Here is why ROSE is up by more than 35% today

Here is why ROSE is up by more than 35% today

By Hassan Maishera - min read

The cryptocurrency market is set to end the week in a positive fashion despite its poor start.

The cryptocurrency market is trading in the green zone for the third-consecutive day this week. The market has added more than 4% to its value in the last 24 hours, with the total market cap now above the $1.1 trillion mark.

Bitcoin remains the market’s leader and is trading above $24k after adding more than 3% to its value over the past 24 hours. Ether is eyeing the $1,800 level after rallying by more than 5% today.

ROSE, the native token of the Oasis Protocol, is one of the best performers amongst the top 120 cryptocurrencies by market cap. ROSE has added more than 35% to its value in the last 24 hours, outperforming the other major cryptocurrencies in the process.

The rally comes after Oasis Labs announced that it has partnered with Meta, Facebook’s parent company. 

According to Oasis Labs, the partnership results in the launch of a platform to assess fairness in Meta’s products, while protecting people’s privacy.

Key levels to watch

The ROSE/USD 4-hour chart is extremely bullish as Oasis Protocol has been performing well over the past 24 hours. The technical indicators show that ROSE is outperforming the broader crypto market.

The MACD line crossed into the positive zone as ROSE has been performing well over the past few days. The 14-day RSI of 85 shows that ROSE is currently in the overbought region. 

At press time, ROSE is trading at $0.070 per coin. If the rally continues, ROSE could reach the $0.090 resistance level over the coming hours.

However, it would need the support of the broader market to reach the $0.10 resistance level for the first time in months.