- Oasis Network (ROSE) stays stable above a crucial support zone, hinting at upward momentum.
- ROSE fell sharply from $0.1426, reflecting broader market caution.
- Oasis Network is trapped in a triangle pattern, and ROSE eyes target $0.135, $0.180, and higher.
Oasis Network (ROSE) has been showing resilience despite the broader market turmoil, holding steady above a crucial support level as it prepares for a potential breakout. However, the token’s recent performance has been far from smooth. ROSE experienced a significant pullback following a sharp market sell-off triggered by Bitcoin’s recent decline, which sparked investor concerns. The token reached a high of $0.1426 and fell sharply thereafter.
Over the past week, ROSE has dropped by 3.46%, and the situation has been even more concerning over a longer time frame. In the last 30 days, the token has lost nearly 21% of its value, reflecting the broader downtrend in the market.
At the time of writing, Oasis Network’s price is $0.082341, with a 24-hour trading volume of $81.73 million. Its market capitalization is $552.81 million, and the token holds a market dominance of just 0.02%. Notably, the price has declined by 8.80% in the past 24 hours.
Oasis Network (ROSE) Eyes $0.135 Breakout Amid Uncertainty
From a technical perspective, ROSE is trapped within a symmetrical triangle pattern. This formation typically indicates a consolidation phase before a breakout, but the token faces rejection at the descending resistance line on the weekly chart. It is holding above the key support zone, but the price remains below the 50-day moving average (MA50), indicating the struggle for upward momentum.
Traders and investors are waiting for a decisive move in either direction. A strong bounce from the support zone could trigger a breakout, with potential targets at $0.135, $0.180, $0.275, and even as high as $0.380 if the momentum shifts. However, the market’s uncertainty and fear, particularly linked to Bitcoin’s fluctuations, continue to present challenges.
While ROSE’s technical setup is suggesting a possible breakout, the broader market sentiment remains cautious. Bitcoin’s sharp drop has left many investors on edge, resulting in widespread fear and hesitation to invest heavily in altcoins like Oasis Network. As such, ROSE’s next move largely depends on broader market stability and investor confidence.
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