Oasis (ROSE) To Continue Rebound? Key Harmonic Pattern Signaling an Upside Move
By: coinsprobe|2025/05/02 18:15:01
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Date: Fri, May 02, 2025 | 05:45 PM GMTAfter a shaky start to 2025—highlighted by Ethereum (ETH) crashing 45% in Q1—the crypto market has begun to show signs of life. ETH has rallied nearly 31% from its April 7 low, igniting optimism across the board. And now, that renewed bullish momentum is starting to spill over into key altcoins.Among these altcoins, Oasis (ROSE) — which had also endured a harsh correction — has managed to pull off a noticeable rebound. The token surged by 15% over the past 30 days, trimming its yearly losses to 59%. Now, a key harmonic pattern is forming on the charts, hinting that the recovery may not be over just yet.Source: CoinmarketcapHarmonic Pattern Signals More UpsideThe daily chart for ROSE reveals the formation of a Bearish Cypher Pattern, but as of now, there’s still plenty of upside room left as the token works its way toward point D to complete the structure.ROSE’s sharp decline began around February 21, after failing to hold above the $0.04688 resistance level (marked as point X). From there, the token dropped more than 58%, eventually bottoming out near $0.01922 on April 7 (point C).Oasis (ROSE) Daily Chart/Coinsprobe (Source: Tradingview)However, since that low, ROSE has started to rebound, and the recent price action suggests it is now completing the CD leg of the pattern — a move that could take the price higher before any significant resistance kicks in.From the current level around $0.032, ROSE could climb toward point D, projected near $0.04096. That would represent a potential 28% gain if the pattern completes as expected.What’s Ahead?Should the bullish momentum continue, all eyes will be on the $0.04096 zone — the Cypher’s D point and a key resistance aligned with the 78.6% Fibonacci retracement of the X-A leg. Historically, this is where many harmonic patterns face rejection or consolidation.However, if bulls push through and ROSE manages to break past $0.04096, a full recovery toward the original X point at $0.04688 could be next — which is a 46% upside from the current level.Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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