๐ $OP Ready for a Breakout? ๐
Optimism (OP) is currently trading at $1.197, up +10.02% in the last 24 hours. The price has formed a strong bullish structure on the 15-minute chart after breaking out from a demand zone (highlighted in gray).
๐ Technical Breakdown:
โ Entry Zone: Price is stabilizing above the previous resistance (now turned support).
โ Target: $1.276 โ A push toward this level could confirm further upside momentum.
โ Stop Loss: $1.162 โ Below the previous support zone to manage risk.
โ Risk-Reward Ratio: Favorable for long positions as price maintains higher lows.
๐ Bullish Case: If OP sustains above $1.196, a breakout toward $1.276 is likely. Increased trading volume could drive further price action.
โ ๏ธ Bearish Scenario: Losing $1.180 support could trigger a pullback toward $1.162.
๐ข Are you bullish or bearish on OP? Drop your thoughts below!