Oasis NetworkROSE( price) rose on Monday. This was accompanied by a rise in the volume of trading and transactions. Price surged from $0.12 to its highest point since April 12th. ROSE reached its highest point on Monday after climbing nearly 50% since May’s lowest level.
Trade and Transaction Volumes Rising
Oasis Network has seen its transaction volume increase in recent weeks. CoinGecko reports that the volume of transactions on Monday was over $31million, a significant increase from the $18million handled on Sunday.
The average daily volume over the last five days was $27,000,000, an increase of more than 50% from the 15,000,000 average for the five previous days.
Also, you can find data on the Oasis Scan The network showed a strong trend with more than 386,000 transactions being processed on Sunday, compared to just 363,000 on the 26th of May.
ROSE’s performance on Monday was boosted by these two factors, even though Bitcoin stagnated at $69,500, and the market capitalization of all coins fell 0.23%, to $2.5 billion.
Oasis Network, one of several networks attempting to compete with Ethereum as the most popular network among developers. The network’s main advantage is the separation of consensus from computation layers, which allows for greater scalability.
Oasis has a way to go before it can challenge other chains such as Ethereum, Solana and BNB Chain. Oasis Sapphire only has $6.18 in total value locked. Oasis Emerald has $1.28 million.
Oasis Network Price Forecast
ROSE’s price bounced back from its low of $0.0736, which it reached in April. It is up almost 50% since April and has moved past the Woodie pivot’s first resistance.
It is a common sign that the 50-day Exponential Moving Average (EMA) and 25-day Exponential Moving Averages have crossed in a bullish pattern. The MACD and Relative Strength Index have both pointed up, indicating increased momentum.
The path of least resistance will be higher. Next, we need to pay attention to the third point at $0.1388. It is a 16 percent increase over the current price.
ROSE’s price could be affected by the Federal Reserve announcement on Wednesday. Oasis Network will benefit from a dovish Fed decision that leaves interest rates at the same level and indicates a rate cut later in the year.
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Source: crypto.news
