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Vikram
Apr 11, 2022

ROSE Technical Analysis: $0.26 Retest Threatens A 15% Fall To $0.20

ROSE
ROSE coin price retests the rising channel fallout increasing the chances of a downtrend continuation below the $0.20 mark.

Key technical points:

  • The ROSE price action is ready to fall under $0.25.
  • The market price trades below all the crucial EMAs. 
  • Finally, the 24-hour trading volume of Oasis Network is $68.84 Million, marking an 8.22% rise.
  • Past Performance of ROSE

    ROSE coin price action showcased the $0.25 breakout rally taking the shape of a rising channel pattern in the daily chart. However, the recent rejection from the resistance trendline broke below the support trendline and the psychological barrier of $0.25. Moreover, the price action shows post-retest reversal as the selling activity increases as the $0.25 support level cracks.

    TradingView Chart

    ROSE Technical Analysis 

    ROSE coin price completes the retest phase and continues the downtrend with the fallout of the $0.25 level. Hence, traders can find selling opportunities at the current market price with a 20% downside potential.  

    The crucial daily EMAs maintain a bullish alignment, but the rising bearish influence increases the possibility of a death cross. Hence, the EMAs are ready to regain the bearish alignment as the bearish power grows.

    RSI Indicator: The RSI slope maintains a downtrend with the breakout of the 14-day SMA and retests the 50% breakout to continue the approach towards the oversold zone. Hence, the indicator reflects a high possibility of freefall to the $0.20 mark.

    MACD Indicator: The rising trend of the negative histogram after the bearish crossover reflects a boom in selling pressure. Moreover, the downtrend in the MACD and signal lines gains momentum and approaches the zero line.

    In a nutshell, the ROSE technical analysis highlights the downtrend possibility to the $0.20 mark. 

    Upcoming Trend 

    ROSE coin price experiences a surge in selling activity with the reversal from the $0.25 mark reflecting a post-retest reversal. Hence, selling opportunities are available at the market price with the possibility of a $0.20 breakout. 

    Support Levels: $0.20 and $0.16

    Resistance Levels: $0.26 and $0.30

    ROSE Technical Analysis: $0.26 Retest Threatens A 15% Fall To $0.20
    Vikram is a technical analyst with several years of experience in the crypto market & Indian Equity and F&O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

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