The cryptocurrency market is facing significant pressure amid global conflicts, particularly the escalating tensions between Israel and Iran involving the U.S. Major assets like Ethereum continue to fall, which is also impacting altcoins.
Overview of Current Market Situation
The cryptocurrency market is continuing to struggle due to rising global tensions, especially surrounding the conflict between Israel and Iran. Consequently, cryptocurrencies such as Ethereum (ETH) have seen declines: from a monthly high of $2,877 to $2,230. Altcoins, including Oasis Network (ROSE), have also suffered significant losses.
Structure of ROSE and Past Pattern
Over the past week, ROSE has dropped by 16%, leading to a total monthly loss of 33%. However, the current dynamics might indicate a potential recovery. Reflecting on late 2024, ROSE followed a clear structure: after a prolonged decline within a falling wedge, the token found support and subsequently rallied by 100%. There is a possibility that a similar structure is currently forming.
Prospects for Oasis Network (ROSE)
If this structure plays out, ROSE may soon break out of its falling wedge and regain the 100-day moving average. A successful breakout above this level could trigger a powerful rally, with price targets extending towards $0.080, equating to a potential gain of over 250% from current levels. However, until confirmation occurs, the situation remains uncertain, and caution is essential given the market's instability.
Despite the current challenges in the cryptocurrency market, Oasis Network (ROSE) shows signs of potential recovery. However, traders should wait for clear breakout signals.
