Unlocking the Potential of OP/USDT: A Technical Analysis for Cryptocurrency Investors

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Analysis of the OP/USDT Technical Chart:

The current trading price of OP is $2.425, representing a 27% decrease from its recent high in February. However, the chart shows that OP has generated high returns for investors in the past 3 months, with a 300% increase.

OP/USDT Technical analysis by CryptoPatel

Currently, OP is holding strong support at the neck line level, and it is expected to continue to do so. However, if it breaks down, there is a significant down leg waiting for the breakdown, and a 50% decrease is expected.

In the event of a breakdown, the first target is expected to be $1.642, with a second target of $1.16. Two major support points to watch are $1.642 and $1.435, with the possibility of a great entry point at a retracement of 0.5 and 0.618 at these levels.

The current resistance level for OP is $3.16.

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Thank you.#crypto2023 #Altcoin #OP #OPTIMISM #bitcoin 

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