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.
