- Price of Oasis Network (ROSE) has decreased to $0.08568 in the past 24 hrs.
- ROSE has experienced a fall of about 20% in the past year. Crucial support levels exist at the region of $0.07856, $0.05018, and $0.04176.
- After a large token unlock, ROSE may see some continual downfall in the next few weeks.
The architecture of Oasis Network places a high priority on user privacy, facilitates data tokenization, and gives consumers safe management and monetization options for their data assets. Oasis Network’s feature set makes it essential for improving security and privacy in the Web3 and AI industries.
The native ROSE coin, which reflects the decentralized governance models in web3, allows several network operations, such as staking, governance, and participation incentives. High throughput and strong security are guaranteed by Oasis Network’s consensus method, which is essential for scalable and long-lasting blockchain applications in the web3 ecosystem.
The network also facilitates the development of DApps that give data security a top priority by supporting privacy-enhanced smart contracts. This advances the development of DeFi, metaverse, and web3 gaming projects.
Token unlock behind falling price aand huge volatility?
On November 18, the ROSE platform released 196 million ROSE tokens, valued at roughly $13.97 million, according to the Oasis Network’s vesting calendar. The reserve, core contributors, community members, project partners, and the foundation received tokens.
Since a token unlock adds to the market’s token supply, it is a fundamentally negative occurrence and leads to a fall in price at least in the short term. Community members, core contributors, and project partners are likely to cash in to avoid getting caught in the exit liquidity, even though tokens going to the foundation and reserve may be stored.
ROSE 1-day price chart. Pic Credit: Trading View
Oasis Network’s price may break the supply zone’s midline at $0.07856 in response to increased purchasing pressure, confirming the continuation of a bullish trend.
In a highly bullish scenario, ROSE’s gains might reach the peak of the $0.08572 area. This would represent a huge increase over the present levels. Next crucial levels to watch inlcude $0.095, $0.01, and $0.0116.
The RSI is notably aggressively sliding south, indicating that although bulls are still in charge, purchase power is slightly deteriorating. The weekly RSI is below 50 and but it is in an over sold area. However, the ROSE market might quickly rebound as the long-term outlook remains bullish. The all-time high price is still miles away at $0.5.
Disclaimer: This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
