📈LONG: $OP (1W)

#OPUSDT | #OP | #Optimism

Current Price $1.77

Market Cap $1.93B

Change 1h -0.25% | 24h -11.07%

Weekly Indicators:

• RSI: 37 - Neutral 🟠

• MACD: -0 - Bearish 🔴

• EMA: 2.62 - Below 🔴

Analysis:

OP has been trading within a bullish channel for the past two years. Despite a recent drop, the price is approaching the channel's bottom support. A bounce here could offer patient bulls a lucrative opportunity, anticipating a significant gain if the trend holds strong.

Price Targets:

If OP bounces from the channel's support, bulls can eye a target of $7. A prudent stop loss should be set below the previous long-term swing low at around $1.55 to manage risk effectively.$OP

#DYOR