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- 1 Osmosis crypto price is trading below the key moving averages showcasing the weakness in the trend.
- 2 OSMO price is stuck between the 100 and 200-Day EMA levels.
Osmosis stands as a pioneering DEX within the Cosmos network, a constellation of independent yet interconnected blockchains communicating seamlessly via the IBC protocol.
It extends its offerings to include assets from Ethereum and Polkadot through cross-chain bridges. Transitioning from Balancer-like pools, Osmosis is adopting a concentrated liquidity framework to enhance the efficiency of trades and liquidity management.
As an autonomous appchain DEX, Osmosis wields comprehensive command over its blockchain infrastructure, surpassing the capabilities of typical DEXs constrained by their parent chains. This autonomy has birthed innovations like Superfluid Staking, bolstering the security of the Proof-of-Stake mechanism. Here, OSMO tokens locked in liquidity pools contribute to network security while accruing staking incentives.
Moreover, the flexibility inherent to appchains has facilitated the creation of a protected transaction mempool with threshold encryption, aiming to significantly diminish the prevalence of detrimental MEV activities on the platform.
Technical Analysis of Crypto
The OSMO price prediction suggests that OSMO cryptocurrency has the potential to rebound from its current position and reach the upper level. To initiate this recovery and break out of the current consolidation phase on the daily chart, OSMO crypto needs to attract more buyers.
In the previous trading sessions, the price tried to break the upper levels but failed. Currently, OSMO cryptocurrency is awaiting a strong upward momentum to move toward the distribution phase on the daily chart.
The signal line and the MACD line are about to give a bullish cross. This highlights the buying presence and bullishness in the trading price of the crypto.
The RSI is also indicating strength on the chart as its value has inclined to the 44.15 level followed by an incline above the 14-Day SMA.
OSMO Crypto Price vs Volume Analysis
The volume and price graph displayed that the trading volume has decreased from $86 Million to $31 Million in the last 12 days and the price has also declined. In the last few days, the price has melted tremendously but the price is expected to bounce back in the short term.
OSMO Crypto Social Dominance vs Social Volume Analysis
The social dominance and social volume santiment charts have decreased for the last few months which means the awareness and information on social media like X, Instagram, and Telegram have decreased. Suppose the social dominance and social volume graphs increase then it may affect the price positively.
Summary
OSMO price prediction is a rebound above $0.2083. It suggests if Osmosis crypto gets buyers to support it attain the upper levels. The technical analysis suggests that the Osmosis price is reversing upward and the bullish momentum might continue in the coming months.
Technical Levels
Support Levels: $1.2083
Resistance Levels: $1.9566
Disclaimer
It’s important to note that the views and opinions presented in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading stocks carries inherent risks, and readers should conduct their research before making any financial decisions.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
