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- 1 The OSMO coin price witnessed range-bound moves and is hovering below the $2 mark.
- 2 The intraday trading volume decreased by over 25%, revealing a low interest of investors.
The Osmosis coin (OSMO) price reflects consolidation and hovers near the 20-day EMA mark. Since the beginning of 2024, the coin has glimpsed range-bound moves and yet not reflected any bullish moves amidst the bullish market sentiments. It reveals a low interest of investors as well as a low demand for the coin.
At press time, the Osmosis (OSMO) coin price trades at $1.67 with an intraday drop of 1.52%, indicating neutrality on the charts. It has a monthly return ratio of 1.76% and 101.22% on a yearly basis. The pair of OSMO/BTC is at 0.0000244 BTC, and the market cap is $1.05 Billion. Analysts are neutral and suggest that the OSMO coin price may reflect a bounce and will soon cross the $2 mark.
Osmosis (OSMO) Price & Volume Analysis
The Osmosis coin (OSMO) price displayed rejection from the horizontal line of $1.90 and is witnessing consolidation on the charts. Following it, the trading volume kept lowering and fell over 50% to $47.30 Million in the last three trading sessions. The trend is neutral, and investors are not paying much attention to the coin, resulting in consolidation. The crypto price volume inflows keep decreasing with a decrease in price value, suggesting a negative outlook.
The derivative data suggested an increase of 3.27% in open interest and jumped to $956.90K, revealing a short buildup.
Price Volatility and Weighted Sentiments Imply a Negative Outlook
The coin witnessed low fluctuations, and the price volatility glimpsed a decline from its peak of 0.050 to 0.008937, which signifies a significant fall this week. Moreover, the total weighted sentiment value declined from 0.095 to 0.085, which meant a negative outlook. The overall data suggested an adverse view, and bullish signs were not preferred.
Osmosis Price Vs. Development Activity Analysis
The data suggests that the development activity keeps rising, whereas the price remains in a range, implying that the sellers have bound the coin price to gain momentum and tightened it in a narrow range. The development curve witnessed a rise of over 5% to 180, implying a positive outlook.
Social Dominance and Twitter Activity Overview
The above chart implies a drop in the social dominance data, which fell from 0.474% to 0.296%, a decline of over 40% in the last month. Additionally, from the start of 2024, Twitter followers’ activity kept decreasing and declined over 390% to 456, which implies a negative sentiment in the media and discussion reports on the social platforms.
Osmosis (OSMO) Price Witnessed Consolidation: What’s Next?
On the daily charts, the coin witnessed consolidation and persisted in hovering below the $2 mark, the supply zone. Moreover, the coin replicates a low trading volume and signifies a decline in investor interest.
The Relative Strength Index (RSI), a momentum indicator, replicates a neutral stance, and the curve stays near the midline of 50, conveying a negative crossover.
Summary
The Osmosis coin (OSMO) witnessed low trading volume and hovers in a narrow range close to the 20-day EMA support zone of $1.50. Moreover, the trend is neutral, and the coin is struggling to attain momentum, but due to a lack of investor interest, it has yet to cross the $2 mark.
Technical Levels
Support Levels: $1.50 and $1.30
Resistance Levels: $1.80 and $2
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
