Optimism (OP) Poised for 340% Surge: Can Notcoin (NOT) Price Hit This Next Target?

Analyst Ali Charts points to potential upward moves for both Optimism (OP) and Notcoin (NOT).

Cryptocurrency analysis firm Ali Charts has pointed to potential upward moves for both Optimism (OP) and Notcoin (NOT) in the latest technical analysis.

Optimism Forms Ascending Triangle, Targeting 340% GainAli Charts highlighted Optimism as forming an ascending triangle, a pattern typically associated with bullish continuations and market bottoms. The setup shows OP consolidating within this triangle formation, characterized by higher lows and a consistent upper boundary. This suggests a buildup toward a potential breakout.

According to Ali Charts, OP has a history of strong price movements after forming this pattern, potentially leading to another strong upward move. Based on the Fibonacci retracement tool, Ali Charts points to the 1.618 Fibonacci extension level as a possible target for OP’s current rally.

In previous trends, we can see that when Optimism price hit this Fib level, it delivered a strong price movement. Now, the Fib extension is targeting $7.20 for #OP.

From OP’s trading price around $1.65, this projection represents a potential gain of 340%. At press time, OP trades at $1.80.

Fibonacci Levels Reinforce OP’s Price TargetThe Fibonacci 1.618 extension has served as a key resistance for OP, marking levels where rallies tend to pause or reverse. According to Ali Charts, the level is currently at $4.77, and if OP breaks past it, it could continue toward the higher target of $7.20.

Historical data shows that previous rallies from ascending triangles on OP’s chart delivered gains of up to 181.38%. Hence, it supports the possibility of a similar breakout in the current setup. The price has also been supported by a horizontal zone around $1.06, adding strength to a potential bullish move.

Notcoin Tests Breakout Point from Falling Wedge PatternAli Charts also provided insights on Notcoin, noting that it is currently testing the breakout point of a falling wedge pattern.

Falling wedges are typically associated with bullish reversals and suggest that NOT could see an upward breakout if the price manages to surpass the wedge’s upper boundary. This resistance level has contained NOT’s price for some time.

A successful breakout may push the token to a target of $0.012, indicating a potential gain of over 76% from its level of around $0.0074. At publication, NOT trades at $0.007984.

Looks like #Notcoin $NOT is testing the breakout level from a falling wedge pattern before it surges to the $0.012 target!

This setup could put NOT in a strong position for a significant move upward if confirmed. The token has gained over 8% in the last 24 hours, indicating market interest as the price nears the breakout level.