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Ethereum staking service provider Rocket Pool has seen a huge surge in TVL in past couple of months - 2
RPL price indicates a weak bullish momentum for future.It has seen a gain of 2.55% in BTC pair
Rocket Pool is a decentralized Ethereum staking pool that allows users to stake Ethereum 2.0 with only 16 ETH. It also gives an APR of 4.33% by staking ETH 2.0 on their platform. Meanwhile Users can also earn rewards in RPL by providing collateral and staking. It is built to be compatible with Casper, the new consensus protocol of ETH . Rocket Pool essentially offers anyone to participate in ETH2 staking, regardless of their capital investment or level of technological sophistication. Rocket Pool provides trustless staking of ETH to a network of decentralized autonomous nodes that are underpinned by RPL collateral Rocket pool has seen a strong surge in TVL in past couple of months. Rocket Pool also offers smart nodes which allows anyone to run a node in their network.
Rocket Pool has a market cap of $754,156,788 and is ranked 61st in the cryptoverse. Volume of the asset price has seen a decline of 18% in the intraday session.Volume to market cap ratio of RPL suggests a consolidated price trend.
Are Bulls Of RPL Ready For An Upside?
RPL weekly technician chart hints towards a consolidated momentum in price.On the daily chart it is trading near the value of $39.78 with a small drop in the intraday session. Resistance of the RPL can be seen near the value of $50.Meanwhile the support of the asset price can be seen near the value of $30. It is currently trading below the 50 and above 100 DMA. There can be a negative crossover which can push the asset price to a new low.
RSI of the asset price is near 47 suggesting its presence in the neutral zone.There is a small positive slope hinting towards a weak downside trend in price.
Conclusion
Rocket Pool has seen a surge in staking in the past couple of months.Various analysts are expecting a strong surge in RPL in the future.
Technical Levels
Major Support:$30
Major Resistance:$50
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/03/26/rocket-pool-price-prediction-2023-is-bullish-momentum-for-rpl-on-its-way/