Bulls Got Knocked Out; ROSE Crypto Price Declined 22.16%

• ROSE price has given a breakdown from the $0.1080 support level.
• Technical indicators summary strongly suggests a negative signal in the current phase.
• The trading volume surged over 180% in the last 24 hours.

Oasis Network (ROSE) provides a next-generation foundation for Web3 and powers DeFi, GameFi, NFTs, Metaverse, Data tokenization and Data DAOs. It is a leading privacy-enabled and scalable layer-1 blockchain. Oasis Labs has partnered with BMW Group Genetica and others to build platforms and products that offer individual privacy protection, data governance, and responsible data use. The network uses a proof of stake (PoS) consensus mechanism to secure transaction confirmation.

ROSE Crypto Still Has Over 140% Positive Returns!

Early this year, the ROSE crypto price faced some negative drawbacks from the $0.1458 level. The cryptocurrency declined over 25% to the $0.0883 bullish point of interest (POI) in January 2024. However, the crypto captured massive attention from cruisers and traders in February 2024.

That month, the price surged over 50% from the $0.1002 level. Afterward, a negative rally was observed in the Oasis Network price from the $0.1865 level in March 2024. Consequently, the situation made market sentiments bearish, negatively impacting the current month.

Oasis Network has released 67.14% of tokens in circulation from the maximum supply. 6.71 billion ROSE tokens are currently circulating in the market. The maximum supply of tokens is locked at 10 billion. The entire diluted market capitalization of the network is assumed to be $1.00 billion. The current market capitalization stands at $671 million.

Price to Volume and Social Dominance Analysis

In early February 2024, the social buzz of cryptocurrency captured almost 0.72% of attention on social platforms. That left a positive impact on the Oasis price and volume. The social dominance has been dropping since then, currently at 0.22%. The trading volume is declining in the current sessions, but the price remained stable above $0.11.

Technical Analysis of the Oasis Network (ROSE) Price

The current price slipped below the critical exponential moving averages, reflecting bearish sentiments in the market price. The 50-day and 200-day can act as dynamic resistance for the price unless it rebounds back both the EMAs.

ROSE coin price faced resistance from the $0.1865 level. Since then, the price has reflected almost 50% of the opposing rally while breaking down the $0.1080 demand level. The current price is moving toward the $0.0883 support level. The price can fall to the $0.0706 support unless it closes above the $0.1361 level.

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The relative strength index (RSI) reflects a strong bearish momentum in the current phase. This indicates the sellers’ domination over the ROSE crypto price. The RSI is moving at 28.22 in the oversold region.

Summary

ROSE crypto price is performing below the key exponential moving averages. This reflects negative sentiments on the price in terms of technical aspects. The Oasis Network price faced intense selling pressure from the $0.1865 resistance. The crypto price is moving toward the $0.0883 support level at press time. The cost can fall to the $0.0706 support unless it closes above the $0.1361 level.

Technical Levels

• Resistance Levels: $0.1495 and $0.1865
• Support levels: $0.0883 and $0.0706

Disclaimer

The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.