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- 1 The ROSE crypto has displayed a sign of revival as the price bounced back.
- 2 This coin is rising steadily and strongly as it remains above major EMA’s.
Oasis Networks (ROSE) is a blockchain platform that enables blockchain developers to build fast, secure, and private business applications (dApps) that safeguard user data.
Oasis Networks (ROSE) is mainly used for creating dApps that need user privacy and security.
It achieves this by using security tools that allow the blockchain to handle sensitive information without exposing it to others. It can also be used for online payments and transfers between different cryptocurrency platforms.
The consensus layer is a blockchain that uses PoS and is secured by a decentralized network of validator nodes run by independent nodes. The consensus layer is different from the execution layer, which is verified by fraud proofs.
On the Oasis Network’s Cipher ParaTime, nodes use a secure computing technology called a TEE, which works as a black box for executing confidential smart contracts in a confidential ParaTime.
The data is encrypted before it goes into the black box with the smart contract, decrypted and processed by the smart contract, and encrypted again before it comes out of the TEE. It ensures that the data is kept secret and not leaked to the node operator or the app developer.
Is Oasis Network Ready for Another Spike?
The ROSE started advancing around October last week from $0.0400 and reached a high of around $0.7500. The resistance was high and the ROSE price took a pause at the same level.
This coin has displayed a sign of revival as the price bounced back from a critical level of around $0.06501 on the charts. It is experiencing a decline of 4.30% in the last 24 hours, trading at $0.08017.
It seems like the ROSE crypto is poised for a spectacular rally, as it prepares to smash the resistance level and soar to new heights from the current support zone
This coin is showing bullish traits and it can achieve more growth. It has demonstrated good performance in the past month, and three months, by 116.41% and 9.64% indicating a reliable upward trend.
However, if the demand for the ROSE Token remains high, the asset price could bounce back from the current level. The next goal for the ROSE price is to reach $0.09001.
The ROSE coin is rising steadily and strongly as it remains above major EMA’s, indicating bullish strength. However, if this coin’s price fails to stay above the $0.07500 level, it could decline further.
Summary
The ROSE crypto has displayed a sign of revival as the price bounced back from a critical level of around $0.06500 on the charts. It seems like this coin is poised for a spectacular rally as it is rising steadily and strongly as it remains above major EMA’s, indicating bullish strength.
Therefore, if the demand for the ROSE Token remains high, the asset price could bounce back from the current level. The next goal for the ROSE price is to reach $0.09001.
Technical Levels
Support Levels: $0.07500
Resistance Levels: $0.09000
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
