Rocket Pool drops as downward price move continues
Rocket Pool (RPL) is trading at $1.38, down 9% on the day. The price remains below its key moving averages, indicating pressure from sellers in recent sessions.
Highlights
- RPL/USD remains under sustained pressure with the price trading below key moving averages on both intraday and daily charts.
- Momentum indicators confirm a strong bearish trend, with MACD, ADX, and negative Bull/Bear Power showing sellers in control.
- Anticipated price range over the next 2 to 3 days is $1.3422 to $1.4298, with a 79% probability of further downside.
Bearish momentum intensifies as RPL breaches technical supports
On the hourly chart, RPL/USD is trading below both the MA-20 at $1.50 and MA-50 at $1.49, with the daily MA-200 far above at $1.67. Immediate resistance is defined by the Ichimoku Kijun at $1.46. Momentum indicators signal continued bearish conditions: MACD and ADX are in Sell mode, and Bull/Bear Power is negative at -0.0708, showing seller dominance in intraday action. Oscillators including RSI, Stoch RSI, and CCI are all entrenched in oversold zones, suggesting extended selling but without clear signs of reversal yet. High volatility is evident as the price trades near today's session low, with only a $0.006 gap above it.
Downside risk elevated as short-term range narrows
In the short term, RPL is expected to stabilize within a range of $1.34 to $1.42 in the next two to three days. Probability is weighted towards further downside, with a 79% chance of a drop below the range lows and just a 21% likelihood of an upward move. A bullish scenario would require a sustained breakout above immediate resistance, while a close below the stated range risks continuation of selling to fresh lows.
Earlier, analysts noted that Rocket Pool was under persistent bearish pressure as it traded below major moving averages. The latest price action reinforces this negative trend, highlighting a prevailing downside scenario with traders advised to monitor for a decisive break beneath the current range lows for signs of deeper losses.