ROSE Price Jump Eyes $0.1315 Break For 30% Upside
The post ROSE Price Jump Eyes $0.1315 Break For 30% Upside appeared first on Coinpedia Fintech News
With the broader market under slowdown, as the selling pressure grows, the ROSE price trend swims against it. The bullish reversal in the Oasis Network token gains momentum with a surge in demand.
As the altcoin end of the correction phase turns into a bullish rally, will the token price surpass the overhead resistances? On a bullish note, our ROSE price prediction bolsters the bull run possibility to the psychological mark of $1 this year.
Rounding Bottom In ROSE Price
With increased buying pressure, the ROSE token price bounces from the $0.080 support level. The bounce back leads to a bullish trend reversal in the Oasis Network token and reclaims the $0.10 psychological mark.
Further, the boom in the token price brings the market cap closer to the billion-dollar mark. Hence, the sentiments around the altcoin are improving. In the daily chart, the altcoin shows a rounding bottom reversal with a neckline at the $0.1315 resistance zone. This coincides with the 50% Fibonacci level, making it a high supply zone.
Hence, a bullish breakout of the 50% Fibonacci level could lead to a massive jump in the ROSE token price. Currently, the ROSE price trades at $0.12305 with an intraday gain of 1.86%, driving the 30D jump to almost 50%.
Technical Indicators:
DMI Indicator: The bullish alignment of the VI lines and the rising ADX line bolsters the ongoing recovery rally.
EMA: The 50D and 200D EMA are ready to regain the positive alignment with a golden crossover.
Will Oasis Network Continue The Bull Run?
If the recovery rally in the ROSE price continues, the breakout of $0.13152 will signal a buying opportunity to the sideline traders. A breakout rally in the altcoin can reach the 78.60% Fibonacci level at $0.1606, a 30% upside.
Related Posts
