The Osmosis crypto continues to exhibit weakness on the charts, with sellers exerting significant pressure in recent trading sessions. Furthermore, the chart structure favors the bears, and the price continues to form doji candles, which shows a fight between bears and bulls.
At the time of writing, the Osmosis crypto trades at $0.3321 with an intraday gain of 0.45%. Buyers are making efforts to gain traction in the market, but they were only able to secure a few critical levels of support. Intraday trading volume also declined by 15.55% to $2,339,403. Moreover, the OSMO price chart suggests volatility in the following sessions.
The Osmosis crypto is trading in a downtrend on the daily charts and has underperformed in the past few months. Furthermore, the technical indicators continue to signal bearishness, with no signs of a bullish reversal or bounce as of now.
Technical Analysis of Osmosis Crypto Price in 1-D Time frame
At the time of publishing, Osmosis crypto (USD: OSMO) is trading below the 50 and 100-day SMAs (simple moving averages), which are not supporting the price trend.
However, if selling volume adds up, then the price might conquer supporting SMAs by making lower highs and lows. Hence, OSMO price is expected to move downwards giving bearish views over the daily time frame chart.
The current value of RSI is 33.51 points. The 14 SMA is above the median line at 26.30 points which indicates that the Osmosis crypto is bearish. The MACD line at -0.0204 and the signal line at -0.0229 are above the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the OSMO crypto price.
On the 4-hour charts, the OSMO price is currently under the control of the sellers, and buyers are not able to surpass the range of neutrality. The price action indicates that sellers are persistently pushing back the bulls below the 50 EMA.
The relative strength index (RSI) curve is near 49, indicating a neutral outlook. The MACD is also giving a neutral signal, and both the moving averages converge, which suggests that a significant move can be seen in the upcoming sessions.
Summary
Osmosis (USD: OSMO) technical oscillators also support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the OSMO crypto price. Osmosis price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.
Technical Levels
- Support Levels: $0.2925 and $0.2249.
- Resistance Levels: $0.4208 and $0.4884.
