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- 1 The Rocket Pool price decreased by 12.94% in the last week and is trading below major EMAs.
- 2 The price of the RPL coin is trading at $18.32586818 and the 52-week trading range is between $18.25078942 – $65.15902100.
Rocket Pool is a protocol that allows anyone to stake ETH on Ethereum 2.0, the new version of Ethereum. Node operators use RPL as a governance and collateral token. They can also get ETH and RPL rewards for offering staking services. Rocket Pool’s goal is to make ETH staking easier and more liquid.
RPL crypto plummeted by 4.94% in market value and surged by 2.64% in trading volume in the last 24 hours, as per Coinmarketcap, which is a crypto data and info website. Its market value is $362,563,296 and its trading volume is $2,494,427. There are 19,768,220 RPL in circulation.
Rocket Pool (RPL)’s open interest is $632.58K, as per Coinglass, which is a crypto analysis website. It fell by 4.18% in the last session. The long versus short ratio for 24 hours is 0.9011. The total number of short positions added in the last 24 hours is zero against longs of $4,119,029.
The maximum market cap that Rocket Pool could have if all 20 Million RPL tokens were circulating today is $363,937,788. This is the fully diluted valuation (FDV) of RPL, which is a statistical measure of the potential value. However, not all RPL tokens are available yet.
The number of RPL tokens that are released depends on how they are designed. Coingecko, a website that provides crypto data and information, says that it might take a long time for the FDV to be achieved.
RPL Coin Price Technical Analysis in the 1-Day Timeframe
RPL coin has not done well this month as its price has dropped 15.11% as compared to last month. It has also been very volatile in the past six months, as it has shed 64.13% of its value in that time. The year-to-date return of RPL price is also negative, as it fell by 7.80% since the start of the year. This shows that the RPL coin has not been a good investment so far this year.
Therefore, the RPL price may keep going down and find new support levels at $16 and $14 if it cannot hold the current level.
On the other hand, if the RPL price stays at the current level and breaks above the previous high, then it might reach and surpass the previous resistance levels of $20 and $23.
At the time of publishing, Rocket Pool (RPL) is trading below the 20 and 50-day EMAs (exponential moving averages).
The MACD line at 0.92730860 and the signal line at 0.71528133 are below the zero line both lines cross each other showing a bear crossover in the MACD oscillator, where the histogram width is broadening showing bearishness.
The current value of the RSI is 26.34 points and the 14-day SMA is above the median line at 38.71 points, showing the curve is taking resistance from 14 SMA.
Conclusion
RPL price highlights the bearish sentiments and perspectives of investors and traders regarding the coin in the daily time frame. The technical parameters of the RPL price suggest the continuation of the bearishness over the daily time frame chart. Moreover, RPL price action highlights a bearish view at the time of publishing.
Technical Levels
- Support levels: $16 and $14
- Resistance levels: $20 and $23
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
