Rocket Pool Price Prediction: RPL Price might hit fresh high

• Rocket Pool Price Prediction favors the bulls and suggests a rise in the long term.
• RPL Price struggles to sustain above $50.00 level. 
• Rocket Pool Price forming a bullish continuation pattern.

Rocket Pool Price prediction favors the bulls and suggests a rise in the long term till it sustains $30.00 support. RPL price has performed well in the past two months and generated decent returns for its investors. However, the momentum halted at $60.00 and prices also witnessed a minor profit booking from the higher levels. 

Rocket Pool Price is struggling to defend the 50 day EMA to keep the trend in the favor of bulls. But the overall market sentiment seems to be mildly bearish which might negatively impact the prices of RPL and other Altcoins. 

Rocket Pool Price is trading at $46.00 with an intraday decline of -1.66%. The 24 hour volume to market cap ratio is 0.009. At the mid of March, RPL price took support at $31.00 and formed a bullish hammer candle. Later, prices gained momentum and continued to rise upward by forming higher high swings. 

Meanwhile, it also managed to climb above the 50 day EMA which triggered the positive sentiment and gained the confidence of the investors. Later, the buying volume increases and prices hit the fresh high at $65.00. However, it failed to hold the higher levels and collapsed down with a strong momentum. The downfall halted near to the 50 day EMA and prices entered into consolidation. 

Rocket Pool Price is in correction mode

Rocket Pool price corrected 25% approx from the recent swing high and approaching the demand zone. If the selloff continues then prices might test the $40.00 level in the coming week which will act as important support. 

On the other hand if the price holds the 50 day EMA then buyers will try their best to rebound and recover the losses. The probability of hitting a fresh high will increase when buyers are able to sustain the price above the $50.00 level. 

Presently, RPL price is in a correction mode and correction is expected to continue for some more time. The technical analysis suggests, Rocket Pool price is retracing downward and sellers seem more active as compared to buyers. Therefore more downside is possible.

Will RPL Price expand downside?

RPL Price is consolidating in a narrow range from the past three weeks and expected to expand downside. However, the next phase of selloff will trigger when the price dropped below $40.00. 

The technical indicators like MACD have generated a negative crossover and histogram bar is on the declining phase. It indicates prices are likely to trade with the bearish bias and selloff might continue for some more time. The RSI at 45 sloping down denotes weakness and might test the oversold territory. 

Conclusion 

Rocket Pool Price prediction favors the bulls and suggests a rise in the long term till it holds $30.00 support. Presenty, RPL price is in a correction mode and selloff might continue for some more time. However, $30.00 and $40.00 will act as strong support and buyers will try their best to halt to the downfall.

Technical levels

Resistance levels : $53.00 and $61.00

Support levels : $40.00 and $30.00

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.