Oasis Network price is up more than 114% over the last seven days after spiking again on Tuesday. The blockchain ecosystem’s native token (ROSE: USDT) advanced more than 21% in the last 24 hours to trade above $0.45 rallying above the previous all-time high of about $0.447 set on Sunday.
The platform recently launched Emerald, a smart contract ecosystem on top of the existing mainnet ecosystem. The new product is in line with the platform’s goal of being a scalable privacy-enabled blockchain ecosystem that targets the decentralized Finance market.
Is it too late to buy ROSE/USDT?
From an investment perspective, the recent spike in the Oasis Network’s native token ROSE leaves little room for more short-term upward movement. ROSE now has a fully-diluted market cap of about $4.5 billion. Therefore, given the 23.74% decline in trading volume in the previous 24 hours, investors could be looking at a potential pullback. The Source of the data is from TradingView.
Technically, the Oasis Network price seems to be trading within an ascending channel formation in the intraday chart. As a result, the rally has pushed ROSE/USDT to overbought conditions, thus creating an opportunity to take some profits.
Investors could target pullbacks at about $0.4123, or lower at $0.3583, while $0.49 and $0.54 are resistance zones.
In summary, ROSE/USDT seems to have advanced to overbought conditions, thus limiting more upside movement. And with the Emerald launch tailwinds weakening, it could be time to take some profits.
This article is firstly and originally appeared on Crytoworld and redistributed by Grabcoins.link.