ROSE Technical Analysis: Will ROSE Drop To $0.060 Support?

The ROSE price shows a bullish failure to break above the 100-day SMA resulting in a downtrend eyeing the bottom support of $0.060. Key Technical Points: The ROSE prices went down by 9.55% in the last 24 hours. The price action shows multiple higher price rejection candles due to high selling pressure at $0.086. The 24-hour trading volume of Oasis Network is $90 million, indicating a drop of 50%. Past Performance of ROSE The ROSE prices showcased a significant inflow last week amid the US FED interest hike announcement, as it rebounded from the $0.042 support level. The resulting rally displays five consecutive green candles, registering an 84.3% gain. The bull run at breakneck speed hit the overhead resistance of $0.086 and the 100-day SMA resulting in deceleration with higher price rejection candles. Source – Tradingview ROSE Technical Analysis The ROSE chart showcased long-wick rejection candles at $0.088, indicating the buyers are exhausted from the sudden rally. Thus, the coin price triggers a minor correction which has tumbled the price 11.3% down to the current level of $0.078. Despite the bearish reversal from the 100 SMA, the bullish influence grows over the 50 SMA resulting in a positive turnaround. The RSI slope reverted from the overbought level neckline bolsters the requirement of a correction phase. However, if the indicator line sustains above the midline despite a correction, it would indicate the market sentim...