OP is currently around 0.1u. This year it has been trending down all the way—dropping from 0.22u at the start of the year into the 0.37u range, then slumped steadily lower to today, down by nearly 60%.

This coin is used for Ethereum Layer 2. Chains like Base and Zora use its technology stack, and there are quite a few projects tied into its ecosystem—so in theory it should have support.
But the problem is that the Layer 2 track is too crowded right now. A bunch of chains are competing for the same pool of users and capital. OP’s own token doesn’t directly benefit much from ecosystem prosperity, and that’s the core reason it hasn’t been able to move up over the past two years.
On the technical side, it’s currently in a fairly awkward spot. The short-term moving averages are still being pressed downward, and the long-term trend has seen no real improvement. Market sentiment toward it has stayed low.
Its all-time high was 4.85u, but now it’s down to just a few bucks cents. It’s down more than 90%.
There’s no clear short-term support or rebound signal. In a crowded track where the token doesn’t directly benefit, when it falls, it’s hard to say when it can truly stop.
At this level, I won’t proactively touch it—unless the overall sentiment of the Layer 2 track comes back first#OP $OP