ROSE coin price is gaining bullish momentum with the 22% price jump resulting in the rounding bottom breakout. Can we see the price reach the $0.5 mark?

Oasis Network claims it is the first privacy-enabled, scalable blockchain. ParaTimes can use the Oasis network's confidential computing technology, such as secure encryptions, to keep their data private -- unlocking new uses and applications for blockchain.

After the establishment of a $160 million investment fund, a long-dormant layer 1 project with a focus on privacy is showing signs of life as Oasis Launches the Fund With Backing From Jump Capital and Others.

Let us now learn about the technical analysis of the Oasis Network.
<h2>Past Performance of ROSE</h2>
The ROSE coin's price jumps 22% in the past 24 hours resulting in a bullish engulfing candlestick in the daily chart. Moreover, the candle breaks above the $0.30 mark resulting in the rounding bottom breakout. 

However, for the bull run to continue, the price must sustain above the $0.30 in the daily chart. Hence, a higher price rejection later today can result in a sharp reversal.

<img src="https://s3.tradingview.com/snapshots/c/CpheymXH.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/CpheymXH/">ROSE/USD Daily Chart</a>
<h2>ROSE Technical Analysis</h2>
The $160m fund bears similarity to a program established by Avalanche last month, Blizzard, where a group of VC investors committed $200 million to early-stage projects. Both programs are part of a wider trend of layer 1 committing massive sums of money to bootstrap projects and traffic in an increasingly competitive landscape for Ethereum base layer alternatives.

Nonetheless, the launch brings new bullish energy to the ROSE coin price as the value jumps more than 50% in the past four days. However, Pivot Points indicates resistance at $0.40 and $0.5 levels and support at $0.27 and $0.23 levels.

The RSI indicator at 71.5% in the daily chart indicates the slope entering the overbought zone. Hence, the threat of a reversal increases as the slope enters the overbought territory. 

The MACD indicator shows the MACD line and seller’s line rising higher in a daily chart. Moreover, the distance between the lines is increasing. Hence, the indicator shows a buying opportunity.
<h2>Upcoming Trend</h2>
The Oasis Network <a href="https://www.cryptoknowmics.com/news/binance-lists-oasis-network-with-three-trading-pairs/">has nearly</a> a thousand developers, node operators, ambassadors, enterprise partners, and almost ten thousand members active in global social media channels.

The uptrend in the daily chart shows the high possibility of the ROSE coin price reaching the $0.50 mark. With the increasing trading volume and the bullish price action, traders can shortly line up.

ROSE Technical Analysis: Uptrend Gains Momentum With the Rounding Bottom Breakout

ROSE coin price is gaining bullish momentum with the 22% price jump resulting in the rounding bottom breakout. Can we see the price reach the $0.5 mark?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;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.

ROSE Technical Analysis: Uptrend Gains Momentum With the Rounding Bottom Breakout

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