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OP / TetherUS PERPETUAL CONTRACT

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OPUSDT.P trade ideas

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 If you found this chart helpful, please like, follow, and appreciate it. Thank you.
Short
by CryptoPatel
6
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! If you like ideas provided by our team you can show us your support by liking and commenting. Yours Sincerely, Swallow Team 🔱 Disclamer: We are not financial advisors. The content that we share on this website are for educational purposes and are our own personal opinions.
by SwallowAcademy
6
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
Long
by marktiu
3