1. Summary
$OP is accumulating around 0.71–0.72 USDT with a neutral bias → bullish if breakout is confirmed; trade according to 2 scenarios: confirmed breakout or pullback with rejection. • Catalyst: partnership on sequencing and governance season affecting sentiment.
2. Analysis
Short-term bias: neutral → bullish if maintained above 0.71 and closes 1H above 0.725–0.73; strong resistance at 0.74–0.79 (previous swing highs), main support at 0.68–0.676. RSI 1H ~50 — neutral, not overbought; volume needs to increase to confirm continuation. Fundamentally, Optimism has a circulating supply of about ~1.75–1.8B OP out of a total supply of ~4.29B, and recently announced a technical partnership with Flashbots along with governance updates (Season 8) — these factors are both a catalyst and create governance risk; note on-chain warnings: reports of large inflow (305M OP) into CEX recently and upcoming unlock/vesting schedule may create selling pressure.
3. Strategy
Entry:
• Scenario A (breakout): buy on probe when 1H closes > 0.725 with increased volume (probe/limit).
• Scenario B (pullback): buy when there is a wick rejection at 0.695–0.69 with a clear 1H reversal candle.
Stop-loss:
• Breakout SL = 0.68 (below support/liquidity zone).
• Pullback SL = 0.665 (below swing low / liquidity zone).
TP1 / TP2:
• TP1: 0.74–0.745 (near supply zone).
• TP2: 0.78–0.79 (expanded swing high zone; consider lowering if liquidity is thin).
Exit triggers: large inflows into CEX, announcements of unlock/vesting, or RSI rising >75 with decreasing volume → trim/exit early. Prioritize limit/probe to reduce slippage; if market liquidity is weak, reduce entry size.
