OP market analysis today:
1. K-line pattern:
The current price of OP is 1.7201 USDT, showing a fluctuating upward trend. The main support level below is 1.60 USDT, while the upper resistance level is 1.80 USDT. The price has tried to break through the resistance level of 1.80 USDT many times, but failed, indicating that there is strong selling pressure in this area.
If the price can break through 1.80 USDT, it is expected to rise further to 1.90 USDT or even 2.00 USDT; if it fails to break through, the price may pull back to 1.60 USDT or even the lower 1.50 USDT support area.
2. Technical indicators:
MACD: The MACD fast line is above the zero axis and diverges from the slow line, indicating that the market has strong bullish momentum. If the fast line and the slow line continue to diverge, the price may continue to rise; if the two lines begin to converge, be alert to the risk of callback.
RSI: The current RSI is 63, indicating that the market sentiment is optimistic, but close to the overbought range (above 70). If the RSI breaks through 70, a pullback may occur.
EMA: EMA30 (1.70 USDT) is higher than EMA120 (1.68 USDT), indicating that the current market trend is relatively healthy and positive. If the price can break through and stand above EMA7 (1.75 USDT), the upward trend may be further confirmed.
3. Volume:
The volume has remained stable recently, without obvious enlargement or reduction. If the price breaks through the resistance of 1.80 USDT in the future and is accompanied by an increase in volume, it may push the price further up.
Operation suggestions:
Long:
Entry point: Consider entering the market to go long when the price pulls back to 1.65 USDT.
Target profit: The first stop profit is set at 1.90 USDT, and the second stop profit is set at 2.00 USDT. If the upward momentum is strong, the long-term target can be set at 2.20 USDT.
Stop loss point: The stop loss can be set at 1.50 USDT to prevent the price from falling below the key support.
Short:
Entry point: If the price encounters resistance near 1.80 USDT and fails to break through, you can consider shorting in this area.
Target profit: The first stop profit level is set at 1.60 USDT, and the second stop profit level is set at 1.50 USDT.
Stop loss point: The stop loss can be set above 1.85 USDT to prevent the price from breaking through the resistance level.
