OASIS ROSE - Trendline support with next price target of $0.57ROSE fell down -41% after being rejected at the low $0.40s, while the crypto and stock market suffered FUD from Omicron. The drop however is far from the -62% it had in it's previous large correction. This may indicate a more macro bullish trend for ROSE as it looks to go $1.00 and beyond.
ROSE is sitting on the cusp of its support along an upward trendline with multiple touchpoints. If the trendline holds, we should be looking at a retest of resistance coming in at $0.36 and $0.42. But as it stands, ROSE is under immense selling pressure, so more downside is still possible.
The $0.42 level appears quite hefty, and I suspect there are a lot of big bag hodlers dumping here. 43% of ROSE's supply originally went to Backers and Contributors, so I suspect that is part of what is keeping ROSE from having a faster move up. Their coins are worth a lot of money.
If ROSE is able to get through $0.42, my next price target would be about $0.57. The last two runs up were almost precisely the same measured move, so it's very possible it may repeat this again.
