ROSE Technical Analysis: 160% Growth Potential
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At the moment, sellers have been able to lower the price only to the middle line of the growth channel and test the range of $0.225. This liquidity range is interesting because, in the period from September to November 2021, buyers could not take it under control. It was the $0.225 range that slowed down the growth trend of buyers. The test of this range on low volumes and "peaceful" non-aggressive candles shows the absence of a large seller in the ROSE market. This fact gives the right to consider a positive scenario - the formation of a new growth wave with the final target of $0.6. However, there is no certainty that buyers have already gained enough of their positions in the local consolidation of $0.225-$0.315.
Therefore, the probability of returning the price to $0.225 is quite high. This will be a good chance for conservative investors to buy ROSE with low risks. We will consider an alternative scenario in the ROSE market and the continuation of the price fall to $0.1 only after breaking and fixing the price range of $0.225.
Technical Analysis Of ROSE On The Daily Timeframe
Analyzing the movement of the ROSE price on the daily timeframe, you can see a clear growth wave, moving within the trend channel. The critical point for the end of the local growth trend is $0.257. If, in the case of the beginning of the correction, buyers do not prove the ability to keep this mark - we will expect a second test in the range of $0.225. But, the daily timeframe can more accurately determine the liquidity range that buyers are passionate about. If you pay attention to the daily candle from 24 February, you can see that even high trading volumes could not conquer the range of $0.206-$0.213.
As we can see, after 24 February, the ROSE market jumped and a new attempt to take control of this range of sellers failed. Therefore, in the event that buyers lose control of the $0.257 mark, we will expect the ROSE price in the range of $0.206-$0.213. At the time of testing, this range will be a good chance to buy ROSE with low risks. The main target of the medium-term investment is $0.38.
The ROSEBTC Price Is Ready To Fly Up
The weekly ROSEBTC price chart gives us even more positive signals. As we can see, buyers have kept the price of ROSEBTC in the range of 0.00000563 for several weeks. 6 weeks of trading at low volumes in the liquidity range - means the total weakness of sellers and the willingness of the price to turn. Our main scenario is the growth of ROSEBTC by 50% in a pulsed way. It is difficult to say how strong the resistance will be near 0.00000930. Thought, the change of initiative in the ROSEBTC market is noticeable to the naked eye.