OSMO is a cryptocurrency token which is presently encountering a great selling pressure. As per the market analysis conducted, it looks like the token is likely to observe a further downfall unless it takes support from its current support level. The Social Engagement metrics and fees generated by the OSMO network have both observed a significant decrease in recent times. On the other hand, the bearish sentiments of the investors have observed sudden increase. The major resistance level of the OSMO token is set at $1.0000 and the current resistance at $0.8000. Its recent support point is near $0.6000.

The technical indicators of the OSMO token are also flashing alarming signal. The RSI line is showing a reversal from the oversold levels below 30 points. Its current value on the 14 SMA is at 37.36 points. Similarly, the stochastic trading is also below the oversold level and the %K line has crossed above the %D line. The combined cautious signal from the oscillators suggest that the price of the OSMO token will require high buyer’s support to make a bullish recovery.

Evidently, the OSMO token is in the danger zone and in order to make a strong comeback it will require strong support from its buyers. Moreover, it is essential that the bearish sentiments of the investors must experience a decrease. The recent dips in the OSMO token price indicates its potential to recover but only if it gets adequate financial backing. Investors should exercise caution while trading in the OSMO token by keeping an eye on the recent market trends.



Other News from Today