- OSMO price is currently trading at $0.8008, recording a significant change of 161% in the 24-hour trading volume.
- A decline of 3.68% in the last 24 hours has been observed.
The price of OSMO is at present trading near its previous support zone. The price is trading within a sidewise range and it is alsorespecting the $0.7000 price point over the last 10 months. Though near late January, the price made a bull trap in the daily chart when the price made a wick that was twice as long as price’s value however it was not reflected in the volumes.
OSMO price is taking a minor retracement from the $0.7500 price level. Which is its primary support zone if the price gains buyers’ support from this level successfully it can make a bullish rally of 11% in the near future. The price is reflecting the overall market sentiments which are slowly moving towards the greed zone.
OSMO Price may take a bullish turn in the recent future on daily timeframe.
The market sentiments at present are trading around the greed zone in the greed and fear sentiment index. There has been an increase of 5 points since last week when it was around 52 points. The current value of the greed and fear index is approximately 59 points according to the Alternative(dot)me.
Technical Analysis of the OSMO Price
The price of OSMO is trading 9% above its current support level which is around $0.7300. The OSMO price can see a increase of 11% further if it gains buyers support. Major resistance level for OSMO token is at $1.1000 and its current resistance is at $0.8640. The current support point for the price of OSMO is near $0.7300 and its major support is at $0.6500.
The RSI line is trading in the favour of the bulls on Daily timeframe. The value of the RSI line is crossing above the median line moving steadily towards oversold levels at present it is at 50.64 points; the 14 SMA is providing support to the RSI line at 49.53 points.
Conclusion
According to the analysis, at present the OSMO price is in a sideways range. It is taking a reversal from its support zone and with buyers support it can move 11% further.
Oscillators are supporting the buyers presently they are moving with the price. RSI and stochastic has recently taken a reversal from the overbought levels and the upward curve of RSI is suggesting a bullish reversal from current levels.
Technical levels –
Support –$0.7300. and $0.6500
Resistance – $1.1000 and $0.8640.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/04/27/osmo-price-analysis-is-the-osmo-price-in-recovery-mode/