- Oasis price declined by 30% over the past 3 weeks.
- Trading volume dropped by 31% over the past 24 hours at press time.
Since October 2023, ROSE broke out from the consolidation zone and surged by more than 300% till March 2024. However, investors prefer to book profits as displayed on the technical chart.
ROSE lost around 54% during the profit booking sessions in March and April. Moreover, it formed a base at $0.0800 and gained bullish momentum in June. The price triggered a breakout and retested the 200-day EMA, but the sellers were strong enough to drag the price below.
According to the technical indicators, the MACD generated a golden crossover with the signal line, and the histograms were green. RSI developed a bullish crossover with the RSI-based moving average.
End of Consolidation?
Soon Consolidation of $ROSE will end. pic.twitter.com/QEDcrI4Iws
— Bandhan Sharma Maverick Trader (@wickhunterr) July 1, 2024
A source on X claimed that ROSE was consolidating since mid-2022 on a weekly time frame. After a strong consolidation phase, bulls showed interest and defended a major support level. The price over the $0.0800 hurdle may invite buyers for a massive pump.
Liquidity Below 200-day EMA Grabbed; Massive Bullish Move Anticipated?
Rose crypto was trading at $0.096 at press time and had dropped by 4.81% over the past 24 hours. Market capitalization was $648.84 Million, and the 24-hour trading volume was $19.63 Million.
Oasis asset is a top 100 cryptocurrency in terms of market capitalization. The circulating supply was 6,713,599,876 ROSE, and the fully diluted market cap was 10,000,000,000 ROSE at the time of writing.
Since April, the digital asset price has struggled below the 20 day EMA. However, the buyers had failed to hold for a longer time. At press time, the Oasis price displayed weakness as it had engulfed the previous candlestick.
If ROSE crypto price fails to exceed the 200-day EMA, sellers may be eyeing a major support level of $0.0800. Strong selling pressure could be expected if the price trades below the $0.0800 mark.
On the other hand, if the digital asset price surpasses the key moving averages, it may extend to the $0.140 resistance level. If the price breaks out from the $0.150 mark after short-term consolidation; bulls may dominate further.
ROSE Price Shot Up Soon?
ROSE crypto is at a critical point, with the potential for a bullish move if the price surpasses the key moving averages. However, strong selling pressure may be seen if it fails to exceed the 200-day EMA. Monitoring the price movements closely will be important to make informed decisions.
Technical Levels
Oasis crypto price is expected to face resistance from the $0.135 and $0.180 levels. The price may take support at the $0.0800 and $0.0640 mark.
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.