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.
Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!
Thank you!
#PEACE
For the past seven years, I’ve been sharing insightful charts and analysis.
Follow me for:
* Unbiased analyses on trending altcoins
* Identifying altcoins with 10x-50x potential
* Futures trade setups
* Daily updates on Bitcoin and Ethereum
* High time frame (HTF) market bottom and top calls
* Short-term market movements
* Charts supported by critical fundamentals
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.
Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!
Thank you!
#PEACE
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