OASIS ROSE - Trendline support with next price target of $0.57
ROSE fell down -41% after being rejected at the low $0.40s, while the crypto and stock market suffered FUD from Omicron. The drop however is far from the -62% it had in it's previous large correction. This may indicate a more macro bullish trend for ROSE as it looks to go $1.00 and beyond.
ROSE is sitting on the cusp of its support along an upward trendline with multiple touchpoints. If the trendline holds, we should be looking at a retest of resistance coming in at $0.36 and $0.42. But as it stands, ROSE is under immense selling pressure, so more downside is still possible.
The $0.42 level appears quite hefty, and I suspect there are a lot of big bag hodlers dumping here. 43% of ROSE's supply originally went to Backers and Contributors, so I suspect that is part of what is keeping ROSE from having a faster move up. Their coins are worth a lot of money.
If ROSE is able to get through $0.42, my next price target would be about $0.57. The last two runs up were almost precisely the same measured move, so it's very possible it may repeat this again.
ROSE is sitting on the cusp of its support along an upward trendline with multiple touchpoints. If the trendline holds, we should be looking at a retest of resistance coming in at $0.36 and $0.42. But as it stands, ROSE is under immense selling pressure, so more downside is still possible.
The $0.42 level appears quite hefty, and I suspect there are a lot of big bag hodlers dumping here. 43% of ROSE's supply originally went to Backers and Contributors, so I suspect that is part of what is keeping ROSE from having a faster move up. Their coins are worth a lot of money.
If ROSE is able to get through $0.42, my next price target would be about $0.57. The last two runs up were almost precisely the same measured move, so it's very possible it may repeat this again.
3d art director and crypto hodler