Oasis (ROSE) Price Falls by 9% as Market Momentum Shifts

Oasis, the layer-1 blockchain with a production-ready confidential Ethereum Virtual Machine, saw its native token fall more than 9% as bearish momentum

The price of Oasis (ROSE) fell more than 9% on Monday as bearish momentum pushed the layer-1 blockchain to fresh multi-month lows. The crypto is now trading at lows of $0.0314 and is down 22% over the past week.

While the altcoin is still in the green on the monthly timeframe, up 68% since hitting lows of $0.019 on April 7, 00:00 UTC, the current price is over 94% below its all-time high of $0.59. Over the past year, ROSE has fallen more than 63%.

A lack of bullish momentum may allow bears to extend the downtrend that began after ROSE reached a high of $0.14 in early December 2024.

Bitcoin (BTC) and top altcoins mirrored stocks on Monday. The risk-on appetite that recently pushed BTC above $107,000 quickly faded as stocks declined in reaction to Moody’s downgrade of the U.S. credit rating. However, the broader downturn has not triggered a market-wide crash, and analysts note that a shift in sentiment could reignite upward momentum across altcoins.

For ROSE, the 24-hour trading volume is up 21% to over $17 million. However, derivatives data from Coinglass shows a 12% dip in open interest, suggesting a notably bearish outlook. This aligns with recent price declines and the technical picture on the daily chart.

As shown in the chart above, the relative strength index suggests increased downward pressure despite the metric hovering just above the neutral point. The indicator is also slopping.

ROSE price is also still below the middle band after rejecting at the upper band.