ROSE Price Recovered from Demand Zone; Will It Skyrocket Soon?

• ROSE crypto’s trading volume has increased by 230% in the past 24 hours.
• The ROSE price has surged by 20% in an intraday session.

Since October 2023, the ROSE price has performed positively and gained around 300% till the end of February. At the beginning of March, the Oasis network token’s price approached the $0.180 hurdle but failed to sustain.

The chart structure shows that the ROSE price has witnessed profit booking in March and April. The buyers have managed to defend the $0.0800 mark throughout April and May. The price has formed a base near the $0.0800 hurdle and has triggered a breakout from the key moving averages.

According to the technical indicators, the RSI has extended from an oversold zone to an overbought zone. Even in a consolidation phase, the MACD generated green histograms, and the MACD line and the Signal line intersected the Zero line positively. 

Is the ROSE Price Overpowered These Days?

Based on a source on X, the ROSE price has triggered a breakout from the resistance level of $0.1030. After the breakout, the price surged by 10%, and users booked a profit of around 60%.

$ROSE https://t.co/YkA8uHKRKb pic.twitter.com/CtDoARuB6j

— EliZ (@eliz883) June 4, 2024

In another figure, the Oasis Network price has been struggling below the $0.1000 hurdle on a 4-H timeframe. At press time, the crypto asset’s price has triggered a breakout from the consolidation phase, and bulls are dominating.

Price vs. Volume Analysis for the ROSE Crypto

Since the beginning of March, the trading volume has kept declining along with the price of the ROSE token. The trading volume has increased by 700% in a week, which has helped the price trigger a breakout from the key moving averages. For the past 2 months, the trading volume has not been able to reach the $40 Million hurdle. However, it has done that twice in the past week.

ROSE Price Has Formed a Descending Triangle Pattern on a 1-D Timeframe

The Oasis Network price has formed a descending triangle pattern on a daily time frame. It has triggered a breakout from the descending triangle pattern and remained positive till now.

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As per the chart structure and data, the price has surpassed the 100-day EMA with a good elevation in trading volume. Buyers may look for the last swing high if the price manages to sustain over the 100-day exponential moving average.

On the other hand, if the Oasis Network price slips back to the descending triangle, it may turn into a fake breakout. A fake breakout may trap most of the buyers, and due to their stoplosses, strong selling pressure can be seen.

At press time, the Oasis network price traded at $0.110 with an intraday gain of 3.16%. The market capitalization was $768.69 Million, and the 24-hour trading volume was $57.78 Million. 

Conclusion

The ROSE price has just recovered from the demand zone, and buyers seem to dominate. It has triggered a breakout from the descending triangle pattern and surpassed the 100-day exponential moving average. In the past week, the trading volume has surged by 700%, which has affected the price positively.

Technical Levels

The Oasis Network price may halt near the $0.140 and $0.180 levels if it gains bullish momentum. It is expected to take support at the $0.095 and $0.080 marks at the down move.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.