Osmosis Price Analysis: Will OSMO maintain above $0.96


  • OSMO/USD is confronted with resistance level of R1 at 1.38 dollars.
  • 24-hour trading volume for Osmosis is hovering at $62,622,481.00.
  • Osmosis is presently valued at $1.59
  • The price of Osmosis has fallen by -1.93% in the previous 24 hours.

25 April 2024 : In this article we will walk you through Osmosis price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Osmosis, Is OSMO a good investment? Osmosis support & resistance levels etc. But before diving deep into the OSMO technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,383,236,290,777. The total trading volume stands at $82,011,431,686. Bitcoin shares 53.41 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $64,652.68 level after an upward movement of 0.99%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1 percent reaching to $3,162.48 during the previous 24 hours.
While publishing this blog, BNB traded at $613.28, following a price change of 1.29% within the same time frame. SOL the native coin of Solana is down by -1.03 and currently trading at $146.06. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Osmosis Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Osmosis (OSMO)

OSMO Resistance Levels OSMO Support Levels
Resistance Level 1 $1.38 Support Level 1 $0.96
Resistance Level 2 $1.58 Support Level 2 $0.73
Resistance Level 3 $1.81 Support Level 3 $0.53

Osmosis Performance

The current Osmosis price is $1.59, with a trading volume of $62,622,481.00 in the past 24-hours. Currently, OSMO is down by -1.93% since yesterday with a market capitalization of $847,079,025.00 USD.

Osmosis Price Analysis

OSMO price analysis for 25 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Osmosis.

Moving Averages Price Indicator
Simple Moving Average (10) 1.16 Buy
Exponential Moving Average (10) 1.17 Buy
Simple Moving Average (20) 1.13 Buy
Exponential Moving Average (20) 1.14 Buy
Simple Moving Average (50) 1.22 Buy
Exponential Moving Average (50) 1.22 Buy

While OSMO’s Williams %R indicator is at -31.574 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The relative Strength Index (RSI) indicates that the OSMO coin is trading in overbought phase, as RSI is at 72. The OSMO/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market.

Conclusions

Osmosis has few recovery chances and might continue testing immediate resistance level of $1.38 in the coming days. While the gradual bullish movement in the overall cryptocurrency space can keep OSMO investors hopeful.