In-Depth Analysis of Asset #OP: Potential Long and Short Opportunities on 4-Hour Chart

Despite a significant global downturn, asset Optimism [OP] has managed to find support within robust zones, signaling the potential formation of an upward trend.

To confirm a continuation of this trend, a breakthrough above the $2.728 resistance zone, followed by consolidation, is necessary. This could pave the way for a substantial move towards the $3 zone, representing an 18% net gain.

Conversely, short positions may be considered following a re-test of the $2.65 resistance zone, provided there is a suitable reaction indicating further downside potential. This strategy aims to capitalize on accumulated liquidity below this level.

It’s essential to note the trader’s caution regarding long positions due to the current market volatility. As such, it’s advised to focus primarily on short opportunities from the specified zones outlined in the analysis.

This analysis highlights potential trading opportunities while emphasizing the need for careful consideration and risk management in navigating the current market conditions.

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