After a trend reversal in the second half of 2021, the Oasis Network ROSE price maintained its price movement along the uptrend line. The recent flip just above the trend line indicates the tendency of the asset to leap long without falling to the bearish trap yet again. The current surge appears to be pretty strong and even if the price slides down, it may not again revisit the trend line until a massive sell-off breaks out.
Oasis Network(ROSE)/USDT Technical Analysis at a Glance
The first fortnight of the year 2022 was exceptionally bullish as the ROSE price went on to hit its ATH at $0.59. Soon after that, the asset fell into a deep bearish well which drained more than 50% of its value in no time. Since then the asset was waiting for an opportunity to flip from the bearish trend and hence maintained a consolidated price movement for some time. Since the beginning of the present month trade, the Oasis network is undergoing a notable uptrend and is very close to hitting the immediate resistance levels.
|Short-Term||The ROSE price appears to have utilized all its strength to slice through the downtrend and hence may get exhausted for a while, undergoing a slight interim pullback|
|Mid-Term||The asset remained stagnant for a pretty long time and is currently attempting to go test higher levels. The asset could continue with the upward trajectory for some time and eventually may drop to some extent|
|Long Term||After a gigantic fall, the ROSE reversed the trend and may continue surging high as the buying pressure has started to mount since the early trading hours|
Additional Read: Crypto Taxation Guide Budget 2022
Oasis Network(ROSE) Technical Indicators & Pivot Levels
|Technical Indicators||Value(1Hr / 1D)||Action (1Hr / 1D)|
|Relative Strength Index(RSI)||64.68 / 51.14||Buy / Neutral|
|MACD(12,26)||0.008 / -0.007||Buy / Buy|
|ADX(14)||35.07 / 18.46||Buy / Buy|
|ATR(14)||0.00801 / 0.04592||Less Volatility / Less Volatility|
|Pivot Levels||Short Term||Long Term|
Additional Read: Oasis Network Price Prediction
The ROSE price is extremely bullish in both time frames. While there is a chance of an interim pullback in the short term, in the long term, the asset appears to have just begun going parabolic. The RSI in the STF has hit the upper levels and plunged but could be only for a short time, however, in the long term, the RSI is following a notable upward trajectory. On the other hand ATR, volatility indicator is displaying the asset being less volatile in both time frames.
The MACD is showcasing a decent buying volume accumulated in STF where both the possibilities of continuing with the same trend or a slight pullback, are seen. Whereas in the HTF, the MACD has just let out a huge ‘Buy’ signal and a significant amount of buying volume is expected to accumulate that may uplift the price to a great extent. Yet, the ADX that shows the strength of the rally is bullish in both time frames, pointing towards the rally may continue with its upward trajectory.
Oasis Network price is currently testing the 50-day MA in the HTF while having found strong support above the 200-day MA in both time frames and also the 50-day MA in STF. As the 50-day MA in daily time frame is tested successfully then the ROSE price is expected to range high to test the immediate resistance. Once cleared these levels then a notable uptrend may get ignited yet again that may escort the price close to its ATH.
Oasis Network(ROSE)/USDT Technical Analysis for the Week
The Oasis Network price kickstarted the present month trade on a bullish note and successfully gained more than a 20% jump in the first few days. As the technicals are pretty bullish, the ROSE price is expected to maintain a strong upward trajectory for the next 2 to 3 days and where-in the price could slice through the consolidation and trade above $0.44. However, at this point, the sellers may extract their profits causing a slight pullback in the price, yet it may be a short-lived one.
Source: Tradingview Date: 05-02-2022 Time: 01:45pm
- The ROSE price is trending within a parallel channel for a pretty long time, however, since the current day trade, the price is testing the upper resistance of the channel
- Once the asset breaks through the channel, a notable influx of buying volume may be expected which may uplift the price to the next resistance levels
- However, as the market sentiments are slowly turning bullish, the price is also expected to gear up with huge bullish momentum and go high to test the strong resistance levels
- Finally, with the resistance being cleared, the asset may reignite with an uptrend and eventually head towards its ATH and the possibility of forming a new ATH appears imminent.
Oasis Network(ROSE)/USDT Technical Analysis for Today: 05 February 2022
Despite the start of the month being bullish, the asset also underwent a notable pullback. However, the asset flipped the downtrend quickly and continued hovering towards the north. The ROSE price continued to follow a decent uptrend since then and could maintain a significant rise throughout the weekend.
The ROSE price is currently $0.366 with a jump of 6.92% compared to the previous day’s close. The trading volume also increased by more than 72% compared to the previous day and the market cap is more than $1.2 jumped more than 6.92% in the past 24 hours.
Where & How to buy Oasis Network(ROSE)
Investing in Oasis Network(ROSE) or Bitcoin is very easy in CoinDCX. You need to just download the CoinDCX App on your smartphone. Enter the required details like your name, mail-id, bank account details, etc. After the bank verification is done which takes usually a few minutes, fund your wallet and start with your trade simple!!
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