Oasis Network Price Prediction 2024: ROSE Price Analysis
What's next for the Oasis Network's ROSE coin?
Key Takeaways
- Oasis Network’s ROSE has fallen since its yearly high in March.
- The blockchain helps people create cross-chain DApps.
- Our price predictions suggest ROSE will begin an upward movement soon.
The Oasis Network’s ROSE has declined since its yearly high in March. The performance for 2024 has been negative, showing a decline of over 50%.
Its parent company, Oasis Labs, has worked with Facebook owner Meta on AI and fairness, one might hope that there will be more to come.
On Aug. 27, 2024, ROSE exchanged hands for $0.06.
Let’s examine our price predictions for Oasis Network made on Aug. 27, 2024. We will also investigate the ROSE price history and discuss what ROSE is and does.
Oasis Network Price Prediction
Here are the OASIS price predictions from CCN on Aug. 27, 2024. Price forecasts should be taken cautiously, especially for something as volatile as crypto. Our OASIS crypto price predictions will use the wave count method to predict its future movement.
We will add and remove 20% from the target price to provide a range of possible outcomes, resulting in minimum and maximum ROSE price predictions.
| Minimum ROSE Price Prediction | Average ROSE Price Prediction | Maximum ROSE Price Prediction | |
|---|---|---|---|
| 2024 | $0.055 | $0.068 | $0.081 |
| 2025 | $0.092 | $0.114 | $0.136 |
| 2030 | $0.232 | $0.285 | $0.342 |
The most likely wave count suggests that ROSE started a five-wave increase in December 2022. The upward movement concluded with a 2024 high of $0.185 in March. Since then, ROSE has decreased in what is likely an A-B-C corrective structure.
Waves A:C had a 1:0.618 ratio, so the correction may have ended. If the ensuing upward movement has the same length and duration as the previous one, ROSE will reach a high of $0.20 in October 2025. Then, another downward movement could follow.
During these projected upward and downward movements, the wave count gives a ROSE price prediction of $0.068 and $0.114 for the end of 2024 and 2025, respectively.
Finally, we use the daily rate of increase for the past year to come up with an Oasis Network price prediction for the end of 2030. In the past 365 days, ROSE increased by 60%, for a daily rate of increase of 0.16%.
Projecting this increase until the end of 2030 leads to a ROSE price prediction of $0.285.
Oasis Network Price Prediction for 2024
Our wave count method leads to a ROSE price prediction range between $0.055 and $0.081 for the end of 2024.
Oasis Network Price Prediction for 2025
Our wave count method leads to a ROSE price prediction range between $0.092 and $0.136 for the end of 2025.
Oasis Network Price Prediction for 2030
Using the daily rate of increase we arrive at a ROSE price prediction range of $0.232 to $0.342 for the end of 2030.
ROSE Price Analysis
The daily ROSE chart shows a decrease under a descending resistance trend line since June 10. The downward movement led to a low of $0.049 on Aug. 5. The ensuing increase caused a retest of the resistance trend line.
However, ROSE failed to break out and was rejected by the trend line once more.
The increase after the Aug. 5 lows resembles an A-B-C corrective structure. If so, the ROSE price will fall to a slightly lower low before eventually breaking out from the trend line.
Short-Term ROSE Price Prediction
The ROSE price prediction for the next 24 hours hinges on the price falling to a new, slightly lower low. If this is the case, ROSE will gradually decline toward $0.048, possibly reaching it in the first week of September before reversing its trend.
Oasis Network Average True Range (ATR): ROSE Volatility
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days.
A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels.
On Aug. 27, 2024, ROSE’s weekly ATR was 0.02, implying average volatility. The ATR has increased since the start of the year but has fallen since April. Divided by the $0.06 ROSE price, the ATR is 0.33.
Oasis Network Relative Strength Index (RSI): Is ROSE Oversold or Overbought?
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and 30 show overbought and oversold conditions, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.
On Aug. 27, 2024, the ROSE weekly RSI was at 41, showing a bearish trend. The weekly RSI fell below 50 in May.
Best Days and Months to Buy ROSE
We looked at the ROSE price history and found the times when the price was at its lowest across certain days, months, quarters, and even weeks in the year, indicating the best times to buy ROSE.
| Time to Buy ROSE | Best Days, Weeks, Months and Quarters |
|---|---|
| Best Day | Sunday |
| Best Week | 3 |
| Best Month | November |
| Best Quarter | First |
ROSE Price Performance Comparison
ROSE is a blockchain that deals with smart contracts. Let’s compare it to other similar projects.
ROSE Price History
Let’s now examine the Oasis Network (ROSE) price history. While past performance should never be taken as an indicator of future results, understanding what the coin has achieved can provide useful context when making or interpreting an Oasis Network price prediction.
2020: ROSE was first publicly traded in late 2020, starting at around $0.05.
2021: The beginning of 2021 saw a significant rise in both the crypto market and the Oasis Network. ROSE reached highs above $0.20 in March and April before declining over the summer. A resurgence in the autumn pushed the price past $0.25 in September and further to $0.40 in November. However, concerns about the Omicron variant of Covid-19 led to a decrease, with ROSE closing the year at $0.4298.
2022: ROSE began 2022 on a positive note, boosted by the news that Binance Labs, the investment arm of the Binance crypto exchange (BNB), had contributed to the Oasis Ecosystem Fund. This development propelled the price to an all-time high of $0.5964 on Jan. 15, 2022.
However, the rest of the year was challenging for ROSE. The collapse of the Terra (LUNA) blockchain in May drove the price below $0.10. Further damage was done when the FTX (FTT) exchange declared bankruptcy in November, causing ROSE to close the year at $0.03418, marking a decline of more than 90% throughout 2022.
2023-2024: The year began with volatility for ROSE. It peaked above $0.08 in February, but the collapse of Silvergate Bank in March briefly pushed it below $0.05. The price recovered, rising past $0.07 in April, before experiencing another downturn. By Sept. 15, 2023, the coin showed signs of a minor recovery, trading around $0.04. As of Aug. 27, 2023, ROSE was valued at $0.06.
| Time Period | ROSE Price |
|---|---|
| Last Week (Aug. 20, 2024) | $0.06 |
| Last Month (July 27, 2024) | $0.086 |
| Three Months Ago (May 27, 204) | $0.095 |
| One Year Ago (Aug. 27, 2023) | $0.041 |
| Launch Price (Nov. 19, 2020) | $0.037 |
| All-Time High (Jan. 15, 2024) | $0.059 |
| All-Time Low (Nov. 26, 2020) | $0.032 |
ROSE Market Cap
The market capitalization, or market cap, is the sum of the total number of ROSE in circulation multiplied by their price. On Aug. 27, 2024, Oasis Network’s market cap was about $407million, making it the 155th largest crypto by that metric.
Who Owns the Most Oasis Network (ROSE)?
As of Aug. 27, 2024, one wallet held more than 21% of the supply of ROSE.
Richest ROSE Wallet Addresses
On Aug. 27, 2024, the five richest ROSE wallet addresses were
- oasis1qpg2xuz46g53737343r20yxeddhlvc2ldqsjh70p. This wallet held 2,123,758,572 ROSE, or 21.24% of the supply.
- oasis1qprtzrg97jk0wxnqkhxwyzy5qys47r7alvfl3fcg. This wallet held 835,685,070 ROSE, or 8.36% of the supply.
- oasis1qqjak3gnnnxkc8rm9e6vu3rwt3hm3shq0y47c6zr. This wallet held 11,151,296 ROSE, or 6.64% of the supply.
- oasis1qqepjltaqz6364wxpgsgkhrhn2jvnxhnsq8fkm8j. This wallet held 7,312,329 ROSE, or 3.36% of the supply.
- oasis1qr3dyzj5aed7f2zq6rrrpzklzfl37t0tsvvffa9m. This wallet held 15,726,867 ROSE, or 2.06% of the supply.
ROSE Supply and Distribution
| Supply and Distribution | Figures |
|---|---|
| Total Supply | 10,000,000,000 |
| Circulating Supply as of Aug. 27, 2024 | 6,729,795,897 (67% of the total supply) |
| Holder Distribution as of Aug. 27, 2024 | Top 10 holders own 48.99% of the circulating supply |
From The Oasis Network Whitepaper
According to the whitepaper , The Oasis Blockchain Platform is a “Layer-1 Proof-of-Stake smart contract platform that provides scalability, extensibility and privacy”.
Oasis Network (ROSE) Explained
The Oasis Network is designed to help people develop their own decentralized applications (DApps). Not only that, but it also allows people to deploy their DApps across different blockchains.
The Oasis Network was created by Oasis Labs. American academic Dawn Song founded Oasis Labs in 2018, and the blockchain came out in 2020.
The ROSE coin supports the Oasis Network.
How Oasis Network Works
The Oasis Network uses a Proof-of-Stake (PoS) consensus mechanism. This means people are chosen to add blocks to the blockchain and verify transactions based on how much ROSE they hold.
ROSE pays for transactions on the network. People can also buy, sell, and trade it on exchanges.
Is Oasis Network a Good Investment?
It is hard to say. It has performed steadily over the last week or but it is down since the start of the year. One would have to hope that it can make more connections with notable tech companies, like its partnership with Meta.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in ROSE.
Will Oasis Network go up or down?
No one can really tell right now. While the Oasis Network crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in Oasis Network?
Before you decide whether or not to invest in Oasis Network, you will have to do your own research, not only on ROSE, but on other, related, coins and tokens such as Ethereum (ETH) or Cardano (ADA). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
FAQs
Our price predictions suggest that ROSE will not reach $1 in the near future. ROSE pays for transactions on the Oasis Network blockchain. Holders can add blocks to Oasis Network and earn rewards for doing so. People can also buy, sell, and trade ROSE on exchanges. Will Oasis Network Reach $1?
What is Oasis Network Used for?
