The Oasis Network is showing some very interesting price action on the hourly timeframe. If you are looking for a precision setup, here is the breakdown of the current structure and what to expect next. 📉✨
🔍 Technical Breakdown
Descending Channel: The price is currently vibrating within a descending channel. We have touched the lower boundary and are now showing signs of heading toward a breakout attempt. Keep an eye out for a successful retest of this boundary to confirm the move. 🪄
RSI Momentum: The Relative Strength Index (RSI) is currently in a downward trend. Given the recent overbought conditions, a bit more cooling off is expected before the next leg up. 📉
Moving Average Support: We are approaching the 100-period Moving Average. Historically, the price has consolidated above this level, suggesting it will act as a magnet for the current decline before a potential bounce. 🛡️
Key Support Zone: There is a strong "Green Zone" of support at 0.01220. This level has proven its strength multiple times—think of it as the floor for this setup. 🧱
📊 The Trade Setup
If you're eyeing an entry, here are the levels to watch:
Entry Price: 0.01282 🏁
Target 1: 0.01300 🎯
Target 2: 0.01340 🚀
Target 3: 0.01380 🌕
Stop Loss: Just below the green resistance/support zone (approx. 0.01215). 🛡️
💡 Pro Tip: Money Management
Never go "all-in" on a single signal. Use proper position sizing to ensure one trade doesn't ruin your week. Slow and steady wins the race in the crypto markets! 💰🧠
What do you think? Is
$ROSE ready to bloom or will it dip further? Let me know your thoughts in the comments! 👇
#ROSE #CryptoAnalysis #Write2Earn