💎 Paradisers, #OP is indeed a coin worth monitoring closely.

💎 It's currently poised for a potential retest of the LTF demand zone around $2.47 after encountering resistance at the OB- area around $3.04. Notably, the chart already indicates a breakout from the descending channel, which is a positive sign.

💎 If OP successfully bounces from the LTF demand area, it could signal upward movement, contingent upon breaking through the OB- area to reach our next target strong resistance zone.

💎 However, if OP fails to bounce from the demand zone and breaks below it, we might see continued downward movement with a retracement to the support area. The last time OP reached the support area around $2, it exhibited significant bouncing and recovery, suggesting a similar pattern could unfold if it revisits this level.

💎 The bullish invalidation would be confirmed if FARM fails to bounce at the support and the daily candle closes below the $1.86 support area. In such a scenario, the price would revert to a bearish trend and continue downward.

#CryptoWatchMay2024 #buythedip #MicroStrategy #BlackRock #altcoins