On November 18, the first release of coins was carried out in the Oasis network according to what was planned in its release schedule. This event had all the community followers of the project on the lookout, most of whom expected that the release will cause the fall of the token in the short term. ROSE even below $ 0.18, a price zone which it had been defending for the past few days.
According to the information that was handled, it was expected that they would release twice the circulating supply by then, which was 1.5 billion coins, and would lead the price of ROSE to position itself even in price zones of up to USD 0.11, only in case of maintaining the levels of market capitalization that it had defended, which was around 300-400 Million dollars, and also considering that the average of the historical setbacks of ROSE, after presenting a high peak, has been of a just over 50%.
It was not quite the opposite according to the forecasts that were handled what happened, at the rate of the news days before the release of currencies and during it, news that undoubtedly supported the progress of the project from the fundamentals, and generated that the price zone above $ 0.20 was defended by the bulls. LThe news of the association with Band Protocol, and the creation of a development fund of USD 160 million, had kept Rose days before the liberation, above the indicated zone, but nevertheless what surprised many, revealing his effect on the price chart yesterday was the partnership of Oasis Labs, the development company behind Oasis Network, with META IA, that is, with Facebook.
The sudden announcement, which took place at 18 hours -4 UTC, generated that the price of Rose, which was at USD 0.22043, increased during the same hour to USD 0.327000, meaning an increase of 48.27%, making it seem to see, even much more complex the panorama according to what many expected to happen.
However, it is also worth noting that these facts can be taken as a good move on the part of the Oasis team and its team with the good intention and commitment of keeping the price in a good area and avoiding the effect of a much greater fall than can even up to now, as we said before up to 50%.
Currently, at the time of writing this note, Rose has been seen marking lower highs after two bounces during the decline in recent days in which the price of Bitcoin and all altcoins fell back. However, it is struggling right now to break above the $ 0.30 barrier, which it has already done, nonetheless. We must consider that right now it is in a price zone that could be a trap because it is at 0.618 Fibonacci, drawn from its historical maximum, the golden pocket zone for profit taking, and despite the release of tokens, we can presume that the effect of the news of the alliance with Meta continues to be shown on the graph, as well as an upward pattern that is that of the alignment of moving averages (MA) that in the best of cases could lead it to establish new historical highs or present a double top pattern, but if a retracement occurs, if it could reach approximately 50%, or at least up to $ 0.21 which would be the 0.23 level of the Fibonacci retracement.
It is important to point out that you should not consider this as an investment recommendation or trading operation, it is only an informative and technical note that the editor makes according to the behavior of the movements that occurs in the market, and does not expressly represent the overview of Cointelegraph in Spanish.
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