Price Position and Structural State
OpenLedger (OPEN) closed at 0.1511 USDT on August 29, 2026, down 1.05%. The asset now sits in a sideways structure near the bottom of its 55-day range. Current 55-day support is near 0.1403 USDT, with resistance near 0.2334 USDT. A daily close below 0.1403 USDT would confirm a downside regime shift. A hold near support would keep price inside the range.
Moving Averages and Trend Context
OPEN is trading below all key moving averages. MA14 at 0.160957 USDT stands as the first moving-average resistance area to watch. Price sits 11.39% 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 high trading friction, with a 3-day friction score of 34.8. The score combines price progress, wick rejection, and volume confirmation. Recent candles show contested movement, with weak price progress or heavier wick rejection. In this condition, moves near support or resistance carry less weight until price closes more cleanly.
Open Interest, Funding, and Positioning
Open interest fell -4.11% in one day and remains near the lower side of its 30-day range. This shows participation is weak and exposure is still being reduced.
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 1.07, 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 a moderate relationship with the broader crypto market (Sigloid Index). Correlation indicates partial co-movement with the index, while R² suggests that index behavior explains only part of its movement. This means broader market direction has some influence, but asset-specific factors remain important. Over the 30-day window, the relationship is strengthening. Over the 60-day window, the relationship is strengthening. Over the 180-day window, the relationship is stable.
| Window | Correlation | Beta | R² | Read |
|---|---|---|---|---|
| 30D | 0.485 | 0.94 | 0.235 | Moderate linkage |
| 60D | 0.33 | 0.635 | 0.109 | Moderate linkage |
| 180D | 0.289 | 0.627 | 0.084 | Weak linkage |
Momentum, Volatility, and Indicator Pressure
OPEN's volatility profile is controlled rather than stretched. ATR% reads 8.53, close to the bottom of its full historical range. Bollinger Band width% reads 38.02, near the middle of its full historical range. 20-day Volume Z-score is -0.85. Range expansion is not leading the setup right now.
Momentum is weaker. RSI is 39.93, ROC14 is -14.54%, and MACD histogram is negative. These readings point in the same direction: downside pressure is active, while recovery pressure remains limited.
The read is cautious: downside momentum is active, but volatility and participation do not confirm a strong break yet.
Broader Market Regime
The Sigloid Index remains in a bullish regime, showing broad strength across the market. OPEN has a moderate link to that market condition, so market strength can still influence price behavior, while asset specific factors also matter.
Key Levels for the Next State Change
For OPEN, the next structural shift depends on range boundaries. A daily close above 55-day resistance at 0.2334 USDT establishes a bullish regime, while a daily close below 55-day support at 0.1403 USDT confirms a bearish regime.