Reclaims $0.15 this week or I am wrong on $OP .
It’s at $0.1391, down 12.24% in 24h with $20.54M traded. Ugly chart. 🩸
But this isn’t clean capitulation. 4h RSI is 48, volume is running 1.9x the 20d average, and price is still above the 20d and 50d MAs. That matters.
Futures funding is -0.020%. Shorts are paying. Meanwhile $ETH isn’t showing the same relative weakness, which makes this look more like an OP flush than a full market breakdown.
My call: $OP tags $0.15 this week. At $0.15, I’d stop fading it and let the reclaim prove the trend is still alive. If it can’t get there, I own the miss. ⚡
@OptimismFND is sitting at the level where weak hands usually make the loudest exit.
#Optimism #Ethereum
It’s at $0.1391, down 12.24% in 24h with $20.54M traded. Ugly chart. 🩸
But this isn’t clean capitulation. 4h RSI is 48, volume is running 1.9x the 20d average, and price is still above the 20d and 50d MAs. That matters.
Futures funding is -0.020%. Shorts are paying. Meanwhile $ETH isn’t showing the same relative weakness, which makes this look more like an OP flush than a full market breakdown.
My call: $OP tags $0.15 this week. At $0.15, I’d stop fading it and let the reclaim prove the trend is still alive. If it can’t get there, I own the miss. ⚡
@OptimismFND is sitting at the level where weak hands usually make the loudest exit.
#Optimism #Ethereum