Oasis Network price analysis: ROSE to retest $0.314 resistance as bulls inflate the price to $0.302

TL;DR Breakdown

  • Oasis Network price analysis is bullish today.
  • Support for ROSE/USD is present at $0.264.
  • Resistance for ROSE is found at $0.314.

The Oasis Network Price analysis is bullish as the token price has been increasing since yesterday. At the moment, ROSE is the highest gainer among the top 100 cryptocurrencies. ROSE bulls have made some good increments in price during the last 48 hours, as the price function has been upwards, and ROSE came from 0.231 to $0.302 in just two days. This is the highest gain ROSE has observed after being on a downslide since its price peaked at $0.416, marking a record high on 21st November.

ROSE/USD 1-day price chart: bullish flight helps ROSE gain significant value

The 1-day price chart for Oasis Network price analysis shows the bullish momentum has been quite powerful as the token is trading hands at $0.302 at the time of writing and the next resistance for bulls is present at the $0.314 level, which bulls have to overcome. The token has gained more than 15 percent value over the past 24 hours and has gained a value of 16.6 percent over the past week. The trading volume has increased by 42 percent, and the market cap has also improved by 15.4 percent over the last day, which has resulted in scoring 89th position on the top 100 cryptocurrencies list.

ROSE/USD 1-day price chart. Source: Tradingview

The volatility is high for ROSE/USD as the volatility indicator is covering a larger area on the price charts. The upper end of the Bollinger bands is trading at the $0.400 mark, and the lower band is present at the $0.205 mark representing support for the token. The mean average line of the indicator at $0.303 represents the immediate resistance level for bulls to encounter, so the token may observe a little selling pressure at the current price point.

The relative strength index (RSI) has come up into the upper half of the neutral zone after trading in the lower half of the neutral zone for a few days. The RSI is rising on a steep angle and is present at index 53, indicating high demand for ROSE among the traders.

Oasis Network price analysis: Recent developments and further technical indications

The 4-hour Oasis Network price analysis shows that the token has shown good performance today despite the price breaking out downwards and remaining downwards for the first four hours today. But after that, the bullish momentum reignited, and the token started to rally high. The price oscillation remained comparatively slow in the following four hours, but later in the day, bulls gained enough momentum, and some steep jumps in price were observed.

ROSE/USD 4-hours price chart. Source: Tradingview

The volatility on the 4-hour chart started to increase when the price shot past the upper limit of the Bollinger bands to the $0.288 level, and the Bollinger bands started to diverge. Now the upper band has traveled up to $0.300, below the price level representing support for the token price, and the lower band has traveled down to the $0.215 mark. The RSI is nearing the overbought region as it is trading at index 65. The RSI is maintaining its upwards curve, hinting at more buying activity.

Oasis Network price analysis: Conclusion

The Oasis Network price analysis concludes the token has turned bullish again after following a downtrend for the past couple of days. The trend line seems to be changing from today onwards. We expect ROSE to continue covering the upwards range today, and it may retest the $0.314 resistance later today or in the next trading session.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Arnold Kirimi

Written by Arnold Kirimi

Arnold is a crypto and blockchain enthusiast. A communications expert with interest in hard-hitting journalism, he is always on the hunt for the latest events in the cryptocurrency world. He is inspired by what Bill Gates said, “Bitcoin is a technological tour de force.”