Optimism is now moving within a "extreme BUY" zone. This is a price zone that was active only once between June and July 2022, one month only and then OPUSDT went on a massive rally. Total growth amounting to more than 1,111% from bottom to top.
This zone has been activated again for a little over one month and I believe it won't remain valid much longer. There is room for a new wave of growth but this time much more than 1,111%.
The target shown on the chart is a good one but I believe this trading pair/Cryptocurrency project can go higher when all is said and done.
Technical analysis —Bullish based on price action
On the 16-June week, 22-June specifically, Optimism (OPUSDT) hit its lowest price yet. 0.457. This is just a bit higher compared to the all-time low June 2022 at 0.396. We can easily say the bottom is in as this week the action is back above its 7-April 2025 low.
Higher targets
The next high target sits at $12, giving us a 2,078% potential for profits from current price. 0.551 at the time of writing.
Previous cycle vs current cycle
Optimism's first bullish cycle lasted 630 days. The next cycle, the one that is about to start now, can last an entire year, eight months... We are entering uncharted territory so it is hard to say.
One thing I can say based on TA is that this new wave will be much more steep compared to the last one. The climb will be really fast, it will be hard to adapt.
How to trade to maximize profits
The best way to approach this pair for sure success is by buying when prices are low, now. This would secure a smooth ride and happy profits on the way up.
If you are reading this now, your timing is awesome because we are looking at a bottom catch, this type of opportunity is only seen once every several years. For example, the last time OPUSDT traded this low was in mid-2022, three years ago. Once the bullish wave takes off, there is no going back. Once the bulls are in, low prices will be forever gone.
Thanks a lot for your continued support.
Namaste.