Coin Of The Week – Optimism (OP)

Optimism has been one of the best-performing altcoins, over the past weeks. Optimism Rollup network is one of the many blockchain solutions trying to solve Ethereum scalability solutions. Related Reading: How High Can Ethereum Go Before The Merge OP has shown a powerful bullish trend and continues to show why this is a crypto coin to accumulate for the bull run. Daily Chart Analysis Of Optimism (OP) Optimism (OP) started its bullish trend from the low of $0.45; after breaking out from the ranging channel with a resistance of $0.58, it has maintained an upward trend for the past weeks, going as high as $1.96, which is more than 300%. Daily low – $0.45 Daily high – $1.96 Daily supports – $1.34, $0.93, $0.45 OP on the daily chart looks good with a strong uptrend over the past few days. The structure of the bullish trends remains intact but accompanies it with a low volume showing that we could be coming to the end of the bullish trend. The support on the 1D charts for OP has already been indicated to allow possible accumulation or Dollar Cost Averaging (DCA) Dollar Cost averaging is a strategy employed to buy crypto assets with a sum of money in bits over time or a strategy used to buy crypto assets at market levels as the assets make reversals. As of writing, OP is trading at $1.567 and could go to $1.34, which is the nearest support for accumulation. This support corresponds with the Fibonacci retracement of 6...