OP Technical Analysis
Key Insights
- Currently, the asset is trying to recover the price after the correction phase.
- OP has shown a growth of more than 1146%, which is a significant performance in the context of the cryptocurrency market.
- A rebound of OP price level signifies a growing interest of crypto market participants in the asset.
As of writing, OP ranks 37th on CoinMarketCap with a market capitalization of $3,011,222,284.
OP Tech Analysis
Since the beginning of 2023, the asset has consistently grown, starting from a price of $0.405 and reaching a new all-time high of $4.818.
Right now, after reaching a new all-time high, the asset has started to correct, which is typical for dynamic movements in the cryptocurrency market. It's worth noting that the asset has almost reached the support trend line, which shows how important it is in the price dynamics.
At the price level of $1.808, there was a big rebound, which means that market participants are interested in buying the asset at this price level. This also shows that the market is reacting to support levels, which could help the asset's price stay strong in the long term.
OP Price Prediction
Right now, it looks like the market is going to keep on recovering in price and forming a consolidation under the resistance level, which is at the current ATH at the price mark of $4.818.
This process could take a while. At the support level, BTC is on the rise. If the ATH is broken and the price stays above that level, it could be a sign that the asset is going to keep growing and reach new heights.
Users can get OP for fiat or crypto on SimpleSwap.
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