OP Technical Analysis Feb 23

OP is positioned in the deep oversold region at RSI 20.15 level, while MACD confirms bearish momentum with a negative histogram. Although the price remaining below EMA bands shows weak trend strength, oversold conditions may signal a short-term rebound.

Trend Status and Momentum Analysis

OP token is trading at 0.12 dollars as of February 22, 2026, with a 4.59% decline in the last 24 hours, stuck in a daily range of 0.12-0.13 dollars. Volume is hovering around 110 million dollars, indicating moderate activity compared to previous days but not strongly supporting the downtrend. The overall trend direction is downward; the price continues to stay below EMA20 (0.18 dollars) and the Supertrend indicator is giving a bearish signal. From a confluence perspective of momentum oscillators, although RSI’s oversold region is dominant, MACD’s bearish configuration preserves trend strength. In multi-timeframe (MTF) analysis, 10 strong levels were identified across 1D, 3D, and 1W timeframes: 1 support/1 resistance on 1D, 2 supports/3 resistances on 3D, 2 supports/4 resistances on 1W, highlighting the weight of resistances in higher timeframes. This structure indicates weak momentum and that even a potential recovery will face strong resistances. Lack of volume confirmation suggests the downtrend is starting to tire, but accumulation patterns have not yet formed. Short-term momentum may neutralize due to oversold conditions, but the overall trend remains bearish.

RSI Indicator: Buy or Sell?

RSI Divergence Analysis

RSI(14) at 20.15, which signals the deep oversold region below 30 and has historically produced strong rebound signals at this level. Recently, while the price is making new lows (around 0.12 dollars), a slight higher low formation is observed in RSI – this could be an early sign of regular bullish divergence. On the daily chart, despite the sharp drop from 0.13 to 0.12, RSI not declining below 25 shows momentum is starting to exhaust. A similar slowdown is seen in weekly RSI; the descent from 40 levels to 20 has slowed. Hidden bullish divergence is not yet clear, but regular divergence suggests selling pressure is easing and buyers are starting to accumulate. Confirmation of this divergence requires RSI to rise above 30 and the price to hold above the 0.1205 support. In the absence of divergence, if RSI drops toward 15, bearish momentum could accelerate.

Overbought/Oversold Regions

The oversold region (RSI <30) is a typical bottom formation area for OP; past data shows 20-50% recoveries from these levels. The current 20.15 value recalls the 2024 lows and shows confluence with Stochastic. However, the distance from overbought (70+) confirms the dominance of downward trend strength. RSI approaching the 50 centerline will be the first threshold for a momentum shift.

MACD Signals and Histogram Dynamics

MACD(12,26,9) is in bearish position; the signal line is below the MACD line and the histogram is expanding with negative bars. The latest crossover occurred downward, and the size of histogram bars indicates increasing bearish momentum – however, a slight contraction began in the last 48 hours, implying momentum has peaked. On the daily chart, the histogram is at -0.008 and distant from the zero line; this signals continued selling pressure but potential exhaustion. Weekly MACD also shows no bearish divergence, with the signal line sloping downward. Volume increase is required for the histogram to cross above the zero line; current 110M volume is insufficient. Overall, while MACD gives a short-term sell signal, histogram dynamics may be setting up a potential bullish crossover (post-contraction). To watch: If histogram turns positive, 0.1286 resistance could be tested.

EMA Systems and Trend Strength

Short-Term EMAs

Price is below EMA20 (0.18 dollars), with death cross completed between EMA9 and EMA12; this weakens short-term trend strength. EMA ribbon is narrowed and sloping downward, confirming momentum loss. Price approaching EMA20 (currently 0.06 away) could support a potential bounce, but the bearish order of the ribbon creates resistance.

Medium/Long-Term EMA Supports

EMA50 (0.22 dollars) and EMA200 (0.35 dollars) are distant supports; price is far below these levels and ribbon dynamics preserve the long-term downtrend. Medium-term EMAs (EMA50-100) are starting to flatten, indicating reduced trend strength. For strong momentum, price needs to reach EMA50, but the current structure does not support this. Detailed EMA levels can be followed in OP Spot Analysis and OP Futures Analysis.

Bitcoin Correlation

BTC at 67,726 dollars level with 0.42% decline in downtrend; Supertrend giving bearish signal. Main supports at 67,628, 64,541, and 62,910 dollars; resistances at 68,046, 70,909, 74,487. OP is highly correlated with BTC (0.85+); BTC breaking below 67,628 could drag OP toward 0.11. Rising BTC dominance is risky for altcoins; OP recovery requires BTC to break above 68,000. As long as BTC downtrend continues, OP momentum will remain limited.

Momentum Outcome and Expectations

In the synthesis of momentum indicators, RSI oversold and potential bullish divergence, along with MACD histogram contraction, carry short-term bounce potential – 0.1286 resistance as first test target, 0.2009 possible on breakout (low score). However, EMAs and MTF resistance weight preserve the downtrend; bearish target 0.0437 (high score). Momentum will remain neutral without volume confirmation. Main support 0.1205 (79/100 score); breakdown accelerates selling. Overall outlook: Cautious optimism, BTC correlation critical. Close watch: RSI 30+, MACD histogram zero line.