OPTIMISM - OP/USDT - 15 min. - Technical analysis published on 08/27/2023 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
6%
61%
33%
My opinion
Bearish under 1.48 USDT
My targets
1.45 USDT (-0.48%)
1.43 USDT (-2.26%)
My analysis
There is a bearish trend on OPTIMISM - OP/USDT both at the basic level and in the short term. A sale could be considered, so long as the price remains below 1.48 USDT. Each support break is a strong signal that the current trend will continue. The first bearish objective would be 1.45 USDT. Then the price could move towards 1.43 USDT. Then 1.40 USDT by extension. Be careful, a return to above the resistance 1.48 USDT would be a sign of a weakening of the trend and a possible rebound phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend is perhaps more risky.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
6.8
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This analysis was given by Blackord. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The OPTIMISM - OP/USDT price is 1.46 USDT. The price registered a decrease of -1.35% on the session with the lowest point at 1.46 USDT and the highest point at 1.50 USDT. The deviation from the price is 0% for the low point and -2.67% for the high point.1.46
1.50
1.46
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Bearish opening
Type : Bearish
Timeframe : Openning
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 15 min. chart of OPTIMISM - OP/USDT indicates that the overall trend is bearish. 78.57% of the signals given by moving averages are bearish. The overall trend seems to be showing some signs of weakness, as do the tentative bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further decline is moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is under support 3
Type : Neutral
Timeframe : 15 minutes
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near support of channel
Type : Bullish
Timeframe : 15 minutes
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Doji
Type : Neutral
Timeframe : 15 minutes
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.36 | 1.41 | 1.45 | 1.46 | 1.48 | 1.52 | 1.57 |
| Change (%) | -6.85% | -3.42% | -0.68% | - | +1.37% | +4.11% | +7.53% |
| Change | -0.10 | -0.05 | -0.01 | - | +0.02 | +0.06 | +0.11 |
| Level | Major | Minor | Major | - | Minor | Intermediate | Intermediate |
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 | 1.40 | 1.43 | 1.45 | 1.48 | 1.50 | 1.53 | 1.55 |
| Camarilla | 1.47 | 1.47 | 1.48 | 1.48 | 1.49 | 1.49 | 1.49 |
| Woodie | 1.41 | 1.43 | 1.46 | 1.48 | 1.51 | 1.53 | 1.56 |
| Fibonacci | 1.43 | 1.45 | 1.46 | 1.48 | 1.50 | 1.51 | 1.53 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.24 | 1.35 | 1.41 | 1.52 | 1.58 | 1.69 | 1.75 |
| Camarilla | 1.43 | 1.45 | 1.46 | 1.48 | 1.50 | 1.51 | 1.53 |
| Woodie | 1.23 | 1.34 | 1.40 | 1.51 | 1.57 | 1.68 | 1.74 |
| Fibonacci | 1.35 | 1.41 | 1.45 | 1.52 | 1.58 | 1.62 | 1.69 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.66 | 0.91 | 1.26 | 1.51 | 1.86 | 2.11 | 2.46 |
| Camarilla | 1.45 | 1.50 | 1.56 | 1.61 | 1.67 | 1.72 | 1.78 |
| Woodie | 0.71 | 0.94 | 1.31 | 1.54 | 1.91 | 2.14 | 2.51 |
| Fibonacci | 0.91 | 1.14 | 1.28 | 1.51 | 1.74 | 1.88 | 2.11 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 38.36 | |
| MACD (12,26,9): | 0.0000 | |
| Directional Movement: | -7.05 | |
| AROON (14): | -35.72 | |
| DEMA (21): | 1.47 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.48 | |
| Elder Ray (13): | -0.01 | |
| Super Trend (3,10): | 1.48 | |
| Zig ZAG (10): | 1.46 | |
| VORTEX (21): | 0.8700 | |
| Stochastique (14,3,5): | 11.50 | |
| TEMA (21): | 1.47 | |
| Williams %R (14): | -100.00 | |
| Chande Momentum Oscillator (20): | -0.01 | |
| Repulse (5,40,3): | -0.5900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.14 |
| MA7: | 1.52 | |
| MA20: | 1.52 | |
| MA50: | 1.51 | |
| MA100: | 1.43 | |
| MAexp7: | 1.47 | |
| MAexp20: | 1.47 | |
| MAexp50: | 1.47 | |
| MAexp100: | 1.48 | |
| Price / MA7: | -3.95% | |
| Price / MA20: | -3.95% | |
| Price / MA50: | -3.31% | |
| Price / MA100: | +2.10% | |
| Price / MAexp7: | -0.68% | |
| Price / MAexp20: | -0.68% | |
| Price / MAexp50: | -0.68% | |
| Price / MAexp100: | -1.35% |
Quotes :
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Real time data
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Cryptocompare
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