OP/USDT
Entry Point $0.6970 - $0.7000
Stop Loss $0.6600
Target 1 $0.7430
Target 2 $0.7900
Target 3 $0.8300
The OP/USDT Perpetual 4-hour chart shows Optimism currently trading at $0.6990, virtually unchanged. After a peak around $0.9534 in mid-May, OP has been in a downtrend, breaking below the middle band of the Bollinger Bands (BOLL: 20, 2), which is at $0.7427. The RSI is at 31.06, indicating it's approaching oversold conditions.
Resistance is likely around the middle Bollinger Band and the previous highs. Support can be seen near the lower Bollinger Band, currently around $0.6637, and potentially at the previous low around $0.5726. The recent red candles suggest continued bearish momentum in the short term, but the approaching oversold RSI could signal a potential for a bounce if the lower Bollinger Band holds as support.
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