The cryptocurrency market is having a positive start to the week, with most coins and tokens now in the green zone.

The cryptocurrency market has continued to recover from last week’s slump. In the past 24 hours, the market has increased by almost 3%, bringing the overall market cap to just over $1.2 trillion.

One of the top performers in the market over the last day has been ROSE (Oasis Network), which is up by over 20%. ROSE is a cryptocurrency that was created to provide privacy and anonymity for its users. It uses several mechanisms to achieve this, including ring signatures and stealth addresses.

Rose is a cryptocurrency that is ranked in the top 100 by market capitalization, with a circulating supply of more than 9 million coins.

After closing the week above $23,000 and extending its gains over the weekend, Bitcoin is poised to once again bridge the $24k resistance level on Monday.

Ether has gained 3% in the past 24 hours and is now flirting with $1,800 as it approaches resistance levels. However, ROSE, the native token of the Oasis Protocol, has been the best performer among the top 100 cryptocurrencies by market capitalization today.

Rose’s price has increased by 24% in the last 24 hours and could continue to rise over the coming days.

Since last week, when the Oasis Protocol partnered with Facebook’s parent corporation Meta, ROSE has been doing exceptionally well. As the broader market continues to perform well, the cryptocurrency may rise even more.

Therefore, If you’re looking to invest in ROSE, this is the best time to do so.

Critical levels to watch

The ROSE/USD chart is in favor, as Oasis Protocol has done well over the weekend. Today, ROSE is the greatest gainer among the top 100 cryptocurrencies by market capitalization.

Data Source: Tradingview

The MACD line is now well into the bullish zone, indicating strong momentum for ROSE. If ROSE can maintain its current momentum, it may enter the overbought range, according to the 14-day RSI of 68.

If ROSE can sustain its current momentum, it could test the $0.55 resistance level. A breakout above this level could see ROSE retest the $0.60 resistance level. However, if the bears make a comeback, ROSE could drop to the $0.45 support level.

ROSE is presently trading at $0.1032 per coin, down from its all-time high of over $1 in January 2018. If the bulls can hold on for another day, ROSE might rise above the $0.112 resistance level for the first time since May 2022. 

However, the $0.135 resistance level may act as a barrier to further gains in the near term.

If it fails to do so, ROSE could rally to $0.15. ROSE’s bulls are currently facing stiff resistance at the $0.112 level. A break above this level could see ROSE retest the $0.135 resistance level. However, if the bears make a comeback and push prices below $0.098, ROSE could drop to the $0.085 support level.

James Atkins

I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.