Osmosis price remains significantly elevated from its December lows of around $0.6721. OSMO is among very few coins sustaining massive gains despite the correction witnessed over the last seven days. After a 42% upswing in 30 days, Osmosis is trading at $1.0754 at the time of writing.

It is worth mentioning that OSMO has not been spared by the bearish wave traversing the crypto market, considering it rose to highs of $1.3914 in January, before correcting to its current market value.

Now bulls must secure higher support, preferably above $1.00 to prevent investor confidence from eroding further. Such support would allow sidelined investors to get on board the breakout to $1.60.

Osmosis Price Upholds V-Shaped Pattern but For How Long?

Osmosis price lost 60% of its value between November and December last year as the crypto market suffered in the aftermath of the implosion of Sam Bankman-Fried’s FTX exchange. OSMO hit extremely oversold conditions in late December, which called for a sharp recovery.

Osmosis price eased into a V-shaped recovery pattern that will likely propel it to highs around $1.6. Attempts to break above resistance at $1.40 failed with the 200-day Exponential Moving Average (EMA) (in purple) reinforcing the resistance.

If support at $1.00 holds, Osmosis price will have the chance to collect more liquidity before bulls stage another attack to disperse the seller congestion at $1.2, as highlighted in the lower yellow band.

The 100-day EMA (in blue) reinforces this support, while the 50-day EMA (in red) is in line to prevent the down leg from extending to test subsequent levels at $0.80 and $0.60. Despite the minor correction on the day, the Moving Average Convergence Divergence (MACD) indicator dons a buy signal.

If the MACD line in blue stays above the signal line in red, there will be no room for Osmosis to drop below $1.00. The most likely outcome would be a rebound from the same support level aiming for key targets at $1.20, $1.40, and $1.60, respectively.

Osmosis price appears strongly bullish in shorter time frames such as the four-hour chart. OSMO holds above all the applied major moving averages, starting with the 200-day EMA at $0.9502, the 100-day EMA (in blue) at $1.00, and the 50-day EMA (in red) at $1.05.

The 50-day EMA provides immediate support to OSMO as bulls focus on lifting the price above $1.1 and $1.2, respectively. Based on the outlook of the SuperTrend indicator, the path with the least resistance will likely stay on the upside.

Like a moving average, the SuperTrend overlays the chart. It also incorporates the average true range (ATR) in its calculations to gauge market volatility. A flip below Osmosis price implies the uptrend is intact.

As long as the SuperTrend trails OSMO on the chart, investors should not worry about declines taking precedence in the coming days. It would be prudent to keep long positions in OSMO intact ahead of the next bullish move not only to $1.6 but one that may close the gap to $2.00.

On the flip side, traders should tread cautiously knowing that the Moving Average Convergence Divergence (MACD) is about to flaunt a sell signal on the same four-hour chart.

The call to sell OSMO would manifest as the MACD line in blue moves beneath the signal line in red. Declines are likely to intensify as the momentum indicator generally drops toward the mean line.

A break under the 50-day EMA could validate short positions placed below it for possible profit booking at $1.00. With the 100-day EMA and the 200-day EMA in line to offer support, declines to $0.80 and $0.60 are unlikely to take place.

Osmosis Alternatives To Buy Today

Investors may want to consider other best altcoins to buy alongside side OSMO. We have selected several best crypto presales for 2023 with the potential to return above-average gains. Our team of experts reviews the cryptocurrencies for this list weekly to ensure you have access to crypto projects with a better risk-reward ratio.

Meta Masters Guild, a new play-to-earn environment built on the innovative Web-3 technology, is one such crypto coin. The project’s team believes it is well-positioned to chart the future for the best gaming crypto coin on the market.

Meta Masters Guild will debut with three beautifully crafted games: Meta Kart Racers, NFT Raid, and Meta Masters World. Users on this platform will be able to generate revenue in Gems, an in-game currency.

Gems can be exchanged for MEMAG, the Meta Masters Guild ecosystem’s native coin, and staked for additional benefits. Some players may prefer to utilize Gems to purchase NFTs and other in-game things.

Earning money in the Meta Masters Guild network is not restricted to gaming; members may also make money through content creation, in-game item supply, game development, and community giveaways.

Take your mobile gaming to the next level! ??

Play fun and addictive games with playable NFTs and earn rewards, stake, and trade.?⚔️

Don't miss out on the presale, buy $MEMAG tokens now! ⬇️https://t.co/SBqVjX5mWn#Presale #P2E #Play2Earn pic.twitter.com/H8zn2aymqb

— Meta Masters Guild (@MEMAGgames) February 7, 2023

Investors are currently booking positions in one of the best Web3 coins in a presale that has raised $3.6 million in a matter of weeks. The presale is, however, in stage 6, with 1 MEMAG selling for $0.021. Interested investors should act quickly before the price increases to $0.023 in the next and final round.

Visit Meta Masters Guild Now.

Related Articles:

• Hut 8 and US Bitcoin To Merge – How Will It Benefit You?

• Who’s Stuffing Bitcoin Under Their Mattresses?

• C+Charge Presale Stage 1 to End Soon After $783,000 Raised — Buy Today before Stage 2 Price Rise