Breaking Down #OP/USDT Technical AnalysisTechnical Analysis of #OP/USDT:
At present, #OP is trading at $2.87, and it has been the highest gainer coin in this bear market. In the last bull market, its price had hit the bottom at $0.63 in October and had received the low of $0.86 in December. However, currently, #OP has hit its all-time high at $3.29, which is approximately 400% up from its bottom area.
However, as per the chart, there is a triangle forming in the higher timeframe (HTF) at the top of the chart, which indicates that some retracement can be expected from here. Additionally, in the lower timeframe, a head and shoulders pattern is forming at the top, which is a bearish sign.
Therefore, it is important to keep an eye on the following points: If the #OP price breaks the $3.29 level, then we can expect to see a new all-time high. However, the most critical support level is $2.40, which is the neckline support of the head and shoulders pattern. If this level breaks down, there is a high chance that the price will hit $1.69, which is 0.5 Fib Retracement, and a 40% drop from the current level.
In summary, the levels to watch are as follows:
Support: $2.40/$1.69/$1.37
Resistance: $3.29
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OPUSDT trade ideas
OP/USDT Possible scenarios?? Hey, guys ✌️
OP/USDT is the first pair of the day. Currently pushing towards breaking that upper zone of triangle formation OP has been performing great those last couple of weeks. If OP can keep up with this volume there is a good chance for a breakout and new ATH, if not then back to lower side of that formation!
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Optimism 22423Is Optimism ready to fly? It has a fractal like structure of an Early, first few years, Bitcoin. The only thing that confuses me is the Fully Diluted Value as price seems fair where it is atm. However, We could get a big move up that would be easy profit taking. It's current valuation with circulating supply is undervalued. Play this one as aggressive profit taking mostly and keep a bag long term.
🔥 OP Retesting All-Time Highs: Patience Is KeyOP has seen incredible returns in January. February, on the other hand, has been quite the letdown.
However, OP has seen some strong gains over the last few days. Currently, OP is retesting the all-time high around $3.22.
I'm going to wait for OP to break out. If OP can see a significant break out in the near future we might see a new bullish trend start for the remainder of crypto as well.
Targets in blue.
OPUSDTBreakout of Symmetrical Triangle Pattern strong candle following with another green candle (which is yet to close) on 4h chart. Let's see if existing candle forms above the previous close or not . If so, we can see OPUSDT hitting 3.22 again or can go further above within next 3-4 days . 🤘💯
Let's wait n watch
HIGHER TARGETS EXPECTED FOR OP?Hello Traders & Investors!
I wanted to take a look at OP, as per dreamland_cyber's request
Thank you for submitting this request! :))
OP had been consolidating within a symmetrical triangle, for almost a month.
We were able to deduce a valid consolidation as volume was getting lower and lower as OP made its way to the apex.
Finally testing the 0.786 FE level as support before breaking out with very high volume to the upside!
My target for OP would be the 1.0 Fib extension level of 3.5733
OPUSDT MOONHello friends.
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Everything on the chart.(update)
long... long ...long.
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