The post OP Technical Analysis Feb 10 appeared on BitcoinEthereumNews.com.

As the OP token approaches critical supports around $0.18, RSI at 26.53 signals oversold conditions; however, the downtrend continues under bearish MACD and Supertrend pressure – short-term recovery or further deepening? Market Outlook and Current Situation The Optimism (OP) ecosystem is trending in a clear downtrend on the daily chart amid increasing competition in Layer-2 solutions. With the current price positioned at $0.18, it recorded a 3.68% decline over the last 24 hours, while trading volume remained at moderate levels of $50.84 million. The 24-hour range is squeezed between $0.18-$0.19, indicating reduced volatility but ongoing underlying selling pressure. Moving in sync with Bitcoin’s 2.35% drop in the broader crypto market, OP is sharing in the general weakness of altcoins. The price continuing below the EMA20 ($0.23) confirms short-term bearish momentum. Examining OP’s performance over recent weeks, it remains within the descending channel that has persisted since December. Decreasing volume signals that major players are on the sidelines, while on-chain metrics reveal a slowdown in ecosystem growth activity. Nevertheless, the strength of the Layer-2 narrative holds long-term potential for OP. If daily closes slip below the $0.1815 support, a deeper correction could come into play. In this context, OP spot analyses are critically important for followers. In multi-timeframe (MTF) confluence analysis, 7 strong levels were identified: 2 supports/3 resistances on 1D, 1 support on 3D, 2 supports/1 resistance on 1W. This confluence heightens the sensitivity of the price’s current position and emphasizes the need for traders to be cautious. Technical Analysis: Key Levels to Watch Support Zones OP’s strongest support level stands out at $0.1579 (score: 76/100); this zone is the confluence point of Fibonacci retracements and past lows on daily and weekly charts. If the price pulls back here, aggressive buying opportunities may form, as oversold conditions boost rebound potential.…

---

Filed under: News - @ February 10, 2026 7:30 am