Analyst Warns That a Drop Below $0.30 Could Be the Next Move If…
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OP’s head and shoulders breakdown indicates a potential crash, with $0.30 as the next target.
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A decline in transactions and demand suggests that OP faces a more significant downturn ahead.
Optimism [OP],
is displaying signs of weakness as the head and shoulders pattern hints at a larger downturn. The coin was trading at
$1.16
at press time, reflecting a 3.54% increase over the last day.
Nevertheless , analysts caution that a deeper drop could be on the horizon.
If bearish momentum continues, OP could plummet below $0.30, representing a significant decline from its former peaks.
A bearish reversal pattern signals trouble for OP;
Technical analysis reveals an unmistakable head and shoulders formation often suggesting an uptrend’s conclusion. The left shoulder was formed in early 2023 when OP reached around $3.70-3.80.
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The head materialized between late 2023 to early 2024, with OP hitting $4.90-5.00 during that period . The right shoulder emerged mid-2024; however ,the price failed to exceed $3 .00 , indicative of fading bullish momentum .
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The neckline at $1.40 served as robust support before it shattered significantly downward . Following this breakup , OPC dramatically dropped to current values . This validated the observed bearish trend.
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Continuing patterns may suggest further declines for BP analysts highlight possible support levels around$0 .70,$0 .50,$0 .38 or even$0 $.28 -$30..
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If ABOVE.$7 do not hold analyst prediction sees fast drop to below$.30.warns overwhelming market demand .
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`The number emerging identifies indices entry from previous observe upward shifts reporting there new addresses involving distinct growth rise by27 percent into modern assessment reflected regarding asset engagement measures.
Although decreases are shown among trades yields active participants questing growth showing numbers fell near18 percent indicating relaxation pace abandoning less wallets while noticing resistance technical involve supportive force stopping abandonments >>”;
