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OP / TetherUS

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OPUSDT trade ideas

OP short - swing trade Been short on OP for some time for a swing trade. Entry 2.5423 TP 2.2340 SL 2.668 Looking to see IF we continue lower from this point on. Taken some off as we are around a daily OB (red line) and will let some ride. Stops moved to breakeven and will keep an occasional eye on how we go from here. As you can see the weekly FVG (yellow box) gave a lot of opportunities for some nice short entries. Taken the trade in correlation with BTC currently not doing much and trading around the lows of its current range. Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
Short
by Patrick2707
OP/USDT Break Alert! It shows will retesting before continue UP!💎 Paradisers, #OP is indeed a coin worth monitoring closely. 💎 It's currently poised for a potential retest of the LTF demand zone around $2.47 after encountering resistance at the OB- area around $3.04. Notably, the chart already indicates a breakout from the descending channel, which is a positive sign. 💎 If OP successfully bounces from the LTF demand area, it could signal upward movement, contingent upon breaking through the OB- area to reach our next target strong resistance zone. 💎 However, if OP fails to bounce from the demand zone and breaks below it, we might see continued downward movement with a retracement to the support area. The last time OP reached the support area around $2, it exhibited significant bouncing and recovery, suggesting a similar pattern could unfold if it revisits this level. 💎 The bullish invalidation would be confirmed if OP fails to bounce at the support and the daily candle closes below the $1.86 support area. In such a scenario, the price would revert to a bearish trend and continue downward. MyCryptoParadise iFeel the success🌴
by MyCryptoParadise_Nathan
3
OPTIMISM (OP)Optimism (OP) is a layer-2 scaling solution for Ethereum that focuses on enhancing transaction speeds and reducing costs through Optimistic Rollups. This method offers a significant boost in throughput and efficiency for developers building on Ethereum, making it a critical player in the blockchain scalability arena. Given the continued importance of scalability for Ethereum and Optimism's effective technology, the next price targets for OP might realistically be set at $3.20, $4.00, and $7.00. Traders considering this bullish context may wish to engage now. This trading suggestion is based on Optimism's robust role in expanding Ethereum's capabilities and the general bullish trend in demand for layer-2 solutions.
Long
by icordkaz
📈Analyzing OP: Fundamentals and Technical Outlook💎🔍Today, we delve into the analysis of Optimism (OP) coin, a leading project in Ethereum Layer 2 solutions. Being one of the earliest and most reputable Layer 2 solutions, Optimism has garnered significant attention, particularly from DeFi enthusiasts, due to its substantially lower transaction fees compared to Ethereum. This has allowed users with limited capital to participate in DeFi and reap profits, further boosting its popularity within the crypto community. 📰Fundamentally, Optimism has demonstrated its potential with a daily trading volume of $500 million across 38 markets. Now, let's shift our focus to the technical aspects. Nearly a year since its listing on Binance, Optimism reached its all-time high (ATH) of $4.865 in early 2024. Presently, after a corrective phase, it has found support around $1.8 and currently resides at approximately $2.77. The next significant resistance lies at $2.943, with expectations high for its eventual breach. 📈The weekly timeframe indicates an upward trend, despite a recent selloff candlestick accompanied by significant volume, suggesting the possibility of further upward movement if green volumes begin to increase. However, persistent selling volumes and the SMA25 acting as resistance, particularly aligning with the $2.943 level, present a formidable barrier that could impede price action. 🛒In the event of further correction, a buying opportunity may arise in the range of $1.97 to $2.3, but it's advisable to exercise patience and wait for candlestick confirmation before entering the market. Subsequently, lower timeframes such as the daily can provide additional confirmation for our buy signal. ✅Our initial target is set at the ATH, with further targets to be identified upon consolidation above this level, utilizing Fibonacci extensions to pinpoint higher targets and resistances. Regarding the RSI, maintaining support at 41.7 is crucial to avoid potential heavy bearish pressure on the coin. 📝In conclusion, Optimism (OP) coin presents a compelling opportunity for traders, supported by both fundamental strengths and promising technical indicators. Traders are advised to exercise caution, await confirmation signals, and implement effective risk management strategies to navigate the market successfully.
Long
by itsparham96
Optimism OP price has been moving in its own "special way"Today, NASDAQ:OP #Optimism has attracted attention because it is not falling in line with CRYPTOCAP:BTC and other altcoins. In fact, for the past two weeks, the #OPUSDT price has been moving in its own "special way". Perhaps there is already some fundamental news ready for this price movement, do you know anything? Share in the comments. The critical level below is $2.30. If buyers hold on, then theoretically, the OP price could start to rise dynamically. Up to $3.40, or maybe even $4.40, or maybe even higher) Let's wait and see) _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
OP - Enjoy The Ride 🚗Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 OP has been overall bullish, trading within the rising broadening wedge pattern in red. Currently, OP is undergoing a correction phase and it is currently approaching the lower red trendline. Moreover, it is retesting a strong support zone marked in blue. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the blue support and lower red trendline acting as a non-horizontal support. 📚 As per my trading style: As #OP approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst