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OP Mainnet is a low-cost and lightning-fast Ethereum L2 blockchain powered by Optimism. It is an EVM equivalent layer 2 blockchain designed to scale up Ethereum.
OPUSD showed a minor pullback after a massive sell-off.
Any daily close above $3 confirms further bullishness.
OPUSD gained more than 50% after a major sell-off. The pair holds above the short-term (21 and 55 EMA) and below the long-term moving average in the 4-hour chart. It hit a high of $2.78 yesterday and is currently trading around $2.52.
The bullish invalidation can happen if the pair closes below $1.80. On the lower side, the near-term support is $1.55/$1.Any close below $1 targets $0.75.
The pair's near-term resistance is around $2.80. Any breach above confirms minor bullishness. A jump to $3.10/$3.60 is possible. A surge past $3.60 will take it to $4/$5.
It is good to buy on dips around $2.40 with SL around $2 for TP of $3.60/$4.
