The price movement of OSMO has demonstrated significant volatility, moving through a largely bearish trend for the most part of the year. But in the last three months, the cryptocurrency has shown signs of a strong comeback and is now entering a phase of strong recovery.
Currently, a wide range of technical indicators are available to traders, each of which presents a complex picture of the possible future paths for the OSMO price.
Together, these signals create a mosaic of information that help traders traverse the complicated environment in which they must predict and react to market movements.
Osmosis Price Explodes In The Weekly Timeframe
Osmosis is a well-known player in the cryptocurrency ecosystem and one of the main forces shaping the market environment. Its native token, OSMO, has seen a significant increase, crossing the $1 threshold and hitting its highest worth since July.
At the time of writing, OSMO was trading at $1.46, up 14.1% in the last 24 hours, and tallied a commanding 76.3% rally in the last seven days, data from Coingecko shows.
OSMO price action in the last 24 hours. Source: Coingecko
Osmosis’s successful merger with Umee, another prominent Cosmos network with assets exceeding $17 million, is partly responsible for the company’s strong performance.
The token has experienced a remarkable rise, rising by almost 380% from its lowest point in 2023, in accordance with the merger’s plans.
Osmosis currently trading at $1.4645 territory. Chart: TradingView.com
With assets over $142 million, Osmosis holds a strong position, according to data from DeFi Llama.
Furthermore, in the last 24 hours, the platform has enabled transactions totaling more than $64 million in token value, demonstrating its significant impact and activity in the decentralized finance domain.
A number of the Cosmos ecosystem’s constituent parts are thriving. Notably, THORChain has become one of the biggest players in the world of decentralized exchanges, or DEXs, and has emerged as a major participant in this space.
OSMO seven-day price action. Source: CoinMarketCap
Will OSMO Reach $2?
With a solid total value locked (TVL) of more than $915 million and available liquidity of more than $336 million, THORChain has cemented its place as a major participant in the independent financial market.
The cumulative validator bond has risen significantly, exceeding the remarkable $578 million mark. Concurrently, the unique swapper…
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