The OSMO/USDT chart indicates a strong bullish move, with the price up 22.82% in the past 24 hours. The current price of $0.5952 sits above the 7-day moving average ($0.4788) and the 25-day moving average ($0.5333), signaling bullish momentum.
Key Levels:
Support Level: $0.5333 (25-day MA)
Resistance Levels: $0.6423 (99-day MA) and $0.7850
A break above the $0.6423 resistance could trigger the next rally.
Signals:
Breakout Potential: The sharp rise in trading volume suggests strong buyer interest. A close above $0.6423 may confirm a bullish breakout.
Trend: Price moving above short-term and mid-term averages supports further upside.
Strategy:
Buy: If price sustains above $0.6000 with strong volume, targeting $0.6423 and higher.
Caution: Set a stop-loss below $0.5333 to manage risk.
Sell or Wait: If the price fails to break $0.6423, traders can wait for a retracement to re-enter near support.
Traders should monitor volume and momentum indicators to confirm breakout strength.
