$OPEN /USDT — 15m Technical Read
Price is coiling around 0.1608–0.1620, showing tight consolidation after the earlier fade. The 0.1608 area has been defended cleanly multiple times — buyers stepped in on each dip, absorbed sell pressure, and kept the tape from accelerating lower.
Momentum remains soft-to-bearish with price capped below declining short-term MAs, signaling sellers are still active on rebounds. That said, downside momentum is not expanding; volatility is compressing, which points to balance rather than panic.
On the upside, 0.1625–0.1645 is the first resistance band, aligning with short-term MA supply and prior intraday rejection. A stronger overhead barrier sits at 0.1660–0.1680, where sellers previously defended aggressively and late buyers got trapped.
Bias: Neutral to slightly bearish while below 0.1645. The tape favors consolidation with a downside lean unless buyers reclaim resistance and flip structure.
Caution: Acceptance below 0.1605–0.1608 would weaken the defended base and open the door for fresh downside momentum expansion.
For now, this is range compression after decline — resolution pending as buyers and sellers battle for the next momentum expansion.
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