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- The OSMO price has risen by 26% in a week and has surpassed the 20-day EMA.
- Osmosis price has dropped by 75% this year and has reached closer to an all-time low.
Osmosis (OSMO) price has witnessed sharp selling and declined by more than 70% this year. Sellers have dragged down the price to an all-time low and traded below the key moving averages. Moreover, the bearish trend seems to halt near the $0.3500 hurdle.
In Q4 2023, the OSMO price surged by more than 700% and reached a multi-year high. The bullish trend was interrupted near the $2 mark and displayed profit booking.
However, buyers attempted to dominate and trigger bullish momentum. However, sellers were strong enough and dragged the price below key moving averages.
Technical Analysis of OSMO Price Over 1-D Timeframe
When writing, the Osmosis crypto was trading at $0.427 which has dropped by 4.30% over the past 24 hours. The market capitalization was $293.73 Million and the 24-hour trading volume was $13.75 Million with a rise of 100%.
The technical chart suggests that the Osmosis crypto price has found the bottom near the $0.3500 level. Here, technical indicators like MACD and RSI have shown bullish signals. The price has exceeded the 20-day EMA which indicates the buyers’ interest.
The buying momentum in OSMO crypto might face difficulty in exceeding the $0.550 hurdle. If the digital asset price manages to overcome that territory, investors might be attracted. The involvement of investors may lead to a trend reversal.
The OSMO price prediction suggests a rebound and a recovery trend. Alternatively, if the Osmosis price starts trading below the $0.3500 mark, it could be a selling signal. Here, sellers may drag down to a new all-time low in a few weeks.
Turning to the technical indicators, the MACD has displayed a bullish crossover with the Signal line and has traveled to the positive zone. The RSI has generated a strong bullish divergence and has triggered a golden crossover with the RSI-based moving average.
Can Osmosis Price Gain 100% in a Few Months
CoinQTS (@CoinQTS) has tweeted that the Osmosis crypto price has the potential to perform well in the future. It has become the favorite coin among the investors.
$Osmo is Whales favourite coin, once 0.475 break we'll see straight 0.90 – 1.25 https://t.co/CVh2G4SwW1 pic.twitter.com/a64kUc04Ei
— CoinQTS (@CoinQTS) September 15, 2024
Based on chart analysis, once the OSMO price exceeds the $0.478 mark, it could approach the $0.90 and $1.25 levels. Hence, a successful breakout from the $0.475 mark may help OSMO investors acquire more than 100%.
Osmosis Price Behavior
The OSMO price has exhibited significant volatility, with both bullish and bearish trends. The recent rise in price and the bullish signals from indicators like MACD and RSI are encouraging for potential investors.
However, the resistance at the $0.550 level and the need to sustain above the 20-day EMA highlight the challenging nature of the current market conditions. If it drops below the $0.3500 mark, this could signal further selling pressure and a potential new all-time low.
Based on the additional information from X (formerly Twitter), the Osmosis crypto price has the potential to gain around 100% returns in a few months.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
