$1.98 resistance test: Can Rocket Pool extend gains?

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Rocket Pool jumps 7.6% today to $1.91

Highlights

RPL/USD holds a bullish short-, medium-, and long-term structure, trading above major moving averages on hourly and daily charts.
Momentum indicators such as MACD, ADX, RSI, and CCI suggest buyers are in control, with no overbought readings detected.
Expected price range for the next two to three days is $1.8487 to $1.9753, with high probability for upside and immediate support at $1.8255.

Bullish momentum persists as buyers lead beyond key support

On the hourly chart, RPL/USD remains above the MA-20 and MA-50, with the price well above the MA-200 on the daily timeframe. The Ichimoku Kijun at $1.8255 acts as immediate support. MACD and ADX both indicate a buy, while RSI and CCI show buyers gaining control without displaying overbought conditions. Stochastic RSI and Awesome Oscillator are neutral, and Bull/Bear Power signals continued intraday buyer dominance. Some divergence exists as Stochastic RSI and Awesome Oscillator remain neutral amid otherwise bullish momentum signals.

Upside scenario favored amid tight consolidation range

Over the next two to three trading days, RPL/USD is expected to trade in a range between $1.8487 and $1.9753. The probability of an upward move is very high, while the likelihood of a downward move is very low. The base case envisions ongoing consolidation within this volatility band, with an upside scenario targeting a breakout above $1.98. A breakdown below $1.8255 would be required to trigger any meaningful bearish pressure.

Anton Kharitonov, expert at Traders Union, notes that Rocket Pool continues to show constructive technical strength with prices well above key moving averages and bullish momentum signals in play. However, he remains cautious as no supporting news emerges and some indicators, such as Stochastic RSI and the Awesome Oscillator, are neutral. Base case is for consolidation, but technicals still favor modest upside while $1.8255 holds. "Until RPL/USD breaks above $1.98 or loses support at $1.8255, I see limited incentive to take aggressive positions here."

Earlier, analysts noted that Rocket Pool was demonstrating robust upside momentum but faced near-term retracement risks due to momentum divergence. The current analysis strengthens this positive outlook, highlighting a high probability of continuation higher and positioning the $1.98 level as a key threshold for a potential bullish breakout in the days ahead.

Source of Data: RPL Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.