Oasis Network: Exploring Price Analysis, Potential Breakouts, and Trading Strategies in the Ethereum

Oasis Network, often dubbed as an Ethereum competitor, stands out for its support of smart contracts and its focus on decentralized finance (DeFi) applications. Unlike Ethereum, Oasis Network offers several advantages, including faster transactions, enhanced security due to its ParaTime Layer, lower DApp deployment costs due to the separation of the consensus layer from the compute layer, and significantly lower transaction fees.

Technical Analysis: Unraveling Price Trends and Potential Opportunities

Monthly Chart: Market Structure Shift and Potential Rebound

The monthly chart reveals a recent market structure shift, with the price reaching 0.184 before retracing to 0.07. The current price action suggests a consolidation phase, and the key question is whether the price will break through this range and initiate an upward movement.

Weekly Chart: Sideways Movement and Potential Breakout

The weekly chart indicates sideways movement following a bearish trend. The price might potentially drop further to 0.05 before breaking through the market structure and initiating an upward trajectory. In the longer term, price targets of 0.248, 0.30, and 0.59 are possible.

Daily Chart: Market Structure Shift and Potential Bounce

The daily chart presents a market structure shift with the price currently moving downwards towards the 0.0978 zone. A potential rebound towards 0.1305 is possible if the price breaks through the market structure. The bottom has been confirmed at 0.07, while an imbalance zone exists at 0.12, which the price is likely to fill before continuing its upward movement.

Disclaimer

It is crucial to emphasize that this analysis is solely intended for educational purposes and does not constitute financial advice. Any investment decisions based on this information are at your own discretion and risk.