the Oasis Network Tariff had a relatively good week even as other cryptocurrencies fell. ROSE, its native token, hit an all-time high of nearly $ 0.40. It jumped more than 1,145% from its lowest level in 2020. This rally took its market capitalization to over $ 1.3 billion.
Oasis Network is a rapidly growing platform for developers who build Decentralized Finance (DeFi) applications. He claims that his platform gives developers the ability to build more secure and highly scalable financial platforms.
This week, the developers announced that the first DeFi project has been deployed on its network. It is known as YuzuSwap.
The announcement came days after the launch of the Emerald Mainnet. It is an EVM compatible ecosystem for developers to build applications. In addition, the developers announced a $ 160 million Oasis Ecosystem Fund which will provide funds to developers working on the network. So, what’s next for the ROSE price?
Oasis network price forecast
In my analysis of Oasis’ price earlier this week, I predicted that its price would continue to rise as FOMO sets in. This view was correct as the coin was moving and testing its all-time high. Looking at the daily chart we see that it has formed a cup and handle pattern which is shown in red.
This pattern is usually a sign of a bullish pursuit. It is also supported by the 25 and 50 day moving averages. Therefore, the path of least resistance for the ROSE price is on the upside with the next key level to watch out for at $ 0.5. In the long run, it is possible that it will reach $ 1. This view will be invalidated if the price drops below $ 0.25.