The OP token surged 9.76% in recent trading, but technical indicators are flashing warning signs that the rally may be running out of steam. The relative strength index hit 74.50, pushing into overbought territory, while the MACD momentum flatlined at zero — a classic signal that upward momentum has stalled. Crypto forecasting platform CoinCodex now projects a 35% correction that would bring OP down to $0.11 by May 12.
Overbought Signals Flash
An RSI reading above 70 typically means an asset is overbought and due for a pullback. At 74.50, OP sits well inside that zone. The last time the token saw similar levels, it reversed sharply within days. Traders eyeing the surge are now weighing whether to take profits or hold through the expected downturn.
MACD Stalls
The MACD indicator, which tracks momentum by comparing short- and long-term moving averages, has flatlined at zero. That tells a clear story: the buying pressure that drove the 9.76% jump has run out of energy. Without fresh catalyst, the price could drift sideways or begin to slide. The combination of an overbought RSI and a stalled MACD often precedes a corrective move.
CoinCodex's $0.11 Target
CoinCodex, a crypto analytics platform, set a price target of $0.11 for OP by May 12. That would represent a 35% decline from current levels. The projection isn't pulled from thin air — it's based on the same technical readings that show momentum fading. Whether the target holds depends on whether OP can find support before the drop accelerates.
What Traders Watch Now
The key question is whether OP can break out of the overbought zone without a sharp sell-off. Some traders look for the RSI to dip back below 70 as a confirmation that the correction has started. Others wait for the MACD to turn negative. The May 12 date from CoinCodex gives a rough timeline, but crypto moves fast — the correction could come sooner if selling pressure builds.
For now, the rally is intact, but the technicals say it's on borrowed time.
