The Osmosis (OSMO) market has been trading in an upward trend over the course of the previous 24-hours, which indicates that the bulls have gained some ground in terms of momentum in the price. At the time of publication, the price of Osmosis had increased by 12.01% and was trading at $0.997.
Read CRYPTONEWSLAND onInvestors and traders are also motivated by the fact that OSMO Market Cap has increased by 11.39% to $490,247,987 while the market volume has increased by 2343.99% to $149,800,225; as a result, they may expect to see this price rise in the coming hours.
The Moving Average Convergence Divergence (MACD) line is providing support for the bullish run by displaying a reading of -0.079. Furthermore, the MACD line is located above the signal line, which indicates that this bullish run may continue in the short-run. Since the values of the trajectory histogram are in the positive region, which implies that there is more buying pressure than selling pressure, hence the bullish sentiment may continue, and bulls might even set new highs for the OSMO price.
The expansion of the Bollinger Band (BB) provides additional evidence that this bullish long run may continue into the foreseeable future; as a result, investors and traders may choose to enter the market. The readings of the upper band are currently at 1.567, while the readings of the lower band are currently at 0.719.
At the moment, the ADX indicator shows a value of 44.8. This is above the zone that shows neutrality. This indicates that bulls currently have control of the market and that the current bullish trend may continue into the near future.
At the moment, the Relative Strength Index (RSI) is showing a reading of 43.08, which is neither overbought nor oversold. This means that bulls are likely to continue to have the upper hand for the foreseeable future. Since the indicator is also going down, this should be a warning to investors that there may be a bearish mood coming at some point in the future.
As a result of the bulls’ dominance in the OSMO market, a bullish sentiment is likely to persist over the long term. If investors are considering entering the market, now might be the best time for them to do so because the bullish sentiment is likely to continue in the future.
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