The OSAK price has soared by 150% in July, breaking through numerous key resistance levels.
As momentum builds, OSAK could enter the top 100 largest cryptocurrencies if it continues rallying at this pace.
Let’s examine the charts and see how likely this is.
OSAK Breaks Out
The daily time frame analysis shows that OSAK fell by over 90% after its October 2024 high.
Nevertheless, the downward momentum weakened in March, leading to a bullish OSAK trend reversal that is still ongoing.
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Momentum indicators support the breakout. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are increasing.
The RSI is above 70, while the MACD is positive. Since there are no bearish divergences, the most likely OSAK price prediction is bullish.
OSAK Price Prediction
Zooming in on the upward movement since March, it is clear that the OSAK price started a five-wave upward movement (green).
If this is the case, it is currently in wave three, usually the sharpest of the bullish waves. This explains the parabolic shape of the rally this week.
Wave three could end at the $0.00000030 horizontal resistance area, triggering a slight decline.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
