ROSE Technical Analysis: Growing Bullishness Teases Range Breakout
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Let us move ahead to read about ROSE technical analysis.
Past Performance of ROSE
The ROSE coin price action shows a long consolidation range after the downfall experienced in the past month. The coin price consolidates for almost two weeks now, between the 100 and 50-day EMA. However, the recent growth in the underlying bullishness and the 5% growth in the past 24 hours increase the possibility of an upside breakout.
ROSE Technical Analysis
The ROSE coin price action shows it resonating close to the $0.32 horizontal level as the price grows gradually. Therefore, the rising uptrend with the gradual rise in the buying pressure teases a potential breakout shortly.
The crucial Simple Moving averages show ROSE price maintains an overall bullish trend as it trends above the 100 and 200-day SMA. However, a bearish crossover of the 20 and 50-day SMA, attracts even more sellers in the market.
The rising slope in OBV indicator suggests the current consolidation as an accumulation phase in the market. Thus, indicating a better probability of bullish breakout.
The MACD indicator shows the MACD and signal lines are on the verge of providing a bullish crossover. Therefore, this crossover in the bearish territory gives extra confirmation to long traders.
In conclusion, the technical indicators support the price action for an upside breakout from its consolation.
Upcoming Trend
If ROSE technical analysis shows the price giving a breakout and daily candle closing above the $0.35 mark, the crypto trader can expect a strong directional move to the $0.488 mark, indicating a 35% growth opportunity.
The technical chart indicates the overhead resistance for alt is $0.35 and 50-day SMA. and on the opposite side the support level is $0.3 and 100-day SMA.