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- 1 The ROSE crypto has portrayed a sign of resurgence as the price bounced back from a critical level.
- 2 ROSE demonstrated good performance last month, and over the last three months.
Oasis Networks (ROSE) is a blockchain platform that fosters blockchain developers to create fast and secure dApps that safeguard user data.
Oasis Networks (ROSE) is specifically utilized for developing dApps that focus on maintaining user privacy and security.
It utilizes security tools that authorize the blockchain to manage sensitive data without uncovering it to others. It can also be utilized for online earnings and transfers between various cryptocurrency platforms.
The consensus layer in a blockchain operates on PoS and is secured by a decentralized network which consists of validator nodes driven by independent nodes. The consensus layer is distinct from the execution layer, which is substantiated by fraud proofs.
On the Oasis Network crypto’s Cipher ParaTime, nodes utilize a safe computing technology called as TEE, which functions as a black box for executing confidential smart contracts in a secretly confidential ParaTime.
The data is encrypted before it stirs into the black box from the smart contract, decrypted, and then processed by the smart contract, and later encrypted again before it comes out of the TEE. It guarantees that the data is kept secret and not revealed to the node operator or to the app developer.
Is Oasis Network Geared For A Massive Spike?
ROSE started advancing around October last week from $0.0400 and reached a high of around $0.14000. The resistance was high and the ROSE price took a dip and formed a support at $0.09300.
ROSE crypto has displayed a sign of revival as the price bounced back from a critical level of around $0.09300 on the charts. It declined 2.15% in the last 24 hours and was trading at $0.11905 at the time of writing.
It seems like the Ocean Network is poised for a spectacular rally, as it prepares to smash the resistance level by consolidating and soaring to new heights from the current support zone.
This ROSE crypto is showing bullish traits and it could achieve more growth. It has demonstrated good performance in the past month, and in the last three months, by 16.19% and 46.19% respectively, indicating a reliable upward trend.
Therefore, if the demand for the ROSE token surges, the asset price could turn around from the base level. The next goal for the ROSE price is to reach $02000 with resistance at the $0.14000 level.
The ROSE coin is showing strong sustenance gestures as it remains above major EMAs, indicating bullish strength. However, if this coin’s price fails to stay above the $0.11000 level, it could decline further.
Summary
ROSE has revealed good performance last month, and the last three months. Ocean Network is poised for a stunning rally, as it gets ready to wreck the resistance level by consolidating and soaring to new heights from the current support zone.
Therefore, if the demand for the ROSE token surges to its peak, the asset price could turn around from the base level. The next goal for the ROSE price is to reach $02000 and clear the resistance level of $0.14000.
Technical Levels
Support Levels: $0.11000
Resistance Levels: $0.14000
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
