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- The RPL crypto is facing rejection from the most recent swing high.
- The Rocket Pool crypto price has advanced by more than 2.5% in the last 24 hours.
RocketPool is a decentralized Ethereum staking pool offering rewards and tools for ETH holders. Its token, RPL, is used for network operations and staking. Launched in the year 2021 by David Rugendyke, Rocket Pool crypto is built on the Ethereum platform.
The spot trading volume of Rocket Pool crypto has slightly advanced by 5.25% in the last 24 hours and an advance of 1.7% in its market cap as per CoinMarketCap. That makes it the 103rd largest crypto in the crypto market. It also is trading 29000% above its all-time low price.
The current market cap dominance of the RPL crypto is 0.031% as per Coingecko. Additionally, the circulating supply of the crypto is 19.991 Million RPL. It further results in a fully diluted market cap of $551.278 Million.
Rocket Pool Crypto Derivative Data Analysis
The RPL token’s volume has witnessed a decline of 2.3% in the derivative trading volume in the last 24 hours. Also, there is no significant change in the liquidation of the crypto and the open interest of the Rocket Pool has declined by 2.8% resulting in $735.21K.
RPL Crypto Technical Analysis
The RPL crypto is forming lower low swing on the charts, indicating a downtrend on the chart. It shows that the crypto price is following declining momentum and might lead to further lows in the future.
Despite that, if the crypto price breaks above the level of $36.7, it might lead to higher levels as it will result in a change of character to bullish.
RPL/USD Chart by TradingView.com
The 50-day and the 200-day EMAs have overlapped each other, indicating uncertainty and volatility in the RPL crypto price. The Bollinger band is also trading flat indicating a range-bound scenario in the crypto price.
The RSI on the daily chart of Rocket Pool crypto has declined below the 50-level and is overlapped above the 14-day SMA. This behavior of the indicator represents bearish to uncertain momentum.
Conclusion
Rocket Pool is an innovative project that offers a platform for Ethereum staking. However, the price has been facing resistance and is forming lower lows on the chart. The technical indicators are also showing signs of weakness and uncertainty. The RPL crypto could be in for more downside unless it breaks above the key level of $36.7.
