OP breaks through the inverse head and shoulders pattern, can the Layer 2 leader surge to $0.45?

Question

【Crypto World】OP has been in the spotlight over the past 24 hours—rising over 13%, leading the entire Layer 2 track. Even more impressive is the surge in trading activity, with transaction volume skyrocketing over 140%, surpassing $200 million in a single day, and on-chain transaction counts remaining high at over 2.5 million.

From the K-line chart, this wave of OP’s market movement is quite interesting. It successfully broke through the neckline of the inverse head and shoulders pattern at $0.3388, which is a key technical signal. Once this breakout is confirmed, according to pattern analysis, OP could target $0.45. Of course, whether it can actually reach that level depends on holding the support at this breakout point.

GasBandit · Accepted Answer

Inverse head and shoulders breakdown, I've played this move too many times. The key is whether it can hold above 0.3388; otherwise, it's definitely another trap to lure in buyers.

0.45? Dream on, it depends on the market maker’s mood.

This round's trading volume is indeed fierce, but it feels a bit fake. Be careful of a dump.

OP leading the way in L2 is interesting, but I'm already tired of it. Where's the next dark horse?

Trading volume surged by 140%, indicating someone is buying in... I don't know who is so foolish.

If it can really reach 0.45, I would go all in, but I bet 5 bucks it gets stuck at 0.38 and starts sideways trading.

This kind of technical breakdown is the most deceptive; I've been caught once already.

Let's wait and see. Inverse head and shoulders are usually false breakouts. That's the lesson I learned.

SmartMoneyWallet · Answer

A 140% surge in trading volume, with $200 million in daily transactions... Is this behind it retail FOMO or big funds accumulating?

Breaking through the neckline at 0.3388 looks very promising, but what does the on-chain distribution of chips look like? I suspect this wave is either a shakeout or a big whale quietly building positions.

The 2.5 million transaction count is interesting; we need to analyze the fund flow and not be fooled by the K-line.

Hitting 0.45 sounds exciting, but I'm more concerned about whether this support level can truly hold... Is the 2.5 million transactions a sign of heat or just wash trading?

With such a fierce volume, I actually feel it's dangerous... Usually, such a sharp increase is the last celebration before a dump.

mev_me_maybe · Answer

$0.45? Alright, let's see if it can hold above 0.3388 first.

WhaleWatcher · Answer

Hmm... 0.45, can it really reach that? Feels like the prelude to a scythe again.

Token_Sherpa · Answer

ngl the volume spike is doing heavy lifting here... 13% pump on $200m daily vol doesn't scream conviction to me. reverse head & shoulders are cool and all, but sustaining above 0.3388 is literally the only thing that matters—if this closes below, we're back to square one tbh. that 0.45 target feels like chart porn territory rn

OP breaks through the inverse head and shoulders pattern, can the Layer 2 leader surge to $0.45?

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