- Osmosis is priced just above the key demand area.
- The crypto price is remaining below the red moving line of the EMA ribbon indicator.
- OSMO related to the BTC pair fell by 1.09% to 0.00004595 satoshis.
Osmosis Coin price drops below the red zone of volatility due to a volatile market. OSMO Coin has declined by a further 24% so far this month. Buyers also had a bad experience in November, where they lost around 35.5% of the cost.
Bitcoin slipped from its 30-day high, which dragged the crypto market down this week. Price action shows selling on the rose, in fact, the bears move each swing much lower than the last. Subsequently, Osmosis Crypto price is reaching towards the demand zone. Buyers are expecting a price rise in this area.
Osmosis price is remaining below the red moving line of EMA Ribbon indicator. Although, buyers are barely trying to reverse the OSMO trend and push higher. Meanwhile, OSMO coin against the USDT pair is trading at $0.774 mark at the time of writing. Today, crypto is looking sideways after yesterday’s recovery.
Buyers have to struggle while reversing the trend because bears have strong dominance on OMSO coin. As of now, the $0.70 zone stays lower than current price, and bulls will try to defend at this point next week. Conversely, the ideological round level of $1.0 is ready to interrupt the bullish trend ahead.
Trading volume suggests volatility this week because buyers witnessed sharp selling. But last night volume dropped 61% at $6.4 Million. Thus OSMO concerning the BTC pair is down 1.09% to 0.00004595 Satoshis.
On the daily price chart, the RSI indicator stays at a lower level, showing the negativity in OSMO coin. Similarly, MACD falls in the negative region when histograms form lower-lows.
Conclusion
The Osmosis coin (OSMO) is trading just above the demand zone. Recovery may occur after support retest so buyers have to wait for positive indication before taking any bullish call.
Support level – $0.70
Resistance level – $1.0 and $1.4
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas 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/2022/12/18/osmosis-price-prediction-buyers-lost-key-hedge-level-whats-next-for-osmo/