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.
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.