Optimism's native token OP is struggling to hold above $0.10 as sellers continue to dominate the order book. The level, reinforced by a cluster of moving averages, has repeatedly rejected price attempts to break higher. Taker sell volume has been overwhelming bids, signaling that bears remain firmly in control.
Resistance at $0.10 holds firm
The $0.10 mark has become a formidable barrier for OP. Multiple moving averages are stacked just above this price, creating a dense zone of resistance. Each time the token has approached this level, sellers have stepped in aggressively, pushing the price back down. The repeated rejections suggest that bulls lack the momentum needed to clear this hurdle.
Taker sell volume dominates
Data shows that taker sell volume has consistently outpaced taker buy volume in recent sessions. This means market participants are actively selling into bids rather than buying at the ask, a classic sign of bearish sentiment. The imbalance indicates that even as the price dips, there is no strong demand to absorb the selling pressure.
Key support at $0.09 is cracking
The $0.09 level has acted as a floor for OP in recent weeks, but that support is now showing signs of weakness. If the price confirms a break below $0.09, the next major target is $0.085, with little structural support in between. Traders are watching closely to see whether buyers will step in to defend the level or if the breakdown accelerates.
The immediate question is whether $0.09 can hold through the current session. A decisive close below that mark would open a direct path to $0.085, where the next significant demand zone sits.
