Optimism (OP) Falling Wedge

10 May

OPUSDT is attempting a breakout from a 14 months long falling wedge.

A sustained break above the resistance in the near term would set the target at $3.80, just shy of the main $4.00-$4.80 supply zone.

Key Levels to Watch
• $0.55-$0.60: Main demand zone and invalidation point for the setup
• $1.00-$1.20: High Volume Node and key S/R dating back to June 2023.*
• $2.50-$2.80: High Volume Node and wedge high point.*
• $4.00-$4.80: Main supply zone.

* These could offer resistance and represent good levels for partial TPs.

10 May

Not

Error in the original post, the falling wedge is 6 months long, not 14.
Everything else is correct.

15 May

İşlem aktif

OP breakout confirmed, now potentially retesting the wedge upper boundary as support.