ROSE Rallies as Oasis Protocol’s Community Grows Stronger

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Updated: Dec 27, 2021, 11:56 UTC

Oasis Protocol has reached 100,000 followers on Twitter, with its native coin, ROSE, rising by more than 8% in the past 24 hours.

Oasis Protocol’s Twitter Followers Reach 100k

Oasis Protocol announced a few hours ago that it had crossed the 100k level in terms of its Twitter followers. This latest development comes as the project begins to gain traction amongst cryptocurrency investors.

Thank you x100,000 for supporting us, believing in us, and joining us in building a better internet for everyone 🙂

Permission to pop the NYE champagne early…? 😉☺️🍾 pic.twitter.com/dQtMX9TGPc

— Oasis Foundation (@OasisProtocol) December 27, 2021

The Oasis Network is a decentralized blockchain network developed by Oasis Labs that enables secure and private data-sharing and control. The network uses ROSE as its native coin. The coin is used for staking and delegation in the protocol’s consensus, as well as paying network transaction fees.

Its blockchain has two major components. The first one is the consensus layer, which is a scalable and secure algorithm run by a decentralized set of validators. The second one is the paratime layer designed to host numerous parallel runtimes. Each of the runtimes represents a replicated computation environment with a shared state.

ROSE Could Rally Towards $0.4

ROSE is one of the top performers in the market after adding more than 8% to its value in the past 24 hours. Its technical indicators show that ROSE is currently outperforming the market and could extend its rally higher over the next few hours.

ROSE is trading above its 50-day moving average. Source: FXEMPIRE

At press time, ROSE is trading at $0.36 per coin, which is above its 50-day moving average of $0.288. The MACD line crossed into the positive region a few hours ago, and the RSI of 67 shows that ROSE could soon enter the oversold territory.

If the market momentum is maintained, then ROSE could break past the $0.40 psychological level before the end of the day. However, it would need the support of the broader market if it intends to surpass the $0.44 resistance level.