ROSE Technical Analysis: Bears Demolish The Rising Channel

ROSE coin price fronts a surge in supply above the $0.30 threshold resulting in a downfall below the support trendline. Will the downfall crack under $0.25? Key technical points: ROSE prices have decreased by 13.41% in the past 24 hours. In addition, the MACD indicator shows an inevitable bearish crossover. Finally, the 24-hour trading volume of Oasis Network is $169.69 Million, marking a 22% fall. Past Performance of ROSE ROSE coin price has been rising in a parallel channel starting from the bottom at $0.21 in the third week of March. The rally inflated the prices by 50% in just 20 days and reached the $0.30 mark. However, the higher price rejection above $0.30 due to increased selling drove the prices below the support trendline. Source-Tradingview ROSE Technical Analysis ROSE coin price action creates a consecutive bearish candle with long wicks, accounting for a 15% fall within 48 hours. Hence, the advanced supply is apparent in the long wicks and bearish candles, indicating a high chance of falling below the $0.25 mark. The bearish trend breaks below the 100-day EMA and challenges the 50-day EMA. However, the 200-day EMA below the $0.25 support zone keeps the bullish reversal possibilities alive. RSI Indicator: The RSI slope faces rejection near the 70% boundary resulting in a reversal from the nearly overbought territory. Moreover, the falling RSI slope cracks under the 14-day average and reflects the increased bearish ...