After a sluggish start to 2022, Oasis Network (ROSE) is finally rebounding sharply. The token appears to have weathered the crypto storm seen over the last 7 days and is now firmly on the up. But can this uptrend actually last? Well, here are some highlights first:
At the time of writing, ROSE was trading at $0.4203, up nearly 25% in 24-hour intraday trading.
Oasis Network has distinguished itself as a fast-growing alternative to Ethereum and has earned its place in the market.
The token is now above its 20- and 50-day simple moving average, an indication of a bullish alignment.
Data Source: Tradingview
Oasis Network (ROSE) – Price prediction and analysis
Oasis Network (ROSE) has seen a massive price recovery in the last few days. Although overall, the crypto market has slumped, ROSE is outpacing every other coin right now. At the time of writing, the token was up 25% in 24-hour intraday trading.
ROSE has also paired some of the losses we saw the past week. Although it’s still down around 1.26% for the last 7 days, it’s still way better compared to the average in the market.
We have also seen the price action surge above 20- and 50-day SMAs, suggesting that there is still more bullish momentum to come in the near term. The relative strength index or RSI is also in the neutral zone, another positive sign for bulls. With these indicators, it is likely that ROSE will continue this uptrend in the near term.
Should you buy Oasis Network (ROSE)
The Oasis Network (ROSE) is seen as a serious alternative to Ethereum. The blockchain has in fact put aside $160 million to incentivise developers to create on its chain.
Although it still has a long way to go to catch up to Ethereum, so far, it has done quite well. For the long-term crypto investor, this is a good token to buy.