- More than 95% decline from the highs the token price touched.
- Trading below its listed price.
- The token price is near its 52-week low value.
How the Rose Token Price Has Performed Till Now?
The ROSE coin price was listed near $0.7 and for some time the price consolidated near the listing price range. It then showed a wonderful upward move and gave a return of more than 400 % from the listing price. The gains didn’t last for a long time and the coin price started falling. It eroded almost 93% of the wealth of investors and it has been facing difficulty in rising since then and consolidating at bottom levels.
Rose Coin Technical Analysis on a 1 Week Time Frame
As visible in the chart, the ROSE token price is moving toward the lower levels and has strong support near the level of $ 0. 040. It is making the falling wedge pattern whose resistance is standing near the levels of $0.05.
The 50 and 100 EMAs are also falling along with the price which is a bearish signal. The coin price most probably can’t face rejection from the trendline because the 50 EMA is also standing at the same levels.
Technical Analysis on a 1-Day Time Frame
The price is trading at the bottom levels and trying to go upwards but there is so much resistance above the price. The 1st resistance is at the recent high of $0.042, the second resistance is at $0.047, and the third resistance is placed at $0.054.
If we talk about the support, the 1st support is placed near the recent lows of $0.038, and the second and final support is placed near the $0.033 level.
All three EMAs are sloping downward and that is also a bearish sign.
Technical Analysis on a 1-Hour Time Frame
As we can see in the chart, the coin price is trying to form an inverted flag and pole pattern, where the bottom was made near the $ 0.038 level and now the resistance stands near the $ 0.041 level. The support level is $ 0.039. Since it is a bearish pattern, the chances are the price will see a further downfall from this level if it breaks below the line.
EMA currently stands near to the coin price and it is flat, which means the price movement is still not clear.
Past Performance
1 WEEK – – ( 6 .25 ) %
1 DAY – – ( 15. 26 )%
1 YEAR- – ( 37. 73 ) %
Conclusion
As we can see, the coin’s performance in different time frames tells the same story. So, it is very difficult for the coin to move up in the short term until and unless the coin price witnesses an unrealistic rally.
There are only two supports at current levels, but there are so many hurdles that will restrict the price from going up.
On a broader time frame, the EMA is also showing a bearish signal.
Technical Levels
- Resistance – $ 0.0438
- Support – $ 0.038
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.