Rocket Pool (RPL) has performed relatively poorly in 2024, declining by over 60%. On Sept. 7, the price risked a breakdown from a nearly three-year
After a lengthy period of underperformance in 2024, with a price decline of over 60%, Rocket Pool (RPL) seemed destined for another dismal year.
However, on Sept. 7, the price risked a breakdown from a nearly three-year horizontal support area but bounced once it reached it. Two days later, the price increased sharply after Binance announced the listing of RPL futures.
Is this the catalyst that RPL desperately needs to end its downtrend, or will the rally be unsuccessful, adding to the other failed recoveries this year? Let's analyze the price action and technical indicators to determine the possible direction of RPL.
Binance Announces Rocket Pool Futures
According to an announcement on Sept. 9, Binance has listed RPL/USDT perpetual futures with up to 75x leverage and a capped funding rate between -2% and 2%. Notably, Rocket Pool is a liquid staking solution on the Ethereum blockchain that competes with Lido DAO.
It is crucial to highlight that Binance not only added a new pair but also listed RPL futures for the first time. There are no other pairs available besides the recently added RPL/USDT pair.
Following the announcement, the RPL price surged by 40%, moving from $9.66 to $13.26 in an hour. Though RPL has cooled down since then, it still trades over 20% higher than its pre-listing price.
Analyzing RPL's Lengthy Correction on the Weekly Chart
On the weekly chart, we can observe that the Rocket Pool token has been declining under a descending resistance trend line for the past 518 days. Specifically, the decline is contained within a descending resistance trend line that spans from the all-time high of $63.80 in April.
This downward movement could be interpreted as a completed A-B-C correction, where waves A:C had a 1:0.618 ratio, which is often seen in these types of corrections. If this count is valid, then the correction ended in August with a bounce at the long-term $9.50 horizontal support zone. This marks a significant level below which RPL has not traded in over two years.
However, the weekly indicators do not fully support this scenario. Both the RSI and MACD are both bearish, sloping down and below their bullish thresholds. Additionally, the Relative Strength Index (RSI) shows a minimal bullish divergence, while the MACD has yet to generate a bullish cross.
Hence, the weekly time frame does not provide a clear confirmation for a breakout.
Le prix RPL éclate sur le graphique quotidien
En passant au délai quotidien, nous pouvons voir que le prix du RPL semble être sorti d'une tendance en coin descendant. La forme du motif s'aligne sur le décompte à long terme, suggérant que l'onde C s'est développée en une diagonale finale.
Contrairement au calendrier hebdomadaire, le RSI et le MACD quotidiens présentent tous deux des divergences haussières (marquées en vert), augmentant la possibilité d'une nouvelle augmentation des prix.
Si cela continue, la zone de résistance la plus proche est à 22,10 $, créée par le niveau de résistance de retracement de Fibonacci de 0,5. Cet objectif pourrait également confirmer une cassure de la ligne de tendance à long terme, en fonction de la clôture hebdomadaire.
Conclusion : le prix du RPL est sur le point d'augmenter encore
Le prix du RPL a fortement augmenté suite à l'annonce par Binance de coter ses futures sur sa plateforme. Ce rebond s'est produit au niveau d'une zone de support horizontale critique et pourrait potentiellement marquer la fin d'une longue correction.
La cassure de la configuration en biseau à court terme soutient également ces perspectives. Le prix est maintenant prêt pour une nouvelle hausse, la prochaine zone de résistance se situant autour de 22,10 $.
The above is the detailed content of Rocket Pool (RPL) Price Breaks Out From Downtrend After Binance Announces Futures Listing. For more information, please follow other related articles on the PHP Chinese website!

Binance will list Toncoin (TON) and open spot trading for the TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY pairs at 10:00 UTC today

On-chain data shows the Binance exchange has received large net Bitcoin inflows during the past day, indicating that BTC's decline may extend further.

This decision comes amid the ongoing legal proceedings against Binance, one of the world's leading cryptocurrency exchanges.

Floki (FLOKI) has announced that Binance, the world's largest crypto exchange, will support the upcoming airdrop of Simon's Cat for holders of the FLOKI token.

TONCOIN has finally been listed on the largest crypto exchange Binance today at UTC 10. With this announcement hitting the internet, TonCoin surged by 14%

Toncoin (TON) has surged 15% following its listing on Binance, capturing significant attention in the crypto market. With the world's largest crypto

The United States Securities and Exchange Commission (SEC) no longer asks the court to decide and deem the tokens named in its lawsuit against the crypto exchange

Binance Coin (BNB) is the native cryptocurrency of the Binance exchange, launched in July 2017 through an Initial Coin Offering (ICO). Initially issued as an ERC-20 token on the Ethereum blockchain, BNB has since migrated to Binance's own blockchain,

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

AI Hentai Generator
Generate AI Hentai for free.

Hot Article

Hot Tools

Dreamweaver CS6
Visual web development tools

SecLists
SecLists is the ultimate security tester's companion. It is a collection of various types of lists that are frequently used during security assessments, all in one place. SecLists helps make security testing more efficient and productive by conveniently providing all the lists a security tester might need. List types include usernames, passwords, URLs, fuzzing payloads, sensitive data patterns, web shells, and more. The tester can simply pull this repository onto a new test machine and he will have access to every type of list he needs.

MantisBT
Mantis is an easy-to-deploy web-based defect tracking tool designed to aid in product defect tracking. It requires PHP, MySQL and a web server. Check out our demo and hosting services.

mPDF
mPDF is a PHP library that can generate PDF files from UTF-8 encoded HTML. The original author, Ian Back, wrote mPDF to output PDF files "on the fly" from his website and handle different languages. It is slower than original scripts like HTML2FPDF and produces larger files when using Unicode fonts, but supports CSS styles etc. and has a lot of enhancements. Supports almost all languages, including RTL (Arabic and Hebrew) and CJK (Chinese, Japanese and Korean). Supports nested block-level elements (such as P, DIV),

ZendStudio 13.5.1 Mac
Powerful PHP integrated development environment
