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- After making huge gains throughout the daily price chart, the Oasis Network price is now experiencing corrections.
- ROSE Crypto is trading above 20, 50, and 100-days Daily Moving Average.
- The pair of ROSE/BTC is at 0.000004393 BTC with an intraday drop of 5.37%.
Over the daily price chart, the price of Oasis Network has increased significantly. The token has gained greatly throughout the daily price chart, but is currently in a slump as a result of pressure from short sellers. To return to the higher level, ROSE cryptocurrency needs to draw in more customers. To allow ROSE currency to ascend toward the top range, bulls must push themselves to the utmost in the meantime. To allow the token to retake the daily price chart, ROSE bulls must accumulate.
Oasis Network’s price is currently estimated at $0.1012, and over the past 24 hours, it has lost 8.71% of its market value. The intraday trading session saw a 34.47% decline in trade volume. This demonstrates that bears are capturing the token and dragging it down. Volume to market cap ratio is 0.2196.
The price of ROSE is attempting to climb higher than the daily price chart. For the token to surpass the chart, a sizable number of buyers are required. However, the volume change is below normal and in the bears’ favor for ROSE. To give ROSE currency the momentum of an upswing, volume must push in the direction of bulls.
What do Technical Indicators suggest about ROSE?
To move higher than the daily price chart, the price of the ROSE currency has to attract buyers. Technical signs point to the ROSE coin’s downward trajectory.
Relative Strength Index showcases the downtrend momentum of the ROSE coin. RSI is at 68 and is returning from overbought territory. MACD exhibits the bearish momentum of the ROSE coin. The MACD line is returning towards the signal line for a negative crossover.
Conclusion
Over the daily price chart, the price of Oasis Network has increased significantly. The token has gained greatly throughout the daily price chart, but is currently in a slump as a result of pressure from short sellers. To return to the higher level, ROSE cryptocurrency needs to draw in more customers. However, the volume change is below normal and in the bears’ favor for ROSE. Technical signs point to the ROSE coin’s downward trajectory. The MACD line is returning towards the signal line for a negative crossover.
Technical Levels
Support Levels: $0.085 and $0.075
Resistance Levels: $0.1080 and $0.116
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
