OPTIMISM - OP/USDT

- USDT (-)

- Real time data - CoinMarketCap

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Type:	Cryptocurrencies
Ticker:	OPUSDT
ISIN:

OPTIMISM - OP/USDT - Daily - Technical analysis published on 02/24/2023 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Bullish

Underlying: Strongly bullish

Technical indicators

61%

33%

My opinion

Bullish above 2.61 USDT

My targets

2.82 USDT (+3.30%)

3.10 USDT (+13.55%)

My analysis

The basic bullish trend is very strong on OPTIMISM - OP/USDT but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 2.61 USDT. Crossing the first resistance at 2.82 USDT would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 3.10 USDT as an objective. Caution, a return to below 2.61 USDT would be a sign of a consolidation phase in the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

7.1

Comment on the analysis

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.

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Additional analysis

Quotes

The OPTIMISM - OP/USDT price is 2.73 USDT. The price has increased by +8.33% since the last closing and was traded between 2.35 USDT and 2.80 USDT over the period. The price is currently at +16.17% from its lowest and -2.50% from its highest.

2.35

2.80

2.73

Here is a more detailed summary of the historical variations registered by OPTIMISM - OP/USDT:

Technical

A technical analysis in Daily of this OPTIMISM - OP/USDT chart shows a strongly bullish trend. The signals given by moving averages are 89.29% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

The technical indicators are bullish. There is still some doubt about the price increase.
No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.

The analysis of the price chart with Central Patterns scanners does not return any result.

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	1.15	1.65	2.21	2.73	2.82	3.10
Change (%)	-57.88%	-39.56%	-19.05%	-	+3.30%	+13.55%
Change	-1.58	-1.08	-0.52	-	+0.09	+0.37
Level	Intermediate	Minor	Major	-	Major	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	2.21	2.33	2.42	2.54	2.63	2.75	2.84
Camarilla	2.46	2.48	2.50	2.52	2.54	2.56	2.58
Woodie	2.21	2.32	2.42	2.53	2.63	2.74	2.84
Fibonacci	2.33	2.41	2.46	2.54	2.62	2.67	2.75

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.37	1.73	2.25	2.61	3.13	3.49	4.01
Camarilla	2.54	2.62	2.70	2.78	2.86	2.94	3.02
Woodie	1.46	1.77	2.34	2.65	3.22	3.53	4.10
Fibonacci	1.73	2.06	2.27	2.61	2.94	3.15	3.49

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	-0.37	0.29	1.23	1.89	2.83	3.49	4.43
Camarilla	1.73	1.88	2.02	2.17	2.32	2.46	2.61
Woodie	-0.23	0.36	1.37	1.96	2.97	3.56	4.57
Fibonacci	0.29	0.90	1.28	1.89	2.50	2.88	3.49

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	56.21
MACD (12,26,9):	0.1200
Directional Movement:	5.48
AROON (14):	-35.71
DEMA (21):	2.75
Parabolic SAR (0,02-0,02-0,2):	2.18
Elder Ray (13):	-0.05
Super Trend (3,10):	2.08
Zig ZAG (10):	2.73
VORTEX (21):	1.0300
Stochastique (14,3,5):	53.42
TEMA (21):	2.65
Williams %R (14):	-25.91
Chande Momentum Oscillator (20):	0.31
Repulse (5,40,3):	8.5600
ROCnROLL:	1
TRIX (15,9):	0.9400
Courbe Coppock:	8.20

MA7:	2.66
MA20:	2.67
MA50:	2.16
MA100:	1.56
MAexp7:	2.64
MAexp20:	2.57
MAexp50:	2.21
MAexp100:	1.82
Price / MA7:	+2.63%
Price / MA20:	+2.25%
Price / MA50:	+26.39%
Price / MA100:	+75.00%
Price / MAexp7:	+3.41%
Price / MAexp20:	+6.23%
Price / MAexp50:	+23.53%
Price / MAexp100:	+50.00%

Quotes : - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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