Osmosis Price Shot up 26%; Will the OSMO Token Price Hold $1 Mark?

• 1 Osmosis price prediction tells us that the OSMO crypto is getting ready to participate in the 2024 bull run.
• 2 The OSMO price surged 26% in the last trading session and gave a breakout of the $0.8000 hurdle.
• 3 The EMAs in the Osmosis crypto displayed a golden crossover.

Osmosis price prediction is highly bullish for 2024 and suggests OSMO might participate in the 2024 bull run. It regained the $1.00 level and buyers are trying their best to hold the recent gains.

The OSMO price surged 26% in the last trading session and displayed a massive breakout. Buyers succeeded in taking control over the $0.8000 level supply zone, which triggered the positive sentiment and fueled the rally.

Moreover, in the recent upward move the price also gave a breakout of the $1.00 barrier, which attracted the attention of investors.

Meanwhile, the buying volume also increased and the price followed the same direction. It showcases that some big players might have injected their money and are expecting an outperformance in the coming months.

The 50-day and 200-day EMAs are sloping upward and displaying a golden crossover. The price is sustaining above the EMA and rising gradually, which confirms the uptrend.

At present, OSMO price is racing toward the YTD high. So, it will be interesting to see how the price reacts on the higher levels.

Currently. Osmosis price is trading at $1.0294 with an intraday decline of 4.41%. In the last 24 hours, the trading volume increased by 172% and the volume to market cap stands at 19.37%.

Osmosis Price is Near YTH High; Will it Rise Further?

Source: OSMO/USDT daily chart by Tradingview

Osmosis price prediction suggests the rally in this token has just begun and more scope for upside is open.

The OSMO token price showed a surprising up move and formed a giant bullish candle. The buyers look more active and aggressive and they will try their best to break the YTD huddle at $1.2590.

If the buyers succeed in breaking out of the $1.2590 level, it might trigger the next phase of the rally. However, if the Osmosis price faces rejection, it might retrace back to the EMA.

OSMO Price Near To Overbought Territory; What Next?

OSMO price is forming a bullish pattern on a multiple time frame chart. The price looks mildly overstretched and near to the overbought territory. So, minor profit booking or short-term retracement may trigger at any time from the higher levels.

If the Osmosis price retraces back to the EMA, new participants may come forward to show a bounce. Therefore, it’s better to search for opportunities to build longs and stay with the trend.

Conclusion

Osmosis price prediction stays bullish for the next few months and suggests OSMO may participate in the upcoming bull run.

The analysis suggests that as long as the price holds the $0.8000 level, the buyers will remain active and continue their dominance. Therefore, the probability of sustaining a $1.00 level remains high.

Technical levels

• Resistance levels: $1.2590 and $1.4000
• Support levels: $0.8319 and $0.5868

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.