ROSE Price Update in Daily Timeframe

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Now, let’s dive into this chart analysis:

#ROSEUSDT is in a bearish trend approaching a significant support and accumulation zone. The RSI suggests that the asset is nearing oversold conditions, which could lead to a potential short-term recovery.

Support and Resistance Levels:
~ Resistance: The immediate resistance is identified at $0.10131, marked by the 50-day moving average. The next significant resistance is at $0.117, aligned with the resistance trendline.
~ Support: Strong support is observed around the $0.07509 level, which coincides with a significant accumulation zone highlighted in green. The support level at $0.08200 is also notable as it has acted as a base for previous price rebounds.

Future Projections:
~ If the price can sustain above the strong support zone around $0.07509 - $0.08200, we may see a potential recovery towards the 50-day moving average at $0.10131.
~ A break above the descending trend line and the 50-day moving average could signal a trend reversal, with potential upside targets around $0.13500 and $0.18319.
~ Conversely, failure to hold the support at $0.07509 could lead to further downside, with the next support level around $0.06600.

DYOR. NFA.

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