When the the price fails to accompany many good News,.... "Osmosis"
Lets see the "News" and the "technicalis".
Osmosis (for newbies) is L1 interchain automated market maker (AMM) DEX power by the cosmos blockchain... The protocol allows users to trade, exchange, earn ... and holders of #Osmo will vote as well. Its current Market cap (MC) is around $850 M, ranked at 127th by MC, It's TVL = $191.2M, 24 hrs trading volume is $28M. There are 1B tokens as maximum supply and about 65% of them are currently circulating in the market. The remaining tokens will be released in the future, resulting in annual inflation rate around 10%.
As of the begining of this year, there have been frequent good news heard around the Osmo project. We heard that Osmo was "one of the top DEX/chains by number of active project developers". In this week another good news "Osmo being one of the 3 crypto assets that the Grayscale recently picked for actively managed funds for its costumers" These good news hadn't brought a price pump (as opposed to what we often see in crypto market). So, what's happening around Osmo? remains an open question.
On the other hand, the current states of its market looks as follows:
A. Average Intra-day trading price :$1.35, dropped by 5% in the past 24hrs.
B. Current support price is around $1.17 and it should break 1.6 resistance level in order to start a new bullish cycle.
C. Daily basis RSI (24) (relative strength index is 42, which indicates that Osmo is "oversold" and its likely for the current price to go up as buyers will come in.
D. MACD value is "Positive" since the past 4 days, meaning the over all trend is bullish.
E. SAR, as indicated by dot lines, since last 4 days the SAR line is below the price/bars, meaning bullish momentum is building.
Teea's thought: given the TA results, Osmo's price should go up in April, next few weeks (unless something bad happen and smashes the market). Current price range; fairly, gives us good buying opportunity.
Hence, could somebody say "Osmo is calm before the storm"?
