Rose Price Prediction: Is Oasis Poised for a Bullish Blitz?
ROSE forms three consecutive bullish candles on weekly chart
The $ROSE token experiences a surge in buying pressure, prompting a rebound from the critical support level at $0.08000.
This rebound catalyzes a bullish trend reversal, propelling the #Oasis Network token above the psychologically significant level of $0.10000.
Upon examination of the daily chart, the altcoin displays characteristics of a rounding bottom reversal pattern, with the neckline situated at the resistance zone of $0.13250.
Notably, this resistance level coincides with the 50% Fibonacci retracement level, creating a formidable supply zone.
A bullish breakout above the 50% Fibonacci level as well as Neckline could trigger a substantial upward movement in the $ROSE token price.
According to Coin Gabbar analysis, If the momentum of the recovery persist, the altcoin's rally could target the 78.60% Fibonacci level at $0.16060, offering a potential upside of approximately 25%.
Conversely, failure to breach the neckline may result in a downward price movement, with notable support levels identified at $0.10000 and $0.08000.
KEY LEVELS :
RESISTANCE LEVEL : $0.15000-$0.18500
SUPPORT LEVEL : $0.10000-$0.08000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
