The 4H and 1H charts point to OP/USDT consolidation sideways in the near term within the defined support and resistance levels. An upside breakout is possible if buying pressure persists to propel prices above the 4H and 1H resistance barriers. Overall outlook is bullish as long as the lower timeframes support holds.
Contents
For a more in-depth technical analysis across different timeframes, please click the link to view the identified levels of support and resistance, trends, and reversal patterns on the weekly and daily charts.
4 Hour Timeframe
- The 4H chart shows OP consolidating above the 3.911 support level.
- Range defined by support zones 1 at 3.911 and 2 at 3.418.
- Fibonacci retracement levels point to potential bounce points between 3.348-3.828.
- Demand zone 1 from 3.093-3.240 and bullish FVG from 3.240-3.500 add to support.
- 4H momentum seems poised to continue within the defined range as long as support holds.
Support and Resistance Levels
Support Zone 1 | 3.911 |
Support Zone 2 | 3.418 |
Fibonacci Retracement Levels
0.382 | 3.828 |
0.50 | 3.688 |
0.618 | 3.549 |
0.786 | 3.348 |
0.882 | 3.233 |
Demand Zone
Zone Number | High | Low |
Demand Zone 1 | 3.240 | 3.093 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bullish FVG 1 | 3.240 | 3.500 |
1 Hour Timeframe
- Short term view depicts OP moving within a bullish channel defined by support zones 1 at 3.911 and 2 at 3.446.
- Recent dip found buyers near support zone 2, reflecting strong demand.
- Upside favored on a break above resistance at 4.000.
- 1H timeframe depicts bullish bias as long as 3.446 support holds. Support and Resistance Levels
Support and Resistance Levels
Support Zone 1 | 3.911 |
Support Zone 2 | 3.446 |