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- 1 Rocket Pool (RPL) price prediction is bullish.
- 2 RPL formed a strong base and sharp move appear come anytime.
- 3 The trend of RPL token is not clear but EMAs are acting as a strong support.
RPL price prediction is that consolidation is likely to end soon. This crypto has been consolidating for a quite long time and formed a strong base near $25.00. So, a sharp move on the Rocket Pool chart is very likely.
The chart structure of RPL suggests that bulls look more aggressive and active as compared to bears. So, the buyers are likely to absorb the sell off which will force the sellers to step back.
The demand zone is in the range between $25.00 to $30.00. Sellers tried multiple times to break the lower range and pull the price downwards.
It shows the presence of buyers near $25.00 which has capacity to absorb high selling pressure. Recently, RPL crypto price tested the demand zone and showed a sharp bounce. The price is expected to climb to a higher range and expand the range.
The probability of range expansion will remain high till the price trades above the 50-Day and 200-Day EMA. So, investors need to be careful and wait patiently for a $34.00 breakout to build fresh longs.
RPL Price Getting Ready For Sharp Move
RPL price is trying to regain the $30.00 mark. It will keep the sentiment of the investors positive and may attract new participants. The sharp move may come in any direction so investors should be mentally prepared for it.
However, the price action of Rocket Pool crypto is mildly bullish.
Aggressive investors can take the risk and grab this opportunity by accumulating RPL from current levels. But the conservative ones should wait for the clear visibility of direction to build any position.
Rocket Pool Price Needs Smart Money
Rocket Pool price needs the participation of big players. Until some whales inject the money into it, the price will lack momentum.
The trading volume is not impressive. Investors are likely to make short term bullish bets in RPL near the demand zone. In the future, when the direction will be clear, then adding up more quantity will be a smart choice.
Conclusion
RPL price prediction remains bullish for January 2024 till it holds $25.53 support. The range expansion is possible when big players come forward and inject their money.
Till then, Rocket Pool investors should play bullish bets from the demand zone and generate minor gains.
Technical levels
- Resistance Levels: $34.88 and $39.76
- Support Levels: $25.53 and $22.65
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto 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.
