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Vikram
Mar 15, 2022
by Vikram

ROSE Technical Analysis: Sellers Test The $0.20 Integrity

ROSE
ROSE coin price experiences an increase in selling activity as the downfall cracks beneath the $0.20 support level and approaches $0.16.

Key technical points:

  • ROSE coin price fell 25% last fortnight.

  • The MACD indicator gives a bearish crossover. 

  • The 24-hour trading volume of Oasis Network is $886 Million, marking a 6% rise. 

    • Past Performance of ROSE

    ROSE coin price cracks into the $0.20 support level as the selling pressure increases in the overall market. As a result, the coin price has decreased by 25% in the last two weeks resulting in multiple bearish candles. The altcoin maintains the overall downtrend and aims to reach the next support level after facing rejection from the 200-day EMA.  

    TradingView Chart

    ROSE Technical Analysis 

    ROSE coin price might reach the $0.16 mark shortly as the downtrend gains momentum after the support level breakout. However, closing below the $0.20 mark is necessary for the upcoming bearish trend. 

    The 50-day and 200-day EMA are on the verge of giving a death cross with the falling trend of the 100-day EMA. Hence, the upcoming death cross will result in a rise in selling pressure. 

    RSI Indicator: The RSI slope shows the sideways trend developing into a downfall that may shortly enter the oversold zone. Hence, crossing below the 30% mark will mark a selling point.  

    MACD Indicator: The MACD and signal lines are on the cusp of giving a bearish crossover as the lines show saturation. This will put an end to the bullish histograms and start a bearish trend.

    In a nutshell, ROSE technical analysis shows a growing underlying bearishness that might shortly result in a retracement to $0.16.

    Upcoming Trend 

    The substantial growth in the underlying bearishness influences the upcoming trend of ROSE coin price with the certainty of the death cross. Hence, the falling trend might continue to reach the $0.16 mark.

    Resistance Levels: $0.23 and $0.25

    Support Levels: $0.18 and $0.16

     

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    ROSE Technical Analysis: Sellers Test The $0.20 Integrity
    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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