Market Overview: Rocket Pool (RPLUSDT) 24-Hour Technical Summary

Summary
• Rocket Pool (RPLUSDT) opened at $6.98 and closed at $6.92, down 0.86% with bearish momentum in the final 6 hours.
• Key support at $6.82 and resistance at $7.06 defined a tight trading range amid moderate volume.
• A bearish engulfing pattern emerged at $6.9–6.82, signaling short-term bearish bias.
• RSI dropped below 50, indicating weakening bulls, while volume surged during the late-night sell-off.
• Volatility expanded during the $6.58–7.07 swing, with price consolidating near the 50-period MA on 15-min.

Rocket Pool (RPLUSDT) opened at $6.98 and closed at $6.92 on July 24, with a high of $7.07 and low of $6.58. Total volume reached 124,676.39 units, with a notional turnover of approximately $832,894. Price action suggests a bearish consolidation phase amid a 24-hour range bound by $6.58 and $7.07.

Structure & Formations

Rocket Pool’s price action revealed a bearish engulfing pattern between $6.90 and $6.82, signaling potential bearish continuation. A key support level appears to be forming around $6.82–6.75, with a 61.8% Fibonacci retracement from the $6.58–7.07 swing landing near $6.77. Resistance is well-defined at $7.06 and $7.09, where the price stalled during the late-night rally.

Moving Averages

On the 15-minute chart, the 50-period moving average (around $6.87) appears to be a dynamic support zone, with the 20-period MA hovering slightly above it. Price has spent much of the 24-hour period consolidating near the 50-period MA, suggesting indecision. On the daily chart, the 50-period MA is near $6.88 and has held as a key reference point for traders.

MACD & RSI

The RSI dipped below 50 and approached the 40–45 oversold threshold during the morning sell-off, indicating weakening bullish momentum. The MACD crossed into negative territory during the 5–6 AM ET period, confirming the bearish shift. While RSI has rebounded slightly, it remains below neutral, suggesting that further downside could be in play unless buyers step in above $6.95.

Bollinger Bands

Volatility expanded during the $6.58–7.07 swing, with the Bollinger Bands widening significantly. Price has since consolidated within the bands, trading near the midline and 50-period MA. A break below the lower band would signal renewed bearish pressure, while a close above the upper band could trigger a short-term rally.

Volume & Turnover

Volume surged during the late-night sell-off, particularly in the $6.58–6.75 range, confirming the bearish move. Notional turnover spiked during this period, aligning with the price drop. A divergence appears between volume and price during the early morning rebound, suggesting that the rally may lack conviction.

Fibonacci Retracements

The 15-minute chart shows a key Fibonacci level at $6.82 (61.8% retracement of the $6.58–7.07 swing). Price has bounced off this level twice, indicating potential support. On the daily chart, the 61.8% retracement of the broader move is near $6.65, a level to watch for a potential deeper correction.

Rocket Pool may continue to consolidate within the $6.82–7.06 range over the next 24 hours, with a potential test of $6.75 if bearish momentum intensifies. Traders should remain cautious of a breakdown below $6.82, which could trigger a retest of the 61.8% Fibonacci level. As always, market conditions can shift rapidly, and a strong volume surge on the downside could accelerate the bearish scenario.