a recovery strategy from the support level of $1.612 becomes vital.
💎 Significantly, a decline below this support level would necessitate a strategic shift. This scenario would call for a reevaluation of the bullish stance and an adjustment of trading strategies to better suit the emerging market trends. 🌴💰
OPUSDT trade ideas
✴️ Optimism Rising Channel & 165% Potential TargetOptimism (OPUSDT) has been moving within a very strong rising channel, currently supported by a high reading on the RSI and rising volume.
Each time the lower boundary, the lower support or trendline of the channel gets tested and holds, a new bullish wave develops. Recently, this supportive trendline has been tested twice and continues to hold long-term.
As expected, prices are now moving higher, aiming towards the upper boundary which can produce gains equaling 165% from the current price, a target of $4.77 in the coming months.
With wisdom and patience, this pair like other Altcoins can produce a strong rise, we buy and hold.
The targets on the charts are conservative targets, by the end of the bullish wave the peak price can be higher than what we expect... Hope for the best, prepare for the worst.
Namaste.
op/usdt longT=5
A breakout is a potential trading opportunity that occurs when an asset's price moves above a resistance level or moves below a support level on increasing volume.
The first step in trading breakouts is to identify current price trend patterns along with support and resistance levels in order to plan possible entry and exit points.
Once you've acted on a breakout strategy, know when to cut your losses and re-assess the situation if the breakout sputters.
As with any technical trading strategy, don't let emotions get the better of you. Stick with your plan and know when to get in and get out.
OP after Successfull trade here is the New One**OP Coin**
**Short Fundamental**
OP Coin (OP) is a decentralized cryptocurrency launched in 2018. It is based on the Ethereum blockchain and is used to power the Open Protocol project. Open Protocol is a platform that allows developers to create and deploy decentralized applications (DApps). OP Coin is used to pay for transaction fees on the Open Protocol network.
**Recent News**
* **Open Protocol announced a partnership with Chainlink in December 2023.** Chainlink is a decentralized oracle network that provides real-world data to smart contracts. The partnership will allow Open Protocol developers to access Chainlink's data oracles to build more complex and secure DApps.
* **Open Protocol launched a new version of its SDK in December 2023.** The SDK is a set of tools that makes it easier for developers to build DApps on the Open Protocol network. The new version of the SDK includes several improvements, such as a new API for interacting with smart contracts and a new way to deploy DApps.
**Disclaimer**
This information is for informational purposes only and should not be considered investment advice. OP Coin is a high-risk investment and there is no guarantee that it will appreciate in value.
When Head Shoulders is done then Bullish | Long BiasOn 1h TF
OP closed below 2.227 that confirm to Head Shoulders Pattern with target around 1.93
But OP is supported by Ascending Trend Line so we have a good zone to buy around 2.1 first then 1.93 if OP still down more.
Wait for rejection and signal for Bullish come back
THE CYCLE BREAK OF OPTIMISMThank you for reading this update.
Depending on our study we see that UMA has a good chance of volume increase.
OPUSDT did show a great break movement, which could be the start of a new cycle.
At this moment it's important that OP need to confirm the next time frames.
#Nottradingadvice
#For Day traders take always profits when the market increase
#Expect nothing from the markets, but follow what it shows.
Coins that are expanding the coin ecosystemHello traders!
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The altcoins that I am thinking of that are expanding the coin ecosystem are as follows.
BNB, XRP, ADA, SOL, DOT, TRX, AVAX, MATIC, NEAR, ATOM, ALGO, KLAY, FTM, LINK, OP, WEMIX
Since BTC and ETH are long-term investment coins, it is always best to have a large amount of them.
BNB Coin is also a mid-term investment coin, but it has the disadvantage of being an exchange coin, so I think it is difficult to be a long-term investment coin like BTC and ETH.
Therefore, please refer to the information explained below.
Coins (tokens) that are expanding the coin ecosystem can be traded in the mid- to long-term in the direction of increasing the number of coins (tokens) corresponding to profits, if possible.
In particular, I think that XRP, ADA, TRX, KLAY, OP, and WEMIX coins should focus on increasing the number of coins for profit.
The reason is that each coin contains definite drawbacks.
(OPUSDT chart)
The key is whether the price can be maintained by rising above 2.289.
(1D chart)
To do so, the key is whether it can rise above the 2.125-2.176 range.
If not, and it falls, you should check for support around 1.926.
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- The big picture
The full-fledged upward trend is expected to begin when the price rises above 29K.
This is the section expected to be touched in the next bull market, 81K-95K.
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** All explanations are for reference only and do not guarantee profit or loss in investment.
** Trading volume is displayed as a candle body based on 10EMA.
How to display (in order from darkest to darkest)
More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA
** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own.
** This chart was created using my know-how.
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OPUSDTmy entry on this trade idea is taken from a point of interest BELOW an inducement.. I extended my stoploss area to cover for the whole swing as price can target the liquidity there before going as i anticipate.. just a trade idea, not financial advise
KIND OF TRADING AGAINST HIGHER TIMEFRAME STRUCTURE SO ALWAYS HOLD YOUR BUDDY: RISK MANAGEMENT!