The Oasis Network price rebounded sharply on Tuesday as demand for the coin rose. ROSE, the native token, is trading at $0.3860, which is about 27% above the lowest level on Monday. It has a total market capitalization of $1.37 billion, making it the 91st biggest cryptocurrency in the world.
Oasis Network is a fast-growing blockchain platform that solves some of the biggest challenges that Ethereum has. It has faster speeds and lower costs than Ethereum.
Oasis has been in the spotlight recently as investors price in the growth of its network. For example, in 2021, the developers announced a giant $160 million fund to help incentivize developers building using the network. The developers also launched the Cipher ParaTime, which is a privacy-enabled ParaTime and is a leading building block of DEFI. They also launched the Oasis Emerald on the mainnet and the Parcel SDK on Beta.
Most importantly, Oasis has made key partnerships with companies like Facebook, Genetica, Nebula, and BMW.
The ROSE price has made a strong recovery this week. It is trading at $0.38, which is higher than their lowest level this year. It has moved above the 25-day and 50-day moving averages. It is also above the ascending trendline shown in green while the Relative Strength Index (RSI) has moved above the neutral level of 60. It also moved above the descending channel that is shown in red.
Therefore, there is a likelihood that the Oasis Network price will keep rising as bulls target the key resistance level at $0.45. This view will be invalidated if it moves below the key support at $0.35.
This post was last modified on Jan 11, 2022, 06:07 GMT 06:07