{"id":158355,"date":"2023-09-19T06:46:36","date_gmt":"2023-09-19T01:16:36","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=158355"},"modified":"2023-09-19T06:46:36","modified_gmt":"2023-09-19T01:16:36","slug":"optimism-flips-range-high-to-support-should-you-long-it-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/optimism-flips-range-high-to-support-should-you-long-it-crypto-news\/","title":{"rendered":"Optimism flips range-high to support &#8211; Should you long it?\u00a0 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"single-post-author-top\">\n<p>\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Benja-80x80.jpeg\" class=\"avatar pp-user-avatar avatar-48 photo \" height=\"48\" width=\"48\" \/><\/p>\n<p>Journalist<\/p>\n<\/p><\/div>\n<p>\t\t\t\t\t\t\t\t<span class=\"mvp-post-date updated\">Posted: September 19, 2023<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span><\/p>\n<\/p><\/div>\n<div>\n<p><i><span style=\"font-weight: 400\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion<\/span><\/i><\/p>\n<ul>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">OP flipped the previous range-high of $1.350 to support<\/span><\/em><\/li>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">Considerable sell limit orders were placed at $1.450 and $1.500<\/span><\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/OP\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Optimism [OP]<\/span><\/a><span style=\"font-weight: 400\"> consolidated recent recovery gains above $1.350 ahead of the Fed decision. Last week\u2019s (11-17 September) recovery tipped OP to mount above the previous range-high of $1.350.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">Is your portfolio green? Check out the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/optimism-profit-calculator\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Optimism Profit Calculator<\/span><\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">At press time, <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/btc\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Bitcoin [BTC]<\/span><\/a><span style=\"font-weight: 400\"> had reclaimed the mid-range of $27k. It was poised for the range-high of $28.3k or more if the Fed decision on 20 September is favorable to buyers. Such a move could tip OP for more gains.\u00a0<\/span><\/p>\n<h3>Will OP retest $1.5?<\/h3>\n<div id=\"attachment_344627\" style=\"width: 1960px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/OPUSDT_2023-09-18_14-30-34.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-344627\" class=\"wp-image-344627 size-full\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"Optimism\" width=\"1950\" height=\"1109\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/OPUSDT_2023-09-18_14-30-34.png 1950w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/OPUSDT_2023-09-18_14-30-34-300x171.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/OPUSDT_2023-09-18_14-30-34-1024x582.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/OPUSDT_2023-09-18_14-30-34-768x437.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/OPUSDT_2023-09-18_14-30-34-1536x874.png 1536w\" data-lazy-sizes=\"(max-width: 1950px) 100vw, 1950px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/OPUSDT_2023-09-18_14-30-34.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-344627\" class=\"wp-image-344627 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/OPUSDT_2023-09-18_14-30-34.png\" alt=\"Optimism\" width=\"1950\" height=\"1109\" \/><\/a><\/p>\n<p id=\"caption-attachment-344627\" class=\"wp-caption-text\">Source: OP\/USDT on TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">Last week\u2019s recovery was briefly held at the previous range-high on 12 and 13 September. However, OP flipped the level to support afterwards. The bulls defended the range-high as support at press time and could aim for the next target level of $1.5.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">If so, such a move could present an extra 7% gain from the $1.40-level. So, going long on the asset could present modest gains in such a scenario. Above $1.50, the next resistance level is $1.590, which aligned with a weekly bearish order block (OB) of $1.55 \u2013 $1.77 (red).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Conversely, a drop below the support of $1.350 will invalidate the above bullish bias. Such a reversal could ease at the mid-range or range-low ($1.30).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, key price chart indicators, RSI and CMF, were inclined towards a bullish bias. Notably, the RSI rebounded at the median level and recorded an uptick. It denoted that buying pressure had improved at press time.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Similarly, the CMF was flat but above zero over the past few days. At press time, it registered an uptick, confirming further substantial capital inflows into OP markets.<\/span><\/p>\n<h3>Key sell limit orders at $1.45 and $1.50<\/h3>\n<div id=\"attachment_344628\" style=\"width: 1230px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/OP-Mobchart.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-344628\" class=\"wp-image-344628 size-full\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"Optimism\" width=\"1220\" height=\"542\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/OP-Mobchart.png 1220w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/OP-Mobchart-300x133.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/OP-Mobchart-1024x455.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/OP-Mobchart-768x341.png 768w\" data-lazy-sizes=\"(max-width: 1220px) 100vw, 1220px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/OP-Mobchart.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-344628\" class=\"wp-image-344628 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/OP-Mobchart.png\" alt=\"Optimism\" width=\"1220\" height=\"542\" \/><\/a><\/p>\n<p id=\"caption-attachment-344628\" class=\"wp-caption-text\">Source: Mobchart<\/p>\n<\/div>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">How much are <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-op-to-usd\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">1,10,100 OPs worth today<\/span><\/a><span style=\"font-weight: 400\">?\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">According to <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/mobchart.com\/x\/r\/c19ac2a4ce1cd71f\/\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">Mobchart<\/span><\/a><span style=\"font-weight: 400\">, an order book tracking platform, significant sell limit orders were placed at $1.45 and $1.50 (next resistance target), as shown by the bold red lines. On the buy side, buy limit orders were placed at $1.30 (range-low).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The inference from the above is that the price could see a price reversal near the sell limit orders of $1.45 and $1.50, while a drop could see OP rebound at or near $1.30.\u00a0<\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Journalist Posted: September 19, 2023 Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion OP flipped the previous range-high of $1.350 to support Considerable sell limit orders were placed at $1.450 and $1.500 Optimism [OP] consolidated recent recovery gains above $1.350 ahead of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":158356,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-158355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/158355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=158355"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/158355\/revisions"}],"predecessor-version":[{"id":158362,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/158355\/revisions\/158362"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/158356"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=158355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=158355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=158355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}