- Bulls showed their dominance in the token with strength.
- RPL token looking to fly above the near term hurdles.
Rocket Pool token ( RPL ) shows bullish views on the daily chart, acquiring consecutive gains in the last three trading sessions. Furthermore, the trend is still in a strong uptrend. The token stays inside the rising parallel channel and forms higher highs. The sellers were not trying to make short positions due to the increasing momentum of bulls. However, there were certain hurdles, but bulls did not let go and passed smoothly, sustaining above 50-day EMA.
RPL was in a strong uptrend and did not go through under the seller’s hands. Moreover, the price action indicates a certain bullishness with more upside in the near term.
The trajectory swings to $64 to be retested first in the upcoming sessions, and as per the Fib extension tool, the upside towards $85 is that further targets will be there for the longer term.
When writing, Rocket Pool trades at $47.96 with an intraday gain of 2.02% showing bullish indications. Moreover, the pair of RPL/BTC is at 0.00177BTC, and the intraday trading volume was increased by 1.00% to $4.14 million. The day high of RPL is $48.64, and the day low is $47.27. The market cap of RPL is $915.24 Million.
Will the Uptrend Continue?
On the daily charts, the RPL token looked in a strong uptrend where higher highs and lows sequence was noted on the charts. The token gained from the start of 2023 and rose by more than 90% in the last three months, showing buyers presence and accumulation in the token. However, only buying with decent volumes showed that the token was under the hands of buyers, and those continued to surge by taking long positions in the token.
Moreover, the technical parameters suggest a substantial upside from now onwards, and follow-on buying was a sign of the continuation of an uptrend.
The fib levels indicate a full bullish view of the RPL token, where the token continues to pull just after a little retracement from the 78.6% level and continues to surge further.
What Technical indicators Say?
On the 4-hour charts, the RPL token price attained strength, and technical indicators showed bullishness on the charts. Moreover, follow-on buying will head the token above the psychological hurdle of $50 in the following sessions. Afterward, confirmation arises from the token sustained over there.
The RSI sharply rose towards the overbought zone, and a positive crossover was noticed on the curve.
The MACD indicator showed a bullish crossover in the past trading sessions and floated green bars on the histogram.
Conclusion
RPL token stayed above the 50-day EMA, suggesting an upcoming bullish trend.
Technical levels;
Support Levels: $44
Resistance Levels:$50
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.