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Critical comeback from the Oasis Network (ROSE): Breaths held!
Oasis Network (ROSE), which succumbed to the pullback in Bitcoin (BTC) and sagged into an important area, created an atmosphere of panic.
The fact that Bitcoin continues to push altcoins in terms of both price and dominance has created uneasiness in some projects. Oasis Network (ROSE), which came at the top of these projects, threw a needle in a very important area in a wide period of time. ROSE, which has managed to protect this area for now despite the buyers prevailing, may ring the alarm bells if it sees a wave of selling again.
BTC's trajectory could put ROSE's foot down!
As of the writing of the news, the BTC, which is priced around $ 40,000, has not yet been able to draw its course. Due to this situation, ROSE, which cannot give confidence, may fall to 0.07508 and 0.06367 dollars if it does not hold at 0.091 – 0.087487 dollars. The green box, which is both a buyer and a decision-making region, is likely to continue to chart ROSE's short/medium-term fate.
Demand for ROSE will increase if $0.10310 is broken by volume, BTC climbs to $41,500, or BTC dominance eases below 50%. In such a scenario, a move to $0.11267 can be expected first. After that, it could head towards $0.12763 – $0.14110 and $0.14931, respectively. Additionally, persistence above the recent high of $0.14931 would signal a new bull run on the part of ROSE.
Oasis is a privacy-focused and versatile decentralized Layer-1 blockchain network that is an alternative to Ethereum (ETH) with scalability. Built using the Cosmos SDK, the Oasis Network uses the Proof–of–Stake (PoS) model as its consensus mechanism.
Thanks to its double-layered structure, the Oasis Network is both scalable and differentiated by providing data privacy. On the Oasis Network, the ParaTime Layer, which contains many parallel runtimes, which represents a replicated transaction environment, is separated from the Consensus Layer, where transactions are verified and the network is secured. In this way, the Oasis Network does not have to sacrifice network security while speeding up transactions.