The OZO token has maintained a strong momentum even in the face of the recent market downturn observed in the crypto market at the beginning of October. September saw the highest decline in crypto spot trading volumes, shaking up investor’s trust. However, the OZO token has managed to keep its head above the water, with only minor fluctuations of -2.04% in the past week.
Technical analyst Andrew Thrasher says that knowing where the marginal buyer decides whether or not to purchase due only to minor price changes may come into play. His analysis indicates the areas where potential buyers might step into the Bitcoin market to manage a selling pressure ranging from $4 billion to $7 billion. This selling pressure refers to the amount of assets that could be sold, which the market must absorb without disturbances. Thrasher’s method aids in forecasting market stability, meaning managing sell-offs, maintaining balance, and preventing drastic price fluctuations. Market stability is oncoming as most analysts believe Bitcoin might soon correct its prices, boosting the altcoin market higher up.
The OZO token remained stable amidst the recent changes in Bitcoin’s price. Even when the altcoin market is making massive swings due to unexpected factors like a Fed rate cut, selling Bitcoin tokens, and postponing the Mt.Gox settlement plans to October 31, 2025. OZO stands strong at a $0.2317 trading price against USD, while only a 2% volatility rate has been observed for the token.
For market sentiment, attention turns to external factors such as inflation concerns and the November elections in the United States. A new U.S. president could be bullish for Bitcoin and help fulfill OZO’s possible upside movement. Some might challenge the stability of younger assets, but OZO is set to rise the ladder. Coupled with OZO’s low volatility and the predicted bullish momentum for the crypto industry, OZO is all set for an upward movement. However, investors who worry about further price downticks for Bitcoin can lock up their money in OZO, given the relatively stable progression the token has shown, even in the face of a market-wide price dump.
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