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🔴 $OP 1W Broke Major Support — Be Careful 🔴
📌This is a weekly chart, so this shows the long-term direction of $OP.
📌Blue arrows on the chart show support zones.Every time price came to these areas before, buyers stepped in and price moved up from there.
📌Red arrows on the chart show rejection points.Price tried to move up, but sellers pushed it back down strongly.
📌For the last 1 and a half years, $OP has been in a clear downtrend.The trendline shows that price is making lower highs again and again.
📌Price tried to break the downtrend 3 times, but failed every time ❌Each failure is marked with red arrows (strong rejection).
📌Important thing to notice:
👉 Price has now broken TWO major support zones (blue arrow areas)
👉 After breaking them, price did not bounce back
📌This means buyers are weak and sellers are still controlling the market.
📌Final conclusion (simple):
As long as price stays below broken supports and below the trendline, $OP remains BEARISH on the higher timeframe 🔴
{spot}(OPUSDT)
📌This is a weekly chart, so this shows the long-term direction of $OP.
📌Blue arrows on the chart show support zones.Every time price came to these areas before, buyers stepped in and price moved up from there.
📌Red arrows on the chart show rejection points.Price tried to move up, but sellers pushed it back down strongly.
📌For the last 1 and a half years, $OP has been in a clear downtrend.The trendline shows that price is making lower highs again and again.
📌Price tried to break the downtrend 3 times, but failed every time ❌Each failure is marked with red arrows (strong rejection).
📌Important thing to notice:
👉 Price has now broken TWO major support zones (blue arrow areas)
👉 After breaking them, price did not bounce back
📌This means buyers are weak and sellers are still controlling the market.
📌Final conclusion (simple):
As long as price stays below broken supports and below the trendline, $OP remains BEARISH on the higher timeframe 🔴
{spot}(OPUSDT)
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