Seeing the chart $OPEN on the 4H timeframe, this is a bit attention-grabbing.
After experiencing selling pressure in the past few days, $OPEN has begun to show signs of recovery with an increase from a strong support area around $0.3217. However, currently, the price is still held back at an important resistance area of $0.39–$0.40 (blue zone).
Important Areas:
Nearest support: $0.3217
Strong support: $0.1855
Nearest resistance: $0.4569
Major resistance: $0.5297 – $0.6229 – $0.6984
Bullish Scenario:
If the price can break & close above $0.40, the potential increase could test the area of $0.4569. Breaking through this level opens opportunities towards the supply zone at $0.52–$0.62.
Bearish Scenario:
However, if it fails to break the resistance at $0.40 and rejection occurs, a correction to $0.32 may happen again. A drop below that level could extend the downtrend towards $0.18.
$OPEN is currently in the phase of testing key resistance. Watch for confirmation of breakout or rejection from the area of $0.39–$0.40 before taking a position.
Disclaimer: This analysis is for informational and educational purposes, not an invitation to buy or sell a specific crypto asset.
Price movements are volatile and high-risk — do your research and risk management before making trading decisions. DYOR!