$OP

Technical Analysis OP USDT

This asset has shown very weak performance over the past year and a half.

On the daily timeframe, we can see that the overall decline has started to slow down within a descending price channel. There is a bullish divergence forming with the Relative Strength Index at the lower levels of the channel.

With this bullish signal, OP has begun to recover. It is now breaking through a series of reversal levels that act as resistance.

For further upward movement, it needs to break the upper limit of the channel and surpass the level of approximately $0.79 📈. It is very close to this point now. A break above this limit could lead to a rise of up to approximately $0.92 and the area of the 200 exponential moving average.