Friday, December 2, 2022

Oasis (ROSE) making higher lows as buying volumes rise

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  • Oasis Network has an ongoing Hackathon that has drawn a lot of investor and developer interest into the project. 

  • Oasis aims to become a leader in the private smart contracts space, the next growth phase in DeFi. 

  • Oasis is making higher lows, indicating that bulls are firmly in control. 

Oasis Network ROSE/USD is currently one of the top-performing cryptocurrencies in the past week. While it has eased up today due to a correction in the broader market, it is still one of those cryptos whose chart points to a potential continuation of the bull trend that had started earlier in the week.

Oasis Network’s current price action has a lot to do with the Oasis Bloom Hackathon that kicked off on March 10th. The Hackathon will run until May 2nd and comes with a reward of $200k. This has drawn a lot of interest in Oasis and is likely to keep driving interest in this project over the next couple of weeks.

Besides this short-term price action, Oasis has the fundamentals that could see it rally once the markets turn bullish again. That’s because it is operating in an aspect of the crypto market that has all the hallmarks of potential growth going into the future.

Oasis is looking to become a market leader in the private smart contracts markets. With DeFi disrupting traditional finance, it is only logical that privacy will be essential in the next wave of growth. It will give industry players the confidence to move even higher amounts of money, especially when it comes to lending and the issuance of under-collateralized loans.

Oasis making higher lows

Source: TradingView

Oasis has been on an uptrend since March 21st. It is currently making higher lows, indicating that bulls are firmly in control. With buying volumes on the rise in the broader market, Oasis could easily test $0.50 

Summary 

Oasis Network is on an uptrend and is currently making higher lows. Oasis has been outperforming the market driven by the ongoing Hackathon with a $200k reward.

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