Osmosis Price Prediction:OSMO price in Recovery phase!

• Osmosis price is currently trading at $0.824 with an increase of +1.98% at the time of writing.
• The 24 hour trading volume has increased by 50.48%.
• The 24 hour low of Osmosis price is $0.7819 24 hour high is $0.828.

Osmosis price is in a consolidation phase ranging between $0.75 and $0.90 after making a low $0.75 level. The overall trend for osmosis is currently bearish as price made a high at $$1.60 and has been in a bearish momentum. 

The OSMO price on a daily basis is trying to break out from the consolidation zone if the bullish pressure prevails. If the daily candle can close above $0.82 level, investors  can see a confirmation for bullish sentiment in the market. 

There have been many rejection from the $0.76 level. The 24 hour trading volume has been increasing indicating bullish pressure in the market. On the other hand, if the OSMO price is able to break below the $0.75 level, investors can expect the price to reach $0.680 level. 

The OSMO price has recently crossed the 20 day EMA and faced rejection from the 50 day EMA at the time of writing. Osmosis has already gained much user attention and adoption in a short period of time. The bears might seem slightly exhausted but are believed to revamp with bearish trends. 

Technical analysis of Osmosis:

The RSI curve has crossed the 50 mark suggesting bullishness in the market. The RSI curve is above the RSI based moving average line and is currently at 54.74. RSI is still far away from the overbought zone which indicates there is space for bullish sentiment in the market. 

The Osmo price has crossed the upper band of the bollinger due to bullish pressure indicating that there is a chance for a pullback in the price in upcoming days. The bands have opened up as price tries to break out of the consolidation referring to high volatility in the market. The price on the lower level still seems to be in a very messy zone. 

The +DI is currently above the -DI indicating bullishness with an ADX of 31.41 which shows high bullish trend strength. The ADX is increasing gradually suggesting a bullish behaviour in the market in upcoming days. 

Conclusion: 

The Osmo price  is currently headed towards $0.90 level and if price can break $0.90 level investors can expect a correction move for the downfall of the price from the highs of $1.260. The current market structure and price action shows breakout from the consolidation zone in upward direction indicating a trend shift from bearish to bullish. The technical parameters are highly bullish on Osmosis price. The 4 hourly candsle has closed above the consolidation zone but investors should wait for the daily candle to close above the $8.20 level. 

Technical levels:

Major support: $0.765 and $0.680.

Major resistance: $0.90 and $0.94.

Disclaimer:

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.