OpenLedger (OPEN) Bearish Price Structure, Support and Resistance

OPEN market structure, key levels, and derivatives interpreted from closed daily data, and explaining its behavior relative to the broader crypto market.

As of 2026-07-16 | Symbol OPEN | Last closed price 0.1463
Last closed price
0.1463
Closed daily candle only, no live price.
365 day range
0.1327 to 1.8915
Based on the last 365 closed daily candles.
Key levels (55D)
0.1403 / 0.2659
Support is lower, resistance is upper.

Price Position and Structural State

OpenLedger (OPEN) closed at 0.1463 USDT on July 16, 2026, down 2.01%. The asset now sits in a bearish structure. Price entered this structure after closing below 55-day support at 0.1472 USDT on July 8, 2026. Current 55-day support is near 0.1403 USDT, with resistance near 0.2659 USDT. A daily close above MA14 at 0.1528 USDT would weaken the regime and shift price back into sideways.

Breakdown Context: 121-Session Support Pressure

OpenLedger spent about 121 sessions consolidating above the 0.1472 USDT support level before a breakdown closed below it. This confirmed the bearish structural transition. The major compression period shows sustained pressure at the support level, where repeated attempts to hold failed until sellers took control and pushed the price lower.

Moving Averages and Trend Context

OPEN is trading below all key moving averages. MA9 at 0.148244 USDT stands as the first moving-average resistance area to watch. Price sits 20.61% below MA50, within its historical distance range of -45.32% to 48.40%. The moving-average structure is bearish without showing extreme downside extension.

Trading Friction and Price Efficiency

OPEN shows moderate trading friction, with a 3-day friction score of 37.3. The score combines price progress, wick rejection, and volume confirmation. Recent candles show mixed acceptance, so price is moving but still showing some noise. Moves near support or resistance need a cleaner daily close before they carry stronger weight.

Open Interest, Funding, and Positioning

Open interest increased +1.15% in one day but remains near the lower side of its 90-day range. This shows participation is improving from a low leverage base.

Funding is positive on the 24-hour average at +0.005000%, with the 7-day average also positive at +0.005000%. This shows sustained long-side cost pressure across both short and medium windows.

The long/short ratio is 1.05, showing near balance between long and short accounts. It sits near the middle of its 60-day range, so account-side positioning looks balanced.

Correlation, Beta, and Index Relationship

OPEN shows weak linkage to the broader crypto market (Sigloid Index). Correlation is limited, and R² indicates that index behavior explains only a small portion of its movement. This suggests price action is largely driven by asset-specific factors rather than broader market direction. Over the 30-day window, the relationship is stable. Over the 60-day window, the relationship is stable. Over the 180-day window, the relationship is stable.

Correlation, Beta, and R² by Window
Relationship metrics compare this asset with the Sigloid Index across closed daily data windows.
WindowCorrelationBetaRead
30D0.2490.4350.062Weak linkage
60D0.2360.4960.056Weak linkage
180D0.3440.630.118Moderate linkage

Momentum, Volatility, and Indicator Pressure

OPEN remains in a low-volatility setup. ATR% reads 8.88, close to the bottom of its full historical range, and Bollinger Band width% reads 18.85, close to the bottom of its full historical range. 20-day Volume Z-score is -0.84, so participation is not forcing a broader move yet.

MACD histogram has turned positive, while RSI is 38.09 and ROC14 is -6.82%. Short-term impulse is trying to turn first, but broader momentum and acceleration still lag.

The read is early: some pressure is improving, but the asset remains compressed. A better signal would need range expansion and stronger volume.

Broader Market Regime

The Sigloid Index remains in a sideways regime, showing no clear broad market direction. OPEN has a weak link to that market condition, so price behavior depends mainly on asset specific structure rather than the broader market.

Key Levels for the Next State Change

For OPEN, the next structural shift depends on key levels. Staying below MA14 at 0.1528 USDT keeps the current trend intact. A daily close above MA14 would weaken the structure and push price back into a range, while a confirmed break above 55-day resistance at 0.2659 USDT would establish a bullish regime.

OpenLedger (OPEN) Historical Chart and Market Context

Sigloid historical research chart

This chart gives a historical research view of the asset, including daily price, ATR%, Bollinger Band width%, distance from moving averages, historical open interest, funding, historical long/short ratio, and rolling correlation, beta, and R² versus market benchmarks.

Chart Description

The OpenLedger (OPEN) chart includes historical daily price data, RSI, MACD, moving averages, distance from key moving averages, ATR%, Bollinger Band width%, volume, open interest, funding, and long/short positioning. It also adds structural and statistical context, including 55-day price range position and historical range positioning for ATR%, Bollinger Band width%, open interest, and long/short ratio across 30-day, 60-day, 90-day, 180-day, and full-history windows. In addition, it provides multi-timeframe rolling correlation, beta, and R² versus the Sigloid Index, Bitcoin, and Ethereum, helping evaluate trend structure, volatility conditions, derivatives positioning, and broader market relationships in a single research view.

Data notes

Data source: Binance futures market data. Indicators use closed daily candles only.

Disclaimer: Research context only. Not financial advice. No prediction. Crypto markets are risky.

Research FAQ

Frequently Asked Questions

Short answers based on closed daily structure, volatility, derivatives, and Bitcoin relationship data.

What is the current market structure for OPEN?+

OPEN is currently in a bearish structure based on closed daily data. Sigloid treats this as a breakdown below the prior 55-day range until price reclaims structure.

What are the key support and resistance levels for OPEN?+

OPEN's nearest resistance is MA9 near 0.148244 USDT. Possible support is near 0.100754 USDT, estimated from historical downside distance from MA50; ATR% and Bollinger Band width% remain compressed, so extension may still be developing. If the asset has limited trading history, this estimate can be less reliable.

What would change the current OPEN structure?+

The bearish structure would weaken if OPEN reclaims its key moving-average base or closes back inside the prior range. A stronger bullish shift would need a close above 55-day resistance near 0.2659 USDT.

What do momentum and volatility show for OPEN?+

OPEN's momentum is mixed. RSI reads 38.09, ROC14 is -6.82%, while ATR% and Bollinger Band width% show the current volatility backdrop.

What do open interest and long/short positioning show for OPEN?+

Open interest and positioning show balanced participation. OI changed +1.15% over one day, while the long/short ratio reads 1.05.

How correlated is OPEN with Bitcoin?+

OPEN currently shows weak linkage with Bitcoin on the 30-day window. Correlation is 0.27, beta is 0.61, and R² is 0.07.

Is Sigloid's OPEN analysis based on live price?+

No. Sigloid's daily OPEN analysis uses closed daily market data, not live intraday price. Live structure changes are tracked separately on the Live Events page.