Why Oasis Network (ROSE) is Growing and What is The Price Prediction For 2024

12/27/2023

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The price of Oasis Network (ROSE) is skyrocketing, reaching $0.13203. What is the reason for the growth and how will the price behave in 2024.

Oasis Network (ROSE) crisis

In general, AI sector tokens, including ROSE, demonstrated growth in the first half of the year. Insignificant losses were in March, the token dropped to $0.05 amid the collapse of Silvergate Bank. In the second half of the year, ROSE also showed losses, having yielded to the difficult market sentiment. The situation worsened when the US Securities and Exchange Commission sued Binance and Coinbase. At that time, the asset fell below $0.04. Another significant fall of the token was observed in September, when SpaceX sold off its Bitcoin holdings.

The Oasis Network team kicked off the strengthening of the asset back in September, announcing a number of updates and collaborations, including the creation of dApps for price forecasting and participation in Berlin Blockchain Week.

Why Oasis Network (ROSE) is growing?

ROSE's growth is attributed to the creation of the Universal Privacy Alliance (UPA), an alliance of projects such as Oasis Network, Protocol Labs, Filecoin Foundation and Aztec Network, led by Nym, which aims to protect and promote digital privacy rights on a global scale.

From the technical point of view, ROSE started its recovery from October, having recorded a 264% growth by that moment. However, only by mid-December, the asset managed to break through the significant resistance level of $0.085. Overall, ROSE has seen significant gains over the past 30 days: more than 72%. In addition, online activity has also increased dramatically. And the market capitalization reached $960 million.

Oasis Network (ROSE) forecast for 2024

At the time of writing, the price of ROSE was $0.13203. Now the asset has fallen into a bullish trend, so ROSE is expected to grow until the end of 2023.

Technical indicators also support the growth. The RSI indicator is at the level of 80%, which means: ROSE will grow. In addition, the 200 SMA will also grow for the next month. Experts assume that ROSE will reach $0.144235 as early as next week.

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