Will RPL Break Above $25?

The price action of the Rock­et Pool cryp­to showed that sell­ing pres­sure was not­ed on the charts and was in a down­trend, form­ing low­er lows over the past few months. More­over, due to declin­ing investor inter­est, trad­ing vol­ume was below average. 

Fur­ther­more, Rock­et Pool showed a decline in user activ­i­ty which proved to be a neg­a­tive sen­ti­ment for the cryp­to and led to bear­ish­ness in the chart.

The ongo­ing trend favors bears, and the cryp­to was also in a cor­rec­tive phase, mak­ing buy­ers cau­tious. More­over, Rock­et is trad­ing below the sig­nif­i­cant mov­ing aver­ages and tried to attain the 50-day EMA to hold the gains.

At the time of writ­ing, Rock­et Pool price was trad­ing at $22.26 with an intra­day drop of 0.18%, show­ing a bounce from the low­er trend­line near the sup­port mark of $22. More­over, the mar­ket cap was $438.397 Million.

Year-to-date, it gave returns of 12.03%; and ‑48.29% in the span of 6 months. In the last 1 month, it gave a neg­a­tive return of ‑18.79%; and ‑4.30% in the last sev­en days.

Technical Analysis of Rocket Pool Crypto Price in 1‑D Timeframe

At the time of pub­lish­ing, Rock­et cryp­to (USD: RPL) is trad­ing above the 50 and 200-day SMAs (sim­ple mov­ing aver­ages), which do not sup­port the price trend. 

The cur­rent val­ue of RSI is 41.19 points. The 14 SMA is below the medi­an at 40.80 points which indi­cates that the Rock­et cryp­to is bearish.

The MACD line at ‑0.85 and the sig­nal line at ‑0.98 are above the zero line. A bear­ish crossover is observed in the MACD which sig­nals more bear­ish­ness for the RPL cryp­to price.

4 Hour Time Frame Technical Evaluation

On the 4‑hour charts, the Rock­et Pool price is stuck in a nar­row range and does not sig­nal an upcom­ing rise because of low vol­ume lev­els. More­over, a key indi­ca­tor is still in the neu­tral range and does not sig­nal bullishness. 

The RSI curve is near 48, in the neu­tral range, and showed a nar­row con­sol­i­da­tion move on the short-term charts.

The MACD indi­ca­tor still showed green bars on the his­togram with a bull­ish crossover, but did not sig­nal any sub­stan­tial upswing.

Summary

Rock­et Pool (USD: RPL) tech­ni­cal oscil­la­tors also sup­port the bear­ish trend. The MACD, RSI, and EMA are empha­siz­ing neg­a­tive signs and imply that the down­trend may con­tin­ue in the RPL cryp­to price. Rock­et Pool Price action sug­gests that the investors and traders are bear­ish on the 1‑D time frame. The price action reflects a bear­ish per­spec­tive at the moment.

Technical Levels

• Sup­port Lev­els: S1 $21, and S2 $20.
• Resis­tance Lev­els: R1 $24, and R2 $25.

Disclaimer

This arti­cle is for infor­ma­tion­al pur­pos­es only and does not pro­vide any finan­cial, invest­ment, or oth­er advice. The author or any peo­ple men­tioned in this arti­cle are not respon­si­ble for any finan­cial loss that may occur from invest­ing in or trad­ing. Please do your own research before mak­ing any finan­cial decisions

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