The Oasis Network (ROSE) price signaled the end of its assumption phase when the buyers breached the overhead resistance of $0.38. The altcoin showcased 45% growth in the last three weeks and provided another breakout opportunity if the price sustains above $0.38.
- ROSE chart shows the morning star candle on the monthly time frame chart
- ROSE price provides a bullish breakout $0.3 psychological level
- The intraday trading volume in the Oasis Network token was $244 Million, indicating a 171% gain
On March 15th, the ROSE price retested the January bottom support at $0.2. The following bullish engulfing candle validated that the traders were accumulating at this dip and triggered a new recovery phase.
The rising bullish momentum drove the altcoin by 34%, hitting the $0.3 mark. The sellers attempted to stall the bullish rally below this resistance, resulting in a minor consolidation last week.
However, during the recovery phase, the buyers reclaimed a cluster of several EMAs(20, 50, 100) which supported the price by 14.4% on Sunday. This massive green candle sliced through the overhead ceiling and provided a weekly closing above $0.3.
Today, the ROSE chart shows a Doji-retest candle hovering above the breached resistance, with an intraday loss of $1.5%. If buyers defend the new flipped support during the week, the upside rally could surge 27.75% to $38.8.
However, the bullish thesis will be invalid if sellers force a candle closing below the 200-day EMA.
The downsloping 50-and-200-day EMAs are now moving sideways, indicating a considerable loss of downside momentum. Moreover, the rising 20-day EMA triggers a bullish crossover with 200 EMA, suggesting the buyers would gradually take the lead.
The MACD indicator was nearing a bearish crossover during last week’s consolidation. However, the breakout from $0.3 prevented the=is bearish signal and kept the bullish sentiment going.
- Resistance levels- $0.336, and $0.38
- Support levels- $0.3 and $0.26
- Whales Eye Litecoin Ahead Of Major Update, Here’s Why
- Just-In: Robinhood Now Supports Web3 Wallets And NFTs
- U.S. Is Winning Bitcoin Mining Race But China Still Not Out Of Picture: Report
- Stablecoin Meltdown: This Token Loses $7 Billion Within A Week
- Just-In: Polygon (MATIC) Releases Nightfall Mainnet Beta; Here’s Why It’s A Big Deal
- Ripple (XRP) Price Jumps Over 4%, Here’s Why
- Coinbase Cuts Down Hiring After Q1 Losses Hit $420 Million
- Shiba Inu (SHIB) Price Soars 6% In A Day, Here’s Why
- KuCoin Lists $UST Crisis Born Stablecoin $USDD; Details
- WOO Network Halts Terra’s LUNA Trading Just Hours After Relisting It
- Ripple Price Analysis: XRP Price Remains Pressured Below $0.45
- EGLD Price Analysis: Decreasing Volume Hints EGLD to Reverse from $75
- Cardano Price Analysis: ADA Price Prepares For 22% Jump; Are You Holding?
- Bitcoin Price Analysis: BTC Price Holds Above $30,000; Opportunity To Buy?
- Ethereum Price Analysis: ETH Price Erases Recovery Gains Towards $2,000
- Decentraland Price Analysis: MANA Price Sinks 10%; Are You Still Holding?
- Bitcoin Price Analysis: BTC Price Under Bear’s Spell; Is $26,000 On Cards Again?
- ETH Price Analysis: Consolidation Range Soon To Launch ETH Above $2250
- Bitcoin Price Analysis: Triangle Breakout Sets BTC Rally To $32000 Mark
- LUNA Price Analysis: Opportunity to Buy Cheap or A Bull Trap?