menuIcon
$ 88,016.8
BTC
$ 88,016.8
1.00 %
$ 2,065.11
ETH
$ 2,065.11
-0.28 %
$ 0.7674
ADA
$ 0.7674
1.12 %
$ 630.75
BNB
$ 630.75
-1.00 %
$ 144.23
SOL
$ 144.23
1.23 %
Vikram
Apr 25, 2022
by Vikram

ROSE Technical Analysis: Will Bears Retake $0.20 Level?

ROSE
ROSE coin price shows the $0.22 support zone cracking under intense selling pressure after multiple bearish strikes. Will the downtrend halt at $0.16?

Key technical points:

  • ROSE prices crack below the $0.22 mark.

  • The death cross gains a bearish spread.

  • The 24-hour trading volume of Oasis Network is $132 Million, marking a 45% rise. 

    • Past Performance of ROSE

    ROSE price action shows a falling channel pattern after creeping under the 50 and 200-day EMA, accounting for a downfall of 23% last fortnight. Moreover, the recent fall of 6.74% forms a bearish engulfing candle to break below the crucial support zone close to $0.22. 

    TradingView Chart

    ROSE Technical Analysis 

    ROSE prices continue the downtrend under the $0.22 support zone and threaten a freefall below the $0.20 mark. Furthermore, the increased trading volume increases the possibility of a bearish continuation to the $0.16 mark.

    The crucial daily EMAs maintain a bearish alignment with the death cross, gaining spread and increasing the selling influence. 

    MACD Indicator: It is evident that the MACD and the slow line split into the negative zone and maintain the bearish alignment. Thus, the bearish trend intensifies the negative histogram and suggests a buying opportunity.

    RSI Indicator:  The RSI values are continuing to decline within the 14-day SMA influence and then move towards the boundary of oversold. Thus, the indicator exhibits a solid bearish trend movement.

    In a nutshell, the ROSE technical analysis shows a potential trend continuation to the $0.16 mark. 

    Upcoming Trend 

    ROSE coin price breaks below the crucial support zone near $0.22 as sellers overtake trend control and hammer the $0.20 psychological mark. Hence, the increased selling pressure teases a bearish continuation to the $0.16 mark, which will account for a fall of 20%.

    Resistance Levels: $0.22 and $0.25

    Support Levels: $0.16 and $0.14

    Follow us on: News
    Oasis network ROSE
    ROSE Technical Analysis: Will Bears Retake $0.20 Level?
    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.

    Top Picks