In response to the expanding global demand for cryptocurrencies, the number of projects launched each month has increased. The sheer volume of new initiatives has made determining the best cryptocurrency to invest in difficult.
A number of factors can influence cryptocurrency price increases. However, it is critical to monitor market conditions and technical indications to determine whether a rising trend is sustainable or if a price correction is imminent.
Currently, old cryptocurrency Oasis Network (ROSE) is facing several challenges threatening its value, while a new project, Sparklo (SPRK), continues to gain traction.
The Oasis Network (ROSE) made headlines in the cryptocurrency recently as it experienced a significant hike of 20% with over 200% trading volume, according to data from BeInCrypto.
Analysts, however, say the uptrend experienced over the past few days could be slowed by a bearish RSI divergence and a crucial resistance level.
There are some red flags that the upswing ROSE is currently experiencing might not last long. ROSE regained its November level, but it was met with an immediate price rejection, resulting in the establishment of a bearish order block at $0.077. This rejection resulted in a correction.
Indicators of bearish momentum include price rejection at the $0.080 resistance level and a decline in OI. As a result, ROSE may experience a steeper correction.
If this happens, the Oasis Network token, ROSE token might plummet below $0.062 or possibly $0.057.
According to a recent price forecast by cryptocurrency analysts, Oasis Network's value is expected to decline by -9.16% and reach $ 0.060790 by April 26, 2023. Also, technical indicators indicate that the present mood is bearish, while the Fear & Greed Index reading is 50 (Neutral).
Sparklo is the world's first blockchain-based investing platform that offers fractional investments in silver, gold, and platinum.
Sparklo will address the issue of limited access to investing in precious metals like silver, gold, and platinum by combining the benefits of holding these traditional assets with those of using a blockchain.
Investors that purchase precious metals on the site will receive a minted fractionalized NFT backed by an equivalent value of the physical commodity. If the buyer purchases the entire NFT, the real-world asset (silver, gold, or platinum) can be delivered to a location of their choice.
By utilizing blockchain technology, Sparklo will not only enable everyone to invest in precious metals but also serve as a global marketplace for buyers and sellers.
Some market analysts believe Sparklo will increase by more than 5,000x towards the end of 2023 due to the platform's potential use cases.
Sparklo is now in pre-sale and is valued at $0.015. This gives early investors the opportunity to purchase it for a very low price.
Website: https://sparklo.finance
Presale: https://invest.sparklo.finance
Twitter: https://twitter.com/sparklo_finance
Telegram: https://t.me/sparklofinance
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.