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Cryptoknowmics 2022-08-18 09:20:29

ROSE Technical Analysis: Resting At $0.085, Bullish Reversal Awaits

The ROSE prices retrace to the $0.085 support level, retesting the bullish breakout and teasing a post-retest reversal to rise above $0.10. Key Technical Points: The Oasis Network price has dropped by 25% in the last week. The price action retests the bullish breakout of the $0.085 mark. With a market cap of $434 billion, the intraday trading volume of Oasis Network has increased by 4.18% to reach $55.57 million. Past Performance of ROSE The ROSE prices took a bearish reversal after failing to sustain above the $0.11 level resulting in a price drop below the 100-day EMA. Currently, the prices rest at the $0.085 support level, accounting for a price drop of 25% over the last week. However, the retracement comes as the retest of a bullish breakout increases the chances of a post-retest reversal. Source – Tradingview ROSE Technical Analysis The ROSE price chart shows the daily candle forming a Doji near the $0.085 support level, increasing the chances of a Morning Star pattern formation. Hence a potential bullish reversal can result in a price jump about the $0.10 psychological mark. Despite the price drop below the 100-day EMA, the price took support at the 50-day EMA close to the $0.080 mark. The daily RSI slope drops to the halfway line from the overbought zone, reflecting a phenomenal fall in the underlying bullishness. Moreover, the MACD indicator displays an increasing bearish cab between the fast and slow lines after the r...

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