Summary
• Price drifted lower on thin volume, breaking below key intraday support of 1.94.
• Divergence between price and volume seen mid-session, suggesting weakening conviction.
• RSI entered oversold territory near the close, hinting at potential short-term bounce.
Rocket Pool/USDC (RPLUSDC) opened at 1.97 on December 29 at 17:00 ET and traded in a tight range before closing at 1.92 at 12:00 ET on December 30. The 24-hour high was 1.97 and the low was 1.90. Total volume was 12,949.09, with a notional turnover of 24,681.02.
Structure & Formations
The price action showed a steady decline throughout the session, breaking below the 1.94 support level and consolidating around 1.92. A bearish engulfing pattern formed near 1.94, followed by a weak bullish candle near the close. The 1.92 level now appears as a short-term support.
Moving Averages
On the 5-minute chart, the price closed below both the 20-period and 50-period moving averages, signaling bearish momentum. The daily chart remains above the 50-period and 100-period MAs, suggesting a longer-term base may still hold.
MACD & RSI
The MACD line crossed below the signal line in the morning, confirming the bearish trend. RSI dipped into oversold territory near the close, hinting at a possible rebound. However, without a clear break above 1.94, momentum remains bearish.
Bollinger Bands
Volatility remained moderate, with the price hovering near the lower band for much of the session. A contraction in the bands before the break below 1.94 suggests a potential move, but no clear breakout has materialized.
Volume & Turnover
Volume spiked briefly during the mid-session decline but remained subdued overall. The largest single candle in turnover occurred at 21:15 ET with over 3,800 volume. A divergence between the lower price and lower volume suggests a lack of strong bearish conviction.
Fibonacci Retracements
Applying Fibonacci to the recent 5-minute swing from 1.97 to 1.90, the 61.8% retracement level is around 1.92. This aligns with the price consolidation and could act as a key near-term pivot.
A test of the 1.92–1.93 range in the next 24 hours could determine whether the downward drift continues or if a short-term rebound forms. Investors should be cautious of thin volume and potential choppy action in the absence of strong directional momentum.
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