Here’s Why the ROSE Coin’s Jump of 12% Is The Beginning Of A Major Rally

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Brian Bollinger The formation of a rounding-bottom pattern in the ROSE coin’s price over the last six months has been evident. This pattern shows a U-shaped recovery, which encourages steady growth in assets. With sustained buying, the coin price recently broke through the $0.073-$0.072 resistance mark. Here’s how this breakout may influence the future price of Oasis Network Coin.advertisementKey Points: Under the influence of the cup and handle pattern, the Oasis Network price breakout from the $0.073 barrier hints at a potential rally of 50% growth
Bullish crossover between the 100- and 50-day EMA encourages ROSE for continued recovery
ROSE’s intraday trading volume is $225.1 Million. This indicates a 113% gain.
Source: TradingviewThe rounding bottom pattern is based on a downward trend in prices as sellers dominate the market. The selling pressure gradually decreases and the price starts to settle and take on a rounded shape. As the pattern progresses buyers start to enter the market and the price begins to rise. The pattern is complete when the price breaks the resistance level at the top or the rounding shape. ROSE coin prices have risen 133% since January 1st to $0.078. Today’s altcoin surged 12.15%, a huge breakout from the monthly resistance at $0.073-$0.072. Trending Stories The prices will likely return to $0.073, which would validate the price sustainability of the Oasis Network coin above previously reclaimed levels. This could provide traders with long entry opportunities. This pattern could also cause the prices to rise 50% to reach $0.116 neckline resistance. Technical IndicatorRSI – A daily RSI slope that is high in bullish territory indicates strong bullish market sentiment. AdvertisementEMAs: The ROSE price is receiving dynamic support from the rising 20-day EMA slope. ROSE Coin Price Intraday Levels – Spot rate: $0.073
Trend: Bearish
Volatility is high
Resistance level: $0.08 and $0.095
Support level: $0.073 and 0.06
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