The Rocket Pool (RPL Crypto) extended its rally, jumping nearly 6.42% in the morning session on Wednesday. The price is trading higher for the second consecutive session and was hovering near the weekly highs at the time of writing.
It was observed that RPL crypto is riding a bullish wave for the last five weeks indicating a bullish outlook in the short term. The price has some more room to hover on the higher side till the $35 level.
The long term trend outlook is showcasing volatility and a sideways trend outlook. The price is hovering in a range with sellers dominating near the $35 level. The buyers have established themselves near the $25 level.
The breakout or breakdown on either side may decide the next clear movement in the crypto. Moreover, the sentiment in the overall crypto market is bullish which may trigger a breakout in the crypto.
At the time of writing, the Rocket Pool crypto was trading at $34.4 with a 6.42% intraday spike. The crypto is trading near the highs and registered more growth by the end of the session.
The Rocket Pool Volume Analysis
The volume analysis shows that the RPL crypto has a daily volume of $14.83 Million, which is 16.83% higher than the previous day. It has a live market capitalization of $695.91 Million and ranks 123rd in the overall crypto market.
Also, it has a volume-to-market cap ratio of 2.19%, indicating low volatility in the crypto.
RPL Crypto Indicator Analysis
The technical indicators imply a mixed short-term outlook. The price shows frequent crossovers of the key exponential moving averages including the 20, 50 and 200 Days EMAs highlighting a sideways trend.
At the time of writing, the RSI line shows a bullish crossover of the SMA line suggesting a bullish outlook in the short term. Also, the MACD lines show a bullish crossover and the divergence indicates the continuation of a short-term bullish outlook.
RPL Crypto Price Prediction March 2024
On the higher side, the $35 level may act as a supply zone and turn out as a hurdle for the buyers. The optimistic view of our analyst suggests that the RPL price could reach a high of $40 if the buyers surpass the hurdle of $35. Moreover, the bearish view of our analysts hopes for the price to reverse its course from the supply and drop to lower levels of $30 and $25.
Rocket Pool Crypto Price Prediction 2024
The analysts have a wide range of price targets for the year 2024. The most positive view of analysts assumes the price could advance to a high of $61.20 on the higher side. The lower price target for RPL crypto is $48.57 by the year-end.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
