OSMOUSDT Ahead of a major bullish break-out
Osmosis (OSMOUSDT) is testing and marginally breaking today the Lower Highs trend-line that started on the May 05 High. With the 1D RSI on Higher Lows while the price has been on Lower Lows, i.e. a Bullish Divergence, we can finally see a major break-out. The next Resistance level in line and potential target is the 1D MA50 (blue trend-line) and the Lower Highs trend-line since the April 03 High.
If I had to make a projection that would be a rise towards the April 03 Lower Highs trend-line, then sideways consolidation or small correction until the 1D MA50 hits the April Lower Highs. If broken then the coin can test the March 01 Lower Highs and the 1D MA100 (green trend-line) at the same time.
At any point though, if the price after the consolidation/ correction breaks below the recent low/ Support, expect a sharp drop towards the 2.5 Fibonacci extension.
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If I had to make a projection that would be a rise towards the April 03 Lower Highs trend-line, then sideways consolidation or small correction until the 1D MA50 hits the April Lower Highs. If broken then the coin can test the March 01 Lower Highs and the 1D MA100 (green trend-line) at the same time.
At any point though, if the price after the consolidation/ correction breaks below the recent low/ Support, expect a sharp drop towards the 2.5 Fibonacci extension.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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