Oasis Networks(ROSE) is a blockchain platform that protects user data with secure computing. This allows developers on the blockchain to create decentralized applications (dApps) that are fast, safe, and private.
Oasis Networks was founded in 2018 by a certain group of computer science experts from UC Berkeley, led by a Dawn Song, which is a famous computer security and privacy researcher.
Oasis Networks(ROSE) is mainly used for building dApps that need user privacy and security. It does this by using secure computing technology, which lets sensitive data be processed on the blockchain without being revealed to anyone else. Also, Oasis Networks (ROSE) can be used to pay for network transactions and can be exchanged on different cryptocurrency platforms.
Technical Evaluation of ROSE/USD Chart
The Oasis Networks is displaying a slight downtrend on the chart and formed a channel between the trendlines support and resistance lines. ROSE price tried to bounce back several times but was not able to break the resistance level.
As of now, the ROSE price is struggling to stay near the upper trendline resistance, which is a vital obstacle. ROSE price needs more spikes in buying pressure to overcome this hurdle, or else. It could continue to decline.
On evaluating the chart on a daily time frame, the price of the ROSE/USD pair surged by 103.69% since the start of the year, which highlighted good performance. But, the ROSE price is trading under a range, and it requires a boost in price movement to break out of it.
The ROSE/USD could start a massive rally if it breaks the $0.081 level, which is close to the resistance trendline. It could lead to new peaks in the upcoming sessions. The ROSE/USD seems like bulls are harnessing the strength and assisting it to surpass above the hurdles and zoom towards new price levels from its current price. On the contrary, if it fails and slips, then it could decline to $0.060.
ROSE/USD is currently trading above the major exponential moving averages. If more buyers enter the market, the ROSE price pair could increase more by creating higher highs. Therefore, the ROSE price is likely to move upward and show a bullish outlook on the daily chart.
What ROSE Total Liquidations Chart Show?
According to the chart, From October 23rd to November 18th, there were some spikes in liquidations that indicated its good performance on the chart. Now in the last 24 hours, the long liquidations were $15.66K (traders who were betting on a price surge), and short liquidations were $222.74 (traders who were betting on a price decrease).
Moreover, the ROSE total liquidations chart highlights that the short liquidation is declining and the long liquidation is increasing steadily, meaning that more traders are betting on the ROSE price surge. This could make Oasis network more attractive to investors, which, along with the buying pressure, could drive up its price.
Summary
The price trend of ROSE/USD per the daily chart, EMAs, and total liquidation is positive. ROSE crypto is clearly bullish and could continue to surge higher in the coming sessions.
Technical Level
Support Levels: $0.060
Resistance Levels: $0.081
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts round the clock, and is a strong advocate for women in STEM.
Source: https://www.thecoinrepublic.com/2023/11/22/will-buyers-assist-oasis-networks-price-to-continue-rising-upward/