$OP is up 10.3% in 24h and still 44.46% higher over 30 days, which puts it 36.3 points ahead of BTC.
yesterday's high at $0.133 broke and is now acting as support. that's the whole trade for me. daily RSI is 57, so it isn't stretched, and the screener scores the setup 9 out of 14. that's a decent 9, not a 12, and i won't dress it up.
the backdrop: Optimism moved 546.9M OP out of future airdrops and into its ecosystem fund last month. fewer tokens set aside to hand out is a fair story, but the tape is what i'm trading.
$OP trades at $0.1354 right now. if it holds $0.133, i think it runs back to the 24h high at $0.1476, 8.9% away. if it loses $0.133, i'm wrong on this and there's nothing to defend. that's only 1.8% below spot, so if you're long you'll know fast.
holding $0.133 or losing it?
follow me for more calls like this.
yesterday's high at $0.133 broke and is now acting as support. that's the whole trade for me. daily RSI is 57, so it isn't stretched, and the screener scores the setup 9 out of 14. that's a decent 9, not a 12, and i won't dress it up.
the backdrop: Optimism moved 546.9M OP out of future airdrops and into its ecosystem fund last month. fewer tokens set aside to hand out is a fair story, but the tape is what i'm trading.
$OP trades at $0.1354 right now. if it holds $0.133, i think it runs back to the 24h high at $0.1476, 8.9% away. if it loses $0.133, i'm wrong on this and there's nothing to defend. that's only 1.8% below spot, so if you're long you'll know fast.
holding $0.133 or losing it?
follow me for more calls like this.