Oasis Network’s native token, ROSE, has experienced a sharp decline, falling over 9% in the past 24 hours. The dip comes amid broader market weakness and a distinct lack of bullish catalysts for the layer-1 blockchain platform known for its confidential smart contract capabilities.
Despite solid monthly gains, the token’s near-term outlook appears increasingly bearish as momentum continues to favour sellers. Below is a breakdown of the key developments shaping ROSE’s current market trajectory.
Sharp Drop Pushes ROSE to Multi-Month Lows
ROSE is currently trading at $0.0314, representing a 9.2% drop in the last 24 hours. This downturn extends the token’s weekly losses to more than 22%, marking a notable retreat from the highs seen earlier this year.
While the altcoin remains up 68% over the past month—buoyed by a recovery from April’s lows of $0.019—it is still trading 94% below its all-time high of approximately $0.59, recorded during the 2021 crypto bull cycle.
The recent decline has dragged ROSE back to levels last seen in early Q1 2025, highlighting a loss of bullish control and a potential continuation of the downtrend.
Broader Market Sentiment Adds to Pressure
The recent bearish shift isn’t unique to ROSE. The broader cryptocurrency market turned negative on Monday, influenced by global macroeconomic developments, including Moody’s downgrade of the U.S. credit rating. This news triggered a sell-off in equities and caused Bitcoin (BTC) and leading altcoins to mirror the decline.
Bitcoin, which had recently surged past $107,000, retraced as risk appetite faded. This shift in sentiment has dampened enthusiasm across the crypto landscape, compounding pressure on tokens like ROSE that had been riding a wave of bullish momentum earlier in the month.
Still, despite the pullback, market analysts remain cautious but not entirely bearish, suggesting a rebound could materialise if investor sentiment recovers.
Derivatives Data Reflects Bearish Sentiment
Market data from Coinglass reveals a 12% drop in open interest for ROSE derivatives over the last 24 hours. While spot trading volume surged by 21% to over $17 million, the decrease in open interest implies traders are exiting long positions or reducing exposure.
Oasis price chart. Source: crypto.news
This shift in positioning is consistent with the token’s price action and reinforces the short-term bearish outlook.
Adding to this, technical indicators show further downside potential. The Relative Strength Index (RSI), though still above the neutral zone, is sloping downwards—indicating increasing selling pressure. ROSE is also trading below the middle band of the Bollinger Bands, having recently rejected at the upper band, suggesting a failed breakout attempt and possible continuation of the bearish trend.
What’s Next for ROSE?
In the short term, ROSE could remain under pressure if broader market sentiment does not improve. The key support zone lies around $0.028–$0.030, and a break below this could invite further declines toward April’s lows.
However, on a longer-term horizon, ROSE still shows promise, particularly if the Oasis Network’s unique value propositions—such as its confidential EVM and focus on privacy-preserving applications—gain adoption. A shift in market sentiment or a resurgence in altcoin inflows could help reverse the current bearish trend.
Until then, traders may continue to exercise caution, watching both technical indicators and macro developments for clues on the next move.
ROSE’s recent dip underlines the volatile nature of the crypto markets, where broader economic shifts and technical patterns often dictate short-term price movements. While the Oasis Network continues to build and expand its ecosystem, the native token is currently caught in a bearish phase, reflecting both market-wide concerns and waning investor confidence. Whether this is a temporary setback or the start of a deeper correction will depend on a mix of technical resilience and improving sentiment across the digital asset space.
