OPTIMISM - OP/USDT - Daily - Technical analysis published on 12/29/2022 (GMT)
- 130
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
22%
39%
39%
My opinion
Bearish under 0.956633 USDT
My targets
0.886833 USDT (-3.01%)
0.814267 USDT (-10.95%)
My analysis
In the short term, we can see an acceleration in the bearish trend on OPTIMISM - OP/USDT, which is a positive signal for sellers. As long as the price remains above 0.956633 USDT, a sale could be considered. The first bearish objective is located at 0.886833 USDT. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 0.814267 USDT as an objective. Crossing it would then enable sellers to target 0.673356 USDT. If the price were to return above 0.956633 USDT, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
4.5
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by finacian. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The OPTIMISM - OP/USDT price is 0.914400 USDT. The price registered an increase of +2.04% on the session and was between 0.882700 USDT and 0.920800 USDT. This implies that the price is at +3.59% from its lowest and at -0.70% from its highest.0.882700
0.920800
0.914400
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of this Daily chart of OPTIMISM - OP/USDT indicates that the overall trend is bearish. 71.43% of the signals given by moving averages are bearish. The overall trend is reinforced by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 4 are bullish, 7 are neutral and 7 are bearish. The Central Indicators scanner found no further results concerning independent technical indicators.
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of triangle
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.450000 | 0.673356 | 0.886833 | 0.914400 | 1.145360 | 1.363000 | 1.649000 |
| Change (%) | -50.79% | -26.36% | -3.01% | - | +25.26% | +49.06% | +80.34% |
| Change | -0.464400 | -0.241044 | -0.027567 | - | +0.230960 | +0.448600 | +0.734600 |
| Level | Minor | Intermediate | Major | - | Intermediate | Intermediate | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.822533 | 0.856367 | 0.876233 | 0.910067 | 0.929933 | 0.963767 | 0.983633 |
| Camarilla | 0.881333 | 0.886255 | 0.891178 | 0.896100 | 0.901023 | 0.905945 | 0.910868 |
| Woodie | 0.815550 | 0.852875 | 0.869250 | 0.906575 | 0.922950 | 0.960275 | 0.976650 |
| Fibonacci | 0.856367 | 0.876880 | 0.889553 | 0.910067 | 0.930580 | 0.943253 | 0.963767 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.766633 | 0.819467 | 0.875933 | 0.928767 | 0.985233 | 1.038067 | 1.094533 |
| Camarilla | 0.902343 | 0.912362 | 0.922381 | 0.932400 | 0.942419 | 0.952438 | 0.962458 |
| Woodie | 0.768450 | 0.820375 | 0.877750 | 0.929675 | 0.987050 | 1.038975 | 1.096350 |
| Fibonacci | 0.819467 | 0.861219 | 0.887014 | 0.928767 | 0.970519 | 0.996314 | 1.038067 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.483167 | 0.625533 | 0.814267 | 0.956633 | 1.145367 | 1.287733 | 1.476467 |
| Camarilla | 0.911948 | 0.942298 | 0.972649 | 1.003000 | 1.033351 | 1.063702 | 1.094053 |
| Woodie | 0.506350 | 0.637125 | 0.837450 | 0.968225 | 1.168550 | 1.299325 | 1.499650 |
| Fibonacci | 0.625533 | 0.752014 | 0.830153 | 0.956633 | 1.083114 | 1.161253 | 1.287733 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 47.11 | |
| MACD (12,26,9): | -0.0164 | |
| Directional Movement: | -9.499122 | |
| AROON (14): | -35.714286 | |
| DEMA (21): | 0.956281 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.050255 | |
| Elder Ray (13): | -0.012818 | |
| Super Trend (3,10): | 1.110745 | |
| Zig ZAG (10): | 0.952500 | |
| VORTEX (21): | 0.9412 | |
| Stochastique (14,3,5): | 22.80 | |
| TEMA (21): | 0.935537 | |
| Williams %R (14): | -74.66 | |
| Chande Momentum Oscillator (20): | -0.113600 | |
| Repulse (5,40,3): | 2.7618 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1178 | |
| Courbe Coppock: | 21.08 |
| MA7: | 0.948029 | |
| MA20: | 0.996065 | |
| MA50: | 0.966980 | |
| MA100: | 0.940850 | |
| MAexp7: | 0.950106 | |
| MAexp20: | 0.972845 | |
| MAexp50: | 0.979839 | |
| MAexp100: | 1.004132 | |
| Price / MA7: | -3.55% | |
| Price / MA20: | -8.20% | |
| Price / MA50: | -5.44% | |
| Price / MA100: | -2.81% | |
| Price / MAexp7: | -3.76% | |
| Price / MAexp20: | -6.01% | |
| Price / MAexp50: | -6.68% | |
| Price / MAexp100: | -8.94% |
Quotes :
-
Real time data
-
Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis OPTIMISM - OP/USDT - Daily