Optimism OP Became Optimistic AgainHello, Skyrexians!
We continue analyze altcoins with big potential for the bull market. Couple of days ago we have already observed another one layer 2, today it's time for BINANCE:OPUSDT . Price of this crypto formed very interesting formation which can confuse most of traders. We analyzed it using the combination of Elliott waves analysis with our algorithmic indicators. Hope it will give you enough knowledge to make your own decision.
On the price chart you can see the weekly time frame. We can consider all movements as the large accumulation zone because Optimism appeared in the most severe stage of past bear market. Its first growth is more likely to be the wave 1. After that we can see almost the same formation as for Arbitrum. This is the irregular correction in the wave 2, which consists of ABC waves.
Wave C is likely to be finished. It touched the 0.61 Fibonacci retracement zone and Bullish/Bearish Reversal Bar Indicator printed the green dot. This is very high probability long setup. You can see earlier on the chart that this indicator flashed the red dot and after that we have see the huge bearish wave. We need to pay attention to its signals.
The next potential move is the global wave 3. It can happen very fast and the target for it is defined by the Fibonacci extension. This is the zone between $7.71 and $11.68. Lower band of the zone is almost 10x from the current price.
Best regards,
Skyrexio Team
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OPUSDT trade ideas
Alikze »» OP | C wave correction🔍 Technical analysis: C wave correction
- It has been moving in an upward channel in weekly and daily time.
- It is currently moving in a downward channel.
- The last upward wave was a complete cycle of 5 waves, which was able to grow to the size of 0.78 of the previous wave, which then formed a corrective structure.
- At present, the current corrective structure is a three-wave that can have two behavioral scenarios.
💎 First scenario: If the current zone cannot stabilize above the golden zone, wave C can extend to the specified PRZ zones (each of the PRZ zones can be a return zone). Therefore, if the current area is not maintained, the downward trend can continue.
💎 The second scenario: if it encounters demand in the golden zone, it can continue an upward trend in the form of a rising wave 3 or C, which at first can conquer its previous major ceiling and then continue to grow until the supply zone.
If the behavior and structure of the post changes, it will be updated.
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BINANCE:OPUSDT
op goes to $32gm,
read that title again, and let it sink in.
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optimism has been expanding extremely quickly over the last year,,,
from large players like coinbase creating base on the chain,
to a conglomerate like sony in the works of creating soneium...
this is a rapidly growing chain, and there are incredible builders creating something truly magnificent as we progress into the future.
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optimism to me personally looks really good.
there are a few ways i can label it, but this particular way is currently my favorite way, and it's is the "conservative" way.
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my conservative upside target on this project sits at $32 near the height of the upcoming alt-season.
i do predict that it will most certainly go higher after, but that'll be an extreme which will be more than worthy of selling into.
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tldr; op to $32 as alt season begins.
#OP Potential Double Bottom Structure📊#OP Potential Double Bottom Structure 🚀
🧠From a structural perspective, the ideal goals of the short structure have all been achieved, and there is an expectation of a rebound. There is an opportunity to build a bullish double bottom structure near the buy zone, which will be established after breaking through the inflection point. If this structure is established, then we have a chance to go to around 2.978.
Let's see 👀
🤜If you like my analysis, please like 💖 and share 💬
💕 Follow me so you don't miss out on any signals and analyze 💯
BITGET:OPUSDT
#OP/USDT#OP
The price is moving in a descending channel on the 1-hour frame upwards and is expected to continue.
We have a trend to stabilize above the 100 moving average again.
We have a downtrend on the RSI indicator that supports the rise by breaking it upwards.
We have a support area at the lower limit of the channel at a price of 1.57.
Entry price 1.64.
First target 1.67.
Second target 1.74.
Third target 1.80.
OP Building A Powerful Bottoming Structure MartyBoots here , I have been trading for 17 years and sharing my thoughts on OP .
OP looks great , its currently building a giant broadening wedge pattern and this looks like it should hold targeting the top range
Its getting into a very important time for these ALTs and they should start running bottoming for a move up into new year
#OP/USDT#OP
The price is moving in a descending channel on the 1-hour frame and sticking to it well
We have a bounce from the lower limit of the descending channel and we are now touching this support at a price of 1.53
We have a downtrend on the RSI indicator that is about to be broken, which supports the rise
We have a trend to stabilize above the moving average 100
Entry price 1.57
First target 1.63
Second target 1.70
Third target 1.77
Optimism (OP) Optimism is a layer two blockchain on top of Ethereum. Optimism benefits from the security of the Ethereum mainnet and helps scale the Ethereum ecosystem by using optimistic rollups. That means transactions are trustlessly recorded on Optimism but ultimately secured on Ethereum.Optimism is one of the biggest scaling solutions for Ethereum with over $300 million in TVL.
Optimism price today is $1.23 with a 24 hour trading volume of 270 million dollars, OP price is up 15% in the last 24 hours
after a little correction OP can hit 1.3 and 1.5
did you manage to buy OP at 0.8$?
OPUSDT.1Ddaily chart of OPUSDT, we are presented with a well-defined Head and Shoulders pattern, which is a classic reversal formation. This pattern, consisting of the left shoulder, head, and right shoulder, indicates a potential trend reversal from the previous uptrend, suggesting that a breakdown could occur if key levels are violated.
Pattern Analysis: The Head and Shoulders pattern is clearly visible with the left shoulder formed in early 2024, followed by a peak (the head) and the formation of the right shoulder more recently. The neckline, which is a crucial level in this formation, is aligned with S1 (0.906). This neckline level will serve as a key indicator for market participants as to whether the bearish reversal pattern will play out.
Support and Resistance Levels:
Support Levels: The primary support lies at S1 (0.906). This level is critical because it represents the neckline of the Head and Shoulders pattern. A decisive breakdown below this level would confirm the bearish reversal, likely leading to a test of the next major support at S2 (0.634). Any break below S2 could further exacerbate bearish pressure, potentially leading to prolonged downside.
Resistance Levels: On the upside, the immediate resistance is at R1 (2.053). This level represents the zone that needs to be reclaimed for any short-term bullish momentum to develop. A break above R1 would invalidate the Head and Shoulders pattern and suggest a return to bullish conditions, possibly targeting the previous highs at 4.865 over the longer term.
Stochastic RSI: The Stochastic RSI is currently in the overbought zone, suggesting that upward momentum may be losing steam. This could serve as an early warning that the price is likely to face resistance in the short term. Any bearish crossover in this region could reinforce the likelihood of a breakdown below S1, in line with the Head and Shoulders pattern.
Conclusion: OPUSDT is at a crucial inflection point, with the price nearing the neckline of the Head and Shoulders pattern. A confirmed break below S1 (0.906) would likely result in a bearish continuation, with S2 (0.634) being the next major support. On the other hand, if bulls can reclaim R1 (2.053) and invalidate the bearish pattern, we could see a reversal toward higher levels. For now, the chart leans bearish, with the Stochastic RSI suggesting that the current rally could be losing strength.
In conclusion, traders should monitor the neckline at S1 carefully for any signs of a confirmed breakdown. The next few days will be pivotal in determining whether the bearish Head and Shoulders pattern plays out, or if bulls can regain control and push the price higher.
Optimism (OP): CME Gap Will Be Filled Soon!!Optimism coin has been bouncing from that bullish trend for some time now, where we see that we have developed here a nice OB zone + an unfilled CME gap has been left behind.
We are looking for a greater movement to lower zones to happen so eyes wide open here!
Swallow Team
#OP/USDT#OP
The price has broken the descending channel on the 4-hour frame upwards and is expected to continue
We have a trend to stabilize above the moving average 100 again
We have an upward trend on the RSI indicator that supports the rise by breaking it upwards
We have a support area at the lower limit of the channel at a price of 1.45
Entry price 1.60
First target 1.70
Second target 1.84
Third target 1.90
Optimism: Each Time It Goes Higher, Long-Term Super Growth (W#4)Each time it goes higher... Optimism is showing a pattern of long-term growth; a widening rising channel; higher highs and higher lows.
The pattern is very hard to miss on the chart and each time, each wave goes higher than the previous one. We can expect a higher high next and a new All-Time High for this magnificent trading pair.
➖ In mid-2023 we see similar price dynamics. A low in June leads to some consolidation and sideways action, and then a major bullish wave.
➖ In 2024 we can see the same. A low in August leads to some consolidation and sideways action and then a major bullish wave.
Now, the two previous waves, in early 2024 and 2023 happened after a bear-market. The 2025 wave will happen within a bull-market so total growth potential can be many times stronger, higher, than what is shown on the chart.
So get ready and prepare for the long-term because OPUSDT is going up, we have no doubt about this, and it will be strong, something this pair has never experienced before.
The future is bright for Crypto;
The future is bright for the Altcoins;
The future is bright for us.
If you are reading this now you have great timing, you are in the right place at the right time and the market will reward you for being wise and smart.
While our mental attitude is very important and how we approach the taking profits strategy with our trades can affect how much money we take home, timing cannot be ignored.
The best time to buy crypto before the major 2025 bull-market is late 2024.
Late 2024 is now... And we are preparing for long-term growth.
Thank you for reading and thank you for being around.
You will be happy with the results.
Namaste.
Significant increaseAfter breaking through the equilibrium zone, OP has experienced a significant increase, moving towards key resistance levels. Currently, the price is approaching the resistance at $1.70. If this level is broken, it could trigger further upward movement towards higher levels, potentially initiating a new bullish trend for OP.