Optimism has been one of the best-performing altcoins, over the past weeks.<\/p>\n
Optimism Rollup network is one of the many blockchain solutions trying to solve Ethereum scalability solutions.<\/p>\n
Related Reading: How High Can Ethereum Go Before The Merge<\/p>\n
OP has shown a powerful bullish trend and continues to show why this is a crypto coin to accumulate for the bull run.<\/p>\n
Daily Chart Analysis Of Optimism (OP)<\/p>\n
Optimism (OP) started its bullish trend from the low of $0.45; after breaking out from the ranging channel with a resistance of $0.58, it has maintained an upward trend for the past weeks, going as high as $1.96, which is more than 300%.<\/p>\n
Daily low \u2013 $0.45<\/p>\n
Daily high \u2013 $1.96<\/p>\n
Daily supports \u2013 $1.34, $0.93, $0.45<\/p>\n
OP 1D Chart With Support Levels On The Daily Timeframe | Source: OPUSDT On Tradingview.com<\/p>\n
OP on the daily chart looks good with a strong uptrend over the past few days.\u00a0<\/p>\n
The structure of the bullish trends remains intact but accompanies it with a low volume showing that we could be coming to the end of the bullish trend.<\/p>\n
The support on the 1D charts for OP has already been indicated to allow possible accumulation or Dollar Cost Averaging (DCA)\u00a0<\/p>\n
Dollar Cost averaging is a strategy employed to buy crypto assets with a sum of money in bits over time or a strategy used to buy crypto assets at market levels as the assets make reversals.<\/p>\n
As of writing, OP is trading at $1.567 and could go to $1.34, which is the nearest support for accumulation.<\/p>\n
This support corresponds with the Fibonacci retracement of 61.8%, a healthy pullback for all crypto assets that must maintain a strong bullish uptrend.<\/p>\n
\u00a0OP would have difficulty breaking its All Time High (ATH) of $2.2, but should this region be broken; OP will continually in an upward trend or a price discovery to form a resistance and major support.<\/p>\n
Major support \u2013 $1.54, $0.93, $0.60, $0.45<\/p>\n
Major resistance \u2013 $2.1<\/p>\n
OP On The 4H Chart<\/p>\n
On the 4H chart, OP shows a bearish divergence sign \u2013 meaning we could be coming to the end of the bullish trend that has lasted for several days.\u00a0<\/p>\n
OP Showing A Bearish Divergence On The 4H Chart | Source: OPUSDT On Tradingview.com<\/p>\n
OP is currently trying to break below the ascending wedge on the 1H timeframe; a break and close below would mean going down to the next support.\u00a0<\/p>\n
OP Breaking Downward Of The Ascending Triangle On The 1H Chart | Source: OPUSDT Tradingview.com<\/p>\n
OP holding above $1.1 means the bullish structure is still valid, but a break to the low of this range would invalidate the setup.<\/p>\n
Major supports on 4H \u2013 $1.1, $0.9<\/p>\n
Major resistance on 4H \u2013 $2.1<\/p>\n
OP, in general, looks good both in the bear market and in the next bull run; this is one of the assets with a good use case and a very strong community behind it.<\/p>\n
Related Reading: TA: Bitcoin Price Struggles Below $25K, Signs of Double Top Emerges<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Optimism has been one of the best-performing altcoins, over the past weeks.<\/p>\n
Optimism Rollup network is one of the many blockchain solutions trying to solve Ethereum scalability solutions.<\/p>\n
Related Reading: How High Can Ethereum Go Before The Merge<\/p>\n
OP has shown a powerful bullish trend and continues to show why this is a crypto coin to accumulate for the bull run.<\/p>\n
Daily Chart Analysis Of Optimism (OP)<\/p>\n
Optimism (OP) started its bullish trend from the low of $0.45; after breaking out from the ranging channel with a resistance of $0.58, it has maintained an upward trend for the past weeks, going as high as $1.96, which is more than 300%.<\/p>\n
Daily low \u2013 $0.45<\/p>\n
Daily high \u2013 $1.96<\/p>\n
Daily supports \u2013 $1.34, $0.93, $0.45<\/p>\n
OP 1D Chart With Support Levels On The Daily Timeframe | Source: OPUSDT On Tradingview.com<\/p>\n
OP on the daily chart looks good with a strong uptrend over the past few days.\u00a0<\/p>\n
The structure of the bullish trends remains intact but accompanies it with a low volume showing that we could be coming to the end of the bullish trend.<\/p>\n
The support on the 1D charts for OP has already been indicated to allow possible accumulation or Dollar Cost Averaging (DCA)\u00a0<\/p>\n
Dollar Cost averaging is a strategy employed to buy crypto assets with a sum of money in bits over time or a strategy used to buy crypto assets at market levels as the assets make reversals.<\/p>\n
As of writing, OP is trading at $1.567 and could go to $1.34, which is the nearest support for accumulation.<\/p>\n
This support corresponds with the Fibonacci retracement of 61.8%, a healthy pullback for all crypto assets that must maintain a strong bullish uptrend.<\/p>\n
\u00a0OP would have difficulty breaking its All Time High (ATH) of $2.2, but should this region be broken; OP will continually in an upward trend or a price discovery to form a resistance and major support.<\/p>\n
Major support \u2013 $1.54, $0.93, $0.60, $0.45<\/p>\n
Major resistance \u2013 $2.1<\/p>\n
OP On The 4H Chart<\/p>\n
On the 4H chart, OP shows a bearish divergence sign \u2013 meaning we could be coming to the end of the bullish trend that has lasted for several days.\u00a0<\/p>\n
OP Showing A Bearish Divergence On The 4H Chart | Source: OPUSDT On Tradingview.com<\/p>\n
OP is currently trying to break below the ascending wedge on the 1H timeframe; a break and close below would mean going down to the next support.\u00a0<\/p>\n
OP Breaking Downward Of The Ascending Triangle On The 1H Chart | Source: OPUSDT Tradingview.com<\/p>\n
OP holding above $1.1 means the bullish structure is still valid, but a break to the low of this range would invalidate the setup.<\/p>\n
Major supports on 4H \u2013 $1.1, $0.9<\/p>\n
Major resistance on 4H \u2013 $2.1<\/p>\n
OP, in general, looks good both in the bear market and in the next bull run; this is one of the assets with a good use case and a very strong community behind it.<\/p>\n
Related Reading: TA: Bitcoin Price Struggles Below $25K, Signs of Double Top Emerges<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-4662","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/4662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=4662"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/4662\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=4662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=4662"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=4662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}