$OPN already had that vertical breakout from 0.33 to 0.73, and now the chart clearly shows a distribution phase. On the 1H timeframe, price keeps printing lower highs after topping at 0.7344. The recent bounce to 0.58–0.60 looks weak and corrective, not impulsive.

MA(7) is sloping down and acting as dynamic resistance, and every attempt to push higher is getting sold into. Volume is also fading compared to the breakout leg, which supports the idea of continued downside pressure in the short term.

I still lean bearish while price remains below the 0.62–0.64 area.

Trade Bias: SHORT

Entry Zone: 0.590 – 0.615

Take-Profit 1: 0.550

Take-Profit 2: 0.500

Take-Profit 3: 0.440

Stop-Loss: 0.665

As long as OPN trades under the lower high structure and fails to reclaim 0.64+, I prefer targeting a deeper retracement. A strong reclaim above 0.66 would invalidate the short idea and suggest bulls are stepping back in.

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