Oasis/Tether Market Overview: ROSE/USDT Bears Dominate in 24-Hour Session

• ROSE/USDT declines over 24 hours, closing near a key support level at $0.01665.
• Volume spikes during a sharp sell-off in early evening ET, suggesting increased bearish pressure.
• Momentum appears to be shifting downward with bearish divergence in RSI and MACD.
• Price remains within a tightening Bollinger Band, indicating potential for a breakout.
• No strong bullish patterns identified in the 15-minute chart, but bearish consolidation is evident.

Oasis/Tether (ROSE/USDT) opened at $0.01685 on 2025-10-22 at 12:00 ET and closed at $0.01665 24 hours later on 2025-10-23 at 12:00 ET. The pair touched a high of $0.0169 and a low of $0.01574 during the 24-hour window. Total traded volume amounted to approximately 13,029,298.85 ROSE, with notional turnover reaching $212,137.99.

The price action over the 24-hour period reveals a bearish bias, especially after a sharp drop in the early evening (ET) hours. A breakdown from the $0.01685 level appears to have triggered a series of sell orders, as seen in the 15-minute candles. The price settled near $0.01665, a level that could either hold as a temporary floor or trigger further downside if broken.

Structure & Formations

The 15-minute chart shows a bearish consolidation pattern forming, with several bearish candlestick formations such as the dark cloud cover and bearish harami visible. While no classic bullish engulfing pattern is evident, the price appears to be rejecting key resistance levels, suggesting that the bulls are struggling to regain control. The most immediate support appears to be at $0.01665, with the next level at $0.01650.

The most recent swing high is at $0.0169, and the swing low is at $0.01574. The price currently sits within the 61.8% Fibonacci retracement level of this move, which could offer a potential area of interest for either buyers or sellers.

Moving Averages and Bollinger Bands

On the 15-minute chart, the price is below both the 20-EMA and 50-EMA, reinforcing the bearish bias. The Bollinger Bands have recently begun to contract, suggesting a potential breakout is in the offing. If the price breaks below $0.01665, the short-term volatility could increase as the lower band begins to widen.

The 50-day, 100-day, and 200-day moving averages on the daily chart are all in a downtrend, aligning with the bearish sentiment observed in the shorter timeframes. This reinforces the view that the pair is in a medium-term downtrend.

MACD and RSI

The MACD remains negative, with the histogram shrinking slightly in the last few hours, indicating a potential easing in the bearish momentum. However, the RSI is trending lower, moving toward overbought territory on the upside but now into oversold territory on the downside. This bearish divergence between momentum and price suggests that the sell-off may not have run out of steam.

The RSI hovering near the 30 level indicates that the pair may have entered oversold territory, but given the recent bearish momentum, a rebound may not be enough to reverse the trend.

Volume and Turnover

Volume spiked sharply in the early evening (ET) hours, coinciding with the price breaking below the $0.01685 level. This suggests strong bearish conviction at that time. However, volume has since declined, indicating that the bearish sentiment is waning or that the market is consolidating.

Notional turnover has remained relatively stable throughout the 24-hour period, with no sharp spikes. This suggests that while the move down was significant, it may not have been accompanied by a large amount of institutional or retail participation.

Backtest Hypothesis

The backtesting strategy described involves identifying historical dates on which a Bullish Engulfing pattern appeared for ROSE/USDT. Unfortunately, the data source did not return any results for this symbol, likely due to data unavailability or format incompatibility. This presents a challenge in verifying the efficacy of the pattern for this pair.

Moving forward, one viable approach is to detect the Bullish Engulfing pattern manually from the provided OHLCV data. This would involve scanning the 15-minute candlesticks for a specific formation—where a large bullish candle follows a smaller bearish one, fully engulfing it. Once identified, a 24-hour holding period backtest could be conducted to assess profitability.

An alternative is to try a different exchange symbol (e.g., ROSE-USD on another platform), which may yield the pattern data. If you have access to such data or prefer one of the above approaches, the analysis could be refined accordingly.