Key technical points:
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.
Source-Tradingview
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.
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