Rocket

Galaxy

Resistance

Rocket Pool

<p><strong>Among the top 15 coins measured by the Galaxy Score, a proprietary metric that gauges crypto performance based on community metrics from across the web, Rocket Pool ($RPL) has been making waves.</strong></p> 
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 <img decoding="async" loading="lazy" width="1024" height="688" src="https://captainaltcoin.com/wp-content/uploads/2023/08/image-8-1024x688.png" alt="" class="wp-image-301921" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/image-8-1024x688.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-8-300x202.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-8-768x516.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-8-1536x1032.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-8-2048x1376.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-8-223x150.png 223w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-8-100x67.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-8-521x350.png 521w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-8-788x529.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-8.png 680w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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<p>Rocket Pool has been showing impressive market performance. The price of Rocket Pool has been on a steady rise, reaching a 24-hour high of $31.14. The 24-hour change showed a positive trend with an increase of 6.90%. The lowest it went in the same period was $28.49.</p> 
<p>The price has undergone a bearish breakout from its Channel Up pattern and has simultaneously plunged below the 200-day moving average at $38. Such movements typically signal a bearish reversal, indicating a shift to a downtrend.</p> 
<p>However, as RPL’s price hovers around the $30 support mark and enters an oversold state (as indicated by an RSI below 30), there’s a high likelihood of seeing a resurgence of buyer interest. This could potentially halt the downtrend and initiate a near-term price recovery. Traders and investors are advised to set price alerts to closely monitor this scenario.</p> 
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 <img decoding="async" loading="lazy" src="https://captainaltcoin.com/wp-content/uploads/2023/08/image-11-1024x573.png" alt="" class="wp-image-301979" width="760" height="425" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/image-11-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-11-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-11-767x429.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-11-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-11-2048x1146.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-11-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-11-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-11-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-11-788x441.png 788w" sizes="(max-width: 760px) 100vw, 760px"> 
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   Source: <a href="https://altfins.com/trade/dex?discountid=232" target="_blank" rel="noopener noreferrer nofollow">altFINS</a> 
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<p>The current trend analysis paints a similar picture. Regardless of the time horizon—short-, medium-, or long-term—RPL is witnessing a consistent downtrend. While this may initially seem unfavorable, the fact that the asset is oversold near a strong support level often predicts a potential upward price correction.</p> 
<p>Despite the bearish trend, there are indications that the momentum could be inflecting. The MACD Line lies below the MACD Signal Line, and the RSI is under 45, both verifying the ongoing bearish momentum. However, with the MACD Histogram bars showing a rise, it seems that the momentum could be bottoming out, indicating an upcoming upswing in the near future.</p> 
<p>When it comes to support and resistance levels, the nearest Support Zone is pegged at $30, followed by a further support level at $15. These zones could be instrumental in sustaining the price and could see heightened buying activity. In contrast, the Resistance Zones are set at $45 (which acted as the previous support), $55, and $65. These levels are likely to be robust tests for any potential uptrend and could cause a price reversal.</p> 
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<p>As of the latest data, the live Rocket Pool price is $31.65 with a 24-hour trading volume of $27,233,173. Rocket Pool is up 8.55% in the last 24 hours. The current CoinMarketCap ranking is #63, with a live market cap of $618,583,305. The market cap is also up by 7.5%. It has a circulating supply of 19,547,496 RPL coins. RPL also witnessed a 695% surge in 24-hour trading volume. </p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="699" src="https://captainaltcoin.com/wp-content/uploads/2023/08/chart-1024x699.jpeg" alt="" class="wp-image-301961" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/chart-1024x699.jpeg 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-300x205.jpeg 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart.jpeg 768w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-1536x1048.jpeg 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-2048x1397.jpeg 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-220x150.jpeg 220w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-100x68.jpeg 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-513x350.jpeg 513w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-788x537.jpeg 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
 <figcaption class="wp-element-caption">
   Source: <a href="https://coinstats.app/refer/CoinStatsAffiliate?fpr=petar29" target="_blank" rel="noopener noreferrer nofollow">Coinstats</a> 
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<p>In conclusion, while the prevailing trend and momentum for Rocket Pool (RPL) are bearish, there’s an emerging pattern of oversold conditions near a strong support level. This situation presents a potential opportunity for buyers. However, it’s crucial to tread carefully in these market conditions, employing stop-loss and take-profit levels to effectively manage risks. The momentum inflection and the clear Support and Resistance Zones may give way to engaging trading prospects in the forthcoming days.</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/rocket-pool-rpl-signals-price-recovery-amidst-bearish-trend-buying-opportunity-ahead/">Rocket Pool (RPL) Signals Price Recovery Amidst Bearish Trend, Buying Opportunity Ahead?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Rocket Pool (RPL) Signals Price Recovery Amidst Bearish Trend, Buying Opportunity Ahead?

CaptainAltcoin

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