Tuesday, August 9

Important partnership in Oasis Network triggers the price of its token

Oasis Network is a project with a blockchain network that could change the concept of what is known today as DeFi or decentralized finance. This may be due to the fact that they claim to have a private and scalable chain of blocks that allows the user to tokenize data; without forgetting that its blockchain also has high performance and high transaction speeds.

Since its launch to the current date, it has seen excellent growth in its user community. Also, with the recent partnership that was made, the price of the native token, ROSE, skyrocketed.

At the beginning of the writing, ROSE quotes exactly $ 0.37 and registers a fall of 3.02% in the last 24 hours, and accumulates a gain in the last 7 days of 63.42% according to CoinMarketCap.

Oasis Network and Band Protocol partner to expand ecosystem

On November 17, from the Oasis Network Twitter profile, they published a post indicating how their fund of 160 million dollars can motivate new projects to join the ecosystem that has been created by developers; a fact that could cause the rise of the ROSE token in the market.

In addition, they also have benefits, which can hardly be found on the ETH blockchain; as they are, 99% lower gas rates, high transaction speeds, data tokenization, high levels of protection and security, among others. Without a doubt, his base has attracted a large number of investors since its launch.

It is also worth noting its recent association with Band Protocol to generate exposure to a new group of investors and expand its ecosystem.

The Oracle Band Protocol is a scaling solution that will allow multiple users to have access to this type of decentralized finance that Oasis Network offers.

Technical analysis evaluating low temporalities

Despite the upward trend generated by the latest news, as of today the technical scenario in price action is downward. This is because after registering profits, it is normal to see a correction in the price of the token; in this case ROSE.

This fall is visualized in the 4-hour time frame, where the momentum that allowed it to register a new ATH from 11/17 until yesterday is also noticeable; today they take profit and the price will correct for several hours. On the one hand, the RSI confirms the correction after being at extreme levels and settling at 64 points yesterday.

ROSE analysis in 4-hour timeframe. Source: TradingView.

Additionally, the candles are located outside the ENV channels and also an engulfing sell candle stopped the buying wave; also confirming the correction.

The bears will speculate to push the price to key levels, and these are the ones to watch:

The information in this content should be taken for informational purposes only, not intending under any point of view to urge the purchase / sale of financial assets.