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- 1 ROSE token price is decisively upheld above the 20-day EMA mark.
- 2 Buyers have acquired stability and are looking to reach $0.7000.
ROSE, the powering token behind Oasis Network, attained momentum and has mounted over the 20-day EMA mark. Moreover, the ROSE broke out above the trend line barrier of $0.4500. Afterwards, the ROSE token soared above the bars.
The token has approached the neutral trajectory amid fresh bullish pressure. Additionally, the token surpassed the round mark of $0.5000, the crucial resistance mark, which is now a support zone. ROSE token is accumulating gains and is ready to reach the swing highs of $0.8000. The token surpassed the 38.2% Fibonacci retracement zone and is close to the 50% zone above the mid bollinger band.
The live price of the ROSE token is $0.0701, with an intraday gain of 4.36%, showing neutrality on the charts. Moreover, the trading volume increased by 7.21% to $38.27 Million, while the market cap is $105.14 Million. Analysts have maintained a neutral rating and suggest that the ROSE token has the potential to reach $0.08000 by the end of 2023.
Will ROSE Token Surpass the Barrier of $0.07500?
On the daily chart, the ROSE token price is trading beyond the 20-day EMA mark and illustrates the bullish dominance. From the start of 2023, the ROSE token has been at the highs of $0.08000, but during the mid, the token started accumulating gains and retested the lows of $0.03700. The ROSE token has regained momentum and is close to the yearly high of $0.8590. However, buyers must surpass the immediate barrier of $0.08000 to extend the buying momentum.
The RSI curve stayed in the overbought zone and formed a positive divergence, suggesting that the token will skyrocket soon. The convergence of the MA line with the signal line indicates the end of profit booking, and buyers will soon break out above $0.07500.
Weekly Charts Exhibits Buying Momentum
On the weekly chart, the ROSE token price climbed above the 50-day EMA and is close to the 100-day EMA, which witnessed buyers’ accumulation in the past trading sessions. Meanwhile, the token is on the verge of a breakout near $0.07200, which, if surpassed, ROSE token will spike toward the 100-day EMA mark near $0.08000.
Summary
ROSE token has acquired momentum and surpassed the 20-day EMA mark above $0.06700, showing a rebound. However, the token is close to the neckline of $0.07000, which acts as a resistance. Meanwhile, the chart is favoring the bulls, and the price action suggests that the ROSE token will continue to outperform and may reach the swing highs of $0.08800 soon.
Technical Levels
Support Levels: $0.06900 and $0.06700
Resistance Levels: $0.07200 and $0.07500
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks 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.
