$OP #analysis▶️ #TradingIdeas
📊Well, OP - both fundamentally and technically...
Our logic here is roughly the following, if very crudely simplified: ETH grows - OP also grows. Because ETH is the locomotive in this situation, and Optimism is a second-level solution (Layer2, L2), which is designed to increase the speed and scalability of the Ethereum network. Well, let me note that I expect pure growth from ETH, as well as from the entire market in the last quarter of this year (local correction is permissible and necessary). 📝
➡️On the chart, Optimism is another example of how the leading diagonal develops, at the moment the asset has locally completed the correction phase ABC within the descending wedge, received a breakthrough, a test of the key resistance at $2 and a reaction from it. It is most logical to observe the pullback that is forming and use it to set positions (0.382-0.618 according to Fibo, grid on the chart). By the way, all the active accumulation and large-scale purchases of the asset took place exactly below this level, which confirms the volume profile. What will happen next, I think, is obvious - a breakout and growth with an ATH update of $4.86. 💲
👍$8 is the minimum goal of growth in the long term.