ROSE Technical Analysis: Exodus of Sellers Extinguish Positive Demand

ROSE coin price fails to sustain above $0.50 and falls to the horizontal level at $0.45. Will the $0.45 level collapse under high selling pressure? Oasis Network (ROSE) is a security-focused level one blockchain developed to promote the open economy of finance as well as a responsible and sustainable data economy that utilizes the Cosmos SDK. Oasis is a leader in applications that encourage security and privacy of data and hopes to enable the private, scalable Defi and to expand beyond traders to the market. It is able to achieve high speed and has a secure structure by separating the settlement as well as the consensus layers. Let us move ahead to read about Oasis Network technical analysis. Past Performance of ROSE The ROSE coin price shows a downfall of almost 15% in the past 72 hours resulting in the formation of multiple bearish candles in the daily chart. The higher price rejection is evident by the long wick formations in the daily candles indicating a rise in selling pressure. Furthermore, the 25% jump in the trading volume indicates the entry of more sellers into the market. ROSE/USD Daily Chart ROSE Technical Analysis The retracement in the ROSE coin price can be a retest of the bullish breakout of $0.45. However, the increased trend momentum and rising selling pressure undermine the possibility of a retest. Nonetheless, the horizontal level at $0.45 remains a crucial milestone in ROSE coin price action providing res...