Chart Overview: The OP/USDT pair on the 1D (Daily) timeframe is currently moving within a long-term descending trendline, forming a descending triangle or falling resistance channel since November 2024. The price is now approaching a critical point near the long-term resistance trendline (yellow line), which has been tested multiple times.
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🟢 Bullish Scenario: Breakout Potential
If the price manages to break and close above the descending trendline resistance (currently near the $0.80–$0.85 zone), it would signal a strong bullish breakout. The next key resistance levels to watch (based on yellow dotted horizontal lines) are:
1. $0.9035 – minor resistance
2. $1.0203 – psychological level
3. $1.1836 – mid-term strong resistance
4. $1.7352 and $2.1248 – extended bullish targets
A confirmed breakout would ideally be supported by increasing volume and RSI momentum above 50.
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🔴 Bearish Scenario: Rejection at Resistance
If the price fails to break the trendline and gets rejected, a downside move is likely to follow. Key support levels to watch are:
1. $0.7200 – current support
2. $0.6000 – minor support
3. $0.4577 – strong historical support (lowest level)
This would suggest continued bearish control and could extend the downtrend that has lasted over 8 months.
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📊 Pattern Breakdown: Descending Trendline
Consistent lower highs since the peak near $2.77
The descending trendline is the main battle zone between bulls and bears
This pattern often leads to a breakout if buyers gain momentum
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🎯 Conclusion & Strategy:
This is a critical zone for OP/USDT.
Traders should wait for breakout confirmation before entering long positions.
For breakout traders: consider a buy-the-breakout strategy with stop-loss below the trendline.
For short sellers: look for a rejection at resistance with targets at the nearest support levels.
#OPUSDT #CryptoAnalysis #Altcoins #TechnicalAnalysis #BreakoutTrade #Optimism #CryptoSetup #BullishScenario #BearishScenario #ChartPatterns
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🟢 Bullish Scenario: Breakout Potential
If the price manages to break and close above the descending trendline resistance (currently near the $0.80–$0.85 zone), it would signal a strong bullish breakout. The next key resistance levels to watch (based on yellow dotted horizontal lines) are:
1. $0.9035 – minor resistance
2. $1.0203 – psychological level
3. $1.1836 – mid-term strong resistance
4. $1.7352 and $2.1248 – extended bullish targets
A confirmed breakout would ideally be supported by increasing volume and RSI momentum above 50.
---
🔴 Bearish Scenario: Rejection at Resistance
If the price fails to break the trendline and gets rejected, a downside move is likely to follow. Key support levels to watch are:
1. $0.7200 – current support
2. $0.6000 – minor support
3. $0.4577 – strong historical support (lowest level)
This would suggest continued bearish control and could extend the downtrend that has lasted over 8 months.
---
📊 Pattern Breakdown: Descending Trendline
Consistent lower highs since the peak near $2.77
The descending trendline is the main battle zone between bulls and bears
This pattern often leads to a breakout if buyers gain momentum
---
🎯 Conclusion & Strategy:
This is a critical zone for OP/USDT.
Traders should wait for breakout confirmation before entering long positions.
For breakout traders: consider a buy-the-breakout strategy with stop-loss below the trendline.
For short sellers: look for a rejection at resistance with targets at the nearest support levels.
#OPUSDT #CryptoAnalysis #Altcoins #TechnicalAnalysis #BreakoutTrade #Optimism #CryptoSetup #BullishScenario #BearishScenario #ChartPatterns
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✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
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Penafian
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.