<em><strong>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. </strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>The ROSE prices went down by 9.55% in the last 24 hours.</li>
 	<li>The price action shows multiple higher price rejection candles due to high selling pressure at $0.086.</li>
 	<li>The 24-hour trading volume of Oasis Network is $90 million, indicating a drop of 50%.</li>
</ul>
<h3>Past Performance of ROSE</h3>
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 <a href="https://www.cryptoknowmics.com/news/dot-technical-analysis-will-this-breakout-rally-exceed-10/" target="_blank" rel="noopener">rally</a> 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.

<img src="https://s3.tradingview.com/snapshots/s/szew7ncw.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/szew7ncw/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>ROSE Technical Analysis</h2>
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 sentiment is still positive.

The MACD indicator shows a slight downward curve in the fast line in response to the falling price. A potential bearish crossover would encourage the retracement rally to extend.

In a nutshell, the ROSE technical analysis suggests a pullback opportunity, which may allow sideline buyers to enter at discounted rates.
<h2>Upcoming Trend</h2>
If the selling pressure persists, the ROSE price will extend the ongoing correction to $0.71 or $0.6 support. Moreover, the 20-day EMA nearing the $0.71 mark will give confluence support to resume the prevailing theory.

Conversely, a daily candlestick closing below $0.6 will invalidate the bullish thesis.

Resistance Levels: $0.086  and $0.10

Support Levels: $0.070 and $0.060

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

The ROSE technical analysis shows a bullish failure to break above the 100-day SMA resulting in a downtrend eyeing the bottom support of $0.060. 

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

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

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