The Oasis Network’s native token ROSE fell sharply today, losing 9% of its value to trade at $0.0314 amid broader market weakness. This decline marks ROSE’s lowest price point in several months as cryptocurrency investors retreat from riskier assets.
Market Performance Highlights
- ROSE price down 22% over past week
- Trading volume increased 21% to $17 million
- Open interest in derivatives fell 12%, indicating bearish sentiment
- Token remains 94% below its all-time high of $0.59
Driving Factors Behind the Drop
The selloff comes as the entire cryptocurrency market faces pressure following Moody’s downgrade of the U.S. credit rating. Bitcoin’s pullback from $107,000 has created ripple effects across altcoins, with ROSE being particularly affected.
While ROSE had shown strong performance in recent weeks – up 68% from its April low of $0.019 – the current downturn suggests traders are taking profits and reducing exposure to smaller-cap tokens.
Technical Outlook
Chart analysis shows:
- Price testing key support at $0.031
- Relative strength index hovering near neutral territory
- Potential for further downside if support breaks
The Oasis Network continues developing its confidential Ethereum Virtual Machine technology and recently announced AI-powered trading tools. These innovations could help ROSE recover when market sentiment improves.
What Comes Next?
Investors will be watching:
- Whether $0.031 support holds
- Broader crypto market direction
- New developments from Oasis Network
While the short-term picture appears challenging, Oasis’s strong technology foundation may position ROSE for recovery when conditions stabilize.
