Witnessing another notable drop in the past 24 hours, OP turned more bearish as it posted a total loss of 70% in 90 days. It appears to have resumed impulsive moves after undergoing a short retracement in March. The last 24 hours saw OP through its biggest daily loss in two weeks as it reached a new monthly low today. This came with a significant crack to where it is priced at $0.61, although it is yet to find support. While last month’s trading was a bit relieving as the bears suspended pressure, things will likely get uglier in the next few days following the recent drag down. A technical look at the daily chart suggested that the supply level is currently high. A further increase in the supply level could cause severe pain and panic as it might put the market in a more bearish condition on the daily chart. As of now, the bulls are off the market. If they manage to step back with an interception, the selling may temporarily stop before resuming. This could bring a small recovery, as we experienced in March. Failure to recover might lead to a steady decrease until it finds support. Starting the second quarter of the years with a major sell-off signals a bearish continuation pattern. OP may post heavy losses before climbing back. Closing this quarter under $0.1 will signal a long-term bear run. OP’s Key Level To Watch Source: Tradingview OP is currently approaching the $0.6 level. A drop below this key level could send us to a low of $0.5. The next level for support would be $0.4. In the face of the dip, the bulls are technically suffering losses. If the market recovers, we may see a retest at $0.677. Higher resistance levels are mounted at $0.786 and $0.93. Key Resistance Levels: $0.677, $0.786, $0.93 Key Support Levels: $0.6, $0.5, $0.4 Spot Price: $0.612 Trend: Bearish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !