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Vikram
Apr 5, 2022
by Vikram

ROSE Technical Analysis: Retest Rally Breaks Above $0.30; Should You Join The Rally?

rose
ROSE coin price shows the $0.25 retest rally surpassing the $0.30 mark as buying pressure grows. Will the uptrend reach the $0.40 mark?

Key technical points:

  • ROSE prices have decreased by 0.41% in the past 24 hours.

  • In addition, the prices surpass all the crucial daily EMA.

  • Finally, the 24-hour trading volume of Oasis Network is $213 Million, marking a 0.79% rise.

    • Past Performance of ROSE

    On April 1st, the ROSE price completed the retest of the 200-day EMA with a long-tail bullish candle formation. Followed by the retest, the buyers regained trend control and created a bullish engulfing candle of 13.89% on April 3rd. Hence, resurging bulls indicate a high possibility of uptrend continuation above the $0.30 mark.

    TradingView Chart

    ROSE Technical Analysis 

    The growth in buying pressure drove the ROSE coin price higher by 20% last week as it hits the $0.3 mark. However, the bears hindered the retest rally close to the $0.25 mark, resulting in a short-accumulation the previous week.

    The crucial daily EMAs (50, 100, and 200-days) avoid a death cross with the 50-day EMA reversal and increase the chances of a bullish crossover with the 100-day EMA. Moreover, the price trend continues above all the crucial daily EMAs.

    RSI Indicator: The RSI slope flattens slightly below the overbought boundary in the daily chart after the recent reversal from the 14-day SMA. Nonetheless, the remarkable rise over the weeks reflects a solid underlying bullishness.

    MACD Indicator: The MACD and signal lines avoid a negative crossover as the bulls possess trend control and surpass the $0.30 mark. Hence, the continuing uptrend in the lines showcases a boom in purchasing power.

    The ROSE technical analysis portends a bullish growth above the $0.30 mark to reach $0.40 as the reversal rally gains momentum.

    Upcoming Trend 

    The ROSE coin price reflects an increased swiftness in the buying volume, resulting in the uptrend continuation. That is why bullish traders can expect the uptrend to reach the $0.40 mark in the upcoming week.

    Support Levels: $0.25 and $0.20

    Resistance Levels: $0.35 and $0.40

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    ROSE Technical Analysis: Retest Rally Breaks Above $0.30; Should You Join The Rally?
    Vikram
    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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