· Rocket Pool (RPL) has a YTD yield of -12.71%.
· Rocket Pool has made an all-time high at $61.90, and the price has shown a decline of 1.97% in today’s market session.
RPL tokens are available for trading on both decentralized and centralized cryptocurrency exchanges. Uniswap V3 (Ethereum) is the favored exchange for purchasing and trading Rocket Pool, with the most active trading pair being RPL/WETH, which recorded a trading volume of $654,613 in the past 24 hours.
Based on the state of the market, the price of Rocket Pool (RPL) is now showing upward momentum. The price is forming a pattern of higher highs.
Rocket Pool (RPL) reached its all-time high of $61.90 on April 16, 2023. Presently, the price is 63.4% below this peak. The price is currently following a falling wedge pattern and is trading below the Exponential Moving Average (EMA), suggesting the likelihood of further decline in the days ahead.
Over the past three months, Rocket Pool (RPL) has lost about 44% of its value, indicating a weak structure. This suggests that the RPL price may continue to fall in the coming days.
The Open interest of the RPL coin is $51 Million. The OI of the coin rose by over 2.57% in today’s market session. This indicates that the buyers are making a fresh position.
Rocket Pool (RPL) Indicator Analysis
ss by writer50_tcr on TradingView.com
RPL is trading below the 50-day and 100-day Exponential Moving Average (EMA) lines. This indicates a negative sentiment among investors, with expectations of further price declines.
Looking at the weekly timeframe, Rocket Pool (RPL) shows a bearish trend with the MACD line below the signal line. The presence of red histograms indicates a strengthening negative momentum. This suggests a high likelihood that the RPL price will continue to decrease.
Considering technical indicators on the weekly timeframe, the outlook for Rocket Pool (RPL) is bearish. The 14-day Simple Moving Average (SMA) line is positioned below the RSI line, reinforcing the potential for further price declines in the near future.
Conclusion
The analysis suggests that RPL’s price trend is likely to remain bearish, supported by indicators such as the MACD, RSI, and EMA. Furthermore, the emergence of a negative pattern adds to the probability of a future price decline.
Technical Levels
· Support Level: $21.34
· Resistance Level: $25.14
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.