Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>The OPEN stock price decreased by 7.51% over the past seven days.</a> </li> 
 <li> <span>2</span> <a>The OPEN stock price is currently trading at $3.20 with a drop of 1.54% in the last 24 hours.</a> </li> 
 <li> <span>3</span> <a>Opendoor Technologies has a current market cap of $2.109 Billion.</a> </li> 
</ul> 
<p>OPEN stock broke below the key moving averages, showing bearishness in the stock. However, after reaching a high of $5.40 the stock fell, resuming the downtrend that shows further weakness in Opendoor Technologies Inc.</p> 
<p>According to the current situation, the OPEN stock is trading below the dynamic support of 50 and 200 EMA which can further lead to more lower levels. The market is in a downtrend based upon a larger time frame as it is making lower lows.</p> 
<p>OPEN has been declining from its high levels, showcasing bearishness in the market. If Opendoor Technologies cannot stop the bearish pressure, it may form a new lower-low pattern shortly and prolong the downtrend. The present scenario requires traders and investors to be patient and look for a clear break below or above the range before making any moves and avoid the fear of missing out to minimize losses.</p> 
<p>OPEN stock price fell by 7.51% last week and it declined by 21.57% throughout the month. However, Opendoor Technologies shares experienced a rise of roughly 68.42% within the past six months and a decrease of 31.18% over the past year.&nbsp;</p> 
<p>Additionally, the Opendoor Technologies share price has returned approximately 171.19% year to date. These trends collectively indicate the rollercoaster ride that OPEN stock price is going through.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-open-stock-price-strong"><strong>Technical Analysis of OPEN Stock Price</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/tUSNX8OqJnXUUdMh4dRFoTC3O1D5R0qsByI_9jmVECUPkoRpLA9ZS-yFWubkYnZ2N53OE5gr_zRpfK2JbNwxq8VNyVaH-PSTMuOH9g-ZZ4vUEQFL4d4b1cKuSDfWmsh6KlzGDWl0l7hJSzzMeOrSI6M" alt="OPEN Stock Price Analysis: Will Opendoor Break the Level of $1?"> 
  <figcaption class="wp-element-caption">
    Source: OPEN.1D.NASDAQ by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>OPEN price is currently at a crossroads. It could go up to $5.60 and $6.09 if it can break out from the current level. However, if the price cannot maintain this level and falls, it might hit the closest support levels of $4.16 and $3.21.</p> 
<p>At press time, <a href="https://www.thecoinrepublic.com/2023/08/05/open-stock-lost-over-26-intraday-despite-positive-earnings/" rel="noopener noreferrer nofollow">Opendoor Technologies </a>is trading below the 50 and 200-day exponential moving averages, which are not supporting the price trend. If bulls bounce back, they will have to rise and maintain the price beyond the 50 and 200-day EMAs. Nevertheless, the sellers seem to be more aggressive as compared to buyers.</p> 
<p>The price of Opendoor Technologies is currently trading near the crucial support levels. If selling pressure increases, the price could break through these levels and move lower which is a bearish signal, as it would suggest that the trend is reversing.</p> 
<p>The current value of RSI is 38.27 points. The 14 SMA is above the median line at 41.22 points which indicates that the OPEN stock is bearish. The MACD line at -0.2289 and the signal line at -0.1335 are below the zero line. A bearish crossover is observed in the MACD indicator which is heading downwards signaling bearishness for the upcoming sessions.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>OPEN stock price projection suggests bearishness in the chart. The bears are overlooking the higher levels. OPEN stock technical oscillators support the bearish trend. The MACD, RSI, and EMA emphasize negative signs and imply that the downtrend may continue in the <a href="https://www.thecoinrepublic.com/2023/08/05/open-stock-lost-over-26-intraday-despite-positive-earnings/" rel="noopener noreferrer nofollow">Opendoor Technologies stock price</a>. OPEN Price action suggests that the investors and traders are bearish on the 1-D time frame. Technical analysis suggests that the OPEN stock price is in a bearish grip and the probability of testing the previous highs in the coming months remains low.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> Immediate support levels are $4.16 and $3.21</li> 
</ul> 
<ul> 
 <li><strong>Resistance Levels:</strong> Nearest resistance levels are $5.60 and $6.09.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.</p>

OPEN Stock Price Analysis: Will Opendoor Break the Level of $1?

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Thecoinrepublic.com

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