The technical indicators on both 4 hours and 1 hour timeframes point to an upside potential for OP USDT in the short term. The untested fair value gaps represent upside targets, with resistance to be broken at 0.382 in 1 hour and between 3.146-3.160 in 4 hours. Support lies at demand zones and retracement levels defined earlier. A decisive break above resistance targets of 3.136 in 1 hour and 3.160 in 4 hours would strengthen the bullish case.
4 Hour Timeframe
In the 4-hour chart, we can see that OP USDT is currently trading within the support zone between 2.985-3.031. Below this level lies strong support. Between 3.418-3.530 lies a key resistance zone.
Analyzing the Fibonacci retracement levels provides more context. The 0.382 level at 3.146 will act as an important resistance. Below this we have a demand zone from 3.102-3.041 which could see buying pressure.
There is an untested bullish fair value gap from 3.160-3.102. This signals further upside potential if price moves above 3.146 resistance. With price currently respecting the demand zone and 0.50 retracement level of 3.102, the short term trend remains bullish on the 4-hour chart.
Support and Resistance Levels
S / R Type | High | Low |
Support Zone | 2.985 | 3.031 |
Resistance Zone | 3.418 | 3.530 |
Fibonacci Retracement Levels
0.382 | 3.146 |
0.50 | 3.102 |
0.618 | 3.058 |
0.786 | 2.996 |
0.882 | 2.961 |
Demand Zone
Zone Number | High | Low |
Demand Zone | 3.102 | 3.041 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bullish FVG | 3.160 | 3.102 |
1 Hour Timeframe
Zooming into the 1-hour chart, we can see Fibonacci levels are tightly clustered. Resistance lies at 0.382 of 3.194 followed closely by 0.50 at 3.164 and strong resistance at 0.618 of 3.136 level.
Below this lies the demand zone providing support between 3.109-3.043. Similar to the 4-hour chart, there is an untested bullish fair value gap from 3.109-3.138. A decisive break above 3.136 resistance could lead to a test of this gap.
With price currently holding above the demand zone support level, the short term 1-hour trend also remains bullish.
Fibonacci Retracement Levels
0.382 | 3.194 |
0.50 | 3.164 |
0.618 | 3.136 |
0.786 | 3.096 |
0.882 | 3.072 |
Demand Zone
Zone Number | High | Low |
Demand Zone | 3.109 | 3.043 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bullish FVG | 3.109 | 3.138 |