$OP OP/USDT: Layer 2 Giant Overheated – Correction or Bull Trap?
OP is pumping hard but showing danger signs at **$0.809**, with RSI(6) screaming overbought at **74.16**. The Layer 2 token has **$44M** in daily volume, but is this rally sustainable or setting up for a painful pullback?
**Why the Pump?**
- Layer 2 narrative heating up (Base chain activity surging)
- OP Stack adoption rumors circulating
- "Optimistic" traders FOMO-ing in (pun intended)
**Critical Levels:**
- **Support:** $0.803 (MA25) – lose this and $0.771 is next
- **Resistance:** $0.878 (24h high) – break could target $0.914
**Technical Warning Signs:**
- MACD bullish (**0.001**) but losing steam
- Price far above MA99 ($0.818) – extended move
- Volume declining during uptick
**Prediction:**
Healthy pullback to **$0.803-0.818** likely before next leg up. But break **$0.878** and we could see a parabolic move to **$0.914**.
**How to Trade:**
- **Take Profits:** Consider trimming at $0.878
- **New Entries:** Wait for RSI <60 + test of MA25
- **Aggressive:** Buy dips above $0.803 with tight stops
Don't get caught holding bags – this looks due for a cool-off!
