The Oasis Network $ROSE has recently garnered attention in the cryptocurrency market, reaching a new yearly high and experiencing rapid growth since October. While its current live price stands at $0.1162, it has marked a significant increase of over 200% from the September low, with a current market cap of $780,45 million.
Looking back, Oasis Network had its share of challenges in 2022, particularly influenced by the broader market turmoil caused by events like the collapse of Terra and the FTX exchange bankruptcy. Despite these setbacks, ROSE has shown a notable recovery, especially in the context of its partnerships with major tech entities such as Meta.
In terms of technical analysis, the Oasis Network presents a mixed picture. The 50-day moving average indicates a neutral trend, which might act as a strong support level in future price interactions. However, the Relative Strength Index (RSI) leans slightly towards a bearish scenario, staying at the lower end of the neutral zone.
The introduction of the Universal Privacy Alliance (UPA), a global coalition focused on advancing digital privacy rights, with Oasis Network as a key participant, further adds to the potential of the network.
For a deeper dive with more analysis, read our blog on ROSE: https://www.iconomi.com/blog/oasis-network-rose-analysis-and-latest-developments