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