- OP price increased to $2.16 but traders may need to wait for a reversal to make gains.
- A strong support at $1.72 could help sustain entries between $1.80 to $1.85 if OP pulls back.
- OPs’ funding rate was positive, suggesting that traders are bullish on the price action.
Michaël van de Poppe, crypto investor and founder of MN Trading told his X followers that they should be careful about buying Optimism (OP) at any value. He further noted that they should focus on finding entries between $1.85 and $1.935.
Van de Poppe also added that OP would most likely follow in Ethereum’s (ETH) direction. So, those looking to buy OP should watch out for the price action of ETH.
Request 03 – $OPAnother one follows the path of Ethereum.
If there's a correction, then it would be wise to look at the region between $1.85-1.935 to ensure you're getting a proper entry.
Right now, you're basically chasing the candles. pic.twitter.com/mUqf8I2gFn
— Michaël van de Poppe (@CryptoMichNL) December 7, 2023
OP Follows ETH the Leader
The analyst’s opinion seemed valid when considering the price action of OP and ETH price action on December 7. According to CoinMarketCap, ETH r…
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