$OP is down 76% in 1 year, and it just lost another 10% this week. 👀
Daily chart snapshot:
📉 Today: -2.40%
📉 7D: -10.43%
📉 30D: -37.64%
🚀 90D: +9.09%
📉 180D: -30.20%
📉 1Y: -76.43%
OP topped out near 0.1167 and has been sliding ever since, down about 20% to 0.0936. Most of the recent daily candles are red, and each bounce has been weaker than the last. Price is now sitting under every key average: MA(7) at 0.0981, VWAP(14) at 0.1051, MA(25) at 0.1090 and MA(99) at 0.1111. That stack is heavy overhead supply.
Levels I'm watching:
Support: 0.0906 (recent low)
Resistance: 0.0981 (MA7), then 0.1051 (VWAP), then 0.1090 (MA25)
The order book is balanced at 51% bids vs 49% asks, so buyers are not stepping in with conviction yet. I need a daily close above 0.0981 with rising volume before calling a bounce. A break below 0.0906 means fresh lows.
Is OP building a base near 0.09, or is this just a pause before the next leg down? Drop your take below 👇
Not financial advice. DYOR.
$OP
#OP #Optimism #Layer2 #cryptotrading #BinanceSquare
Daily chart snapshot:
📉 Today: -2.40%
📉 7D: -10.43%
📉 30D: -37.64%
🚀 90D: +9.09%
📉 180D: -30.20%
📉 1Y: -76.43%
OP topped out near 0.1167 and has been sliding ever since, down about 20% to 0.0936. Most of the recent daily candles are red, and each bounce has been weaker than the last. Price is now sitting under every key average: MA(7) at 0.0981, VWAP(14) at 0.1051, MA(25) at 0.1090 and MA(99) at 0.1111. That stack is heavy overhead supply.
Levels I'm watching:
Support: 0.0906 (recent low)
Resistance: 0.0981 (MA7), then 0.1051 (VWAP), then 0.1090 (MA25)
The order book is balanced at 51% bids vs 49% asks, so buyers are not stepping in with conviction yet. I need a daily close above 0.0981 with rising volume before calling a bounce. A break below 0.0906 means fresh lows.
Is OP building a base near 0.09, or is this just a pause before the next leg down? Drop your take below 👇
Not financial advice. DYOR.
$OP
#OP #Optimism #Layer2 #cryptotrading #BinanceSquare
