Market Overview for Rocket Pool/USDC (RPLUSDC) – 2025-09-23

• Rocket Pool/USDC (RPLUSDC) closed 1.08% higher at 5.39 after a 10-hour bullish rally from 5.22.
• Momentum shifted sharply after 6:00 PM ET with volume spiking 5789.8 as price retested key support at 5.25.
• Bollinger Bands showed moderate volatility contraction during overnight consolidation before a late-AM breakout.
• RSI reached 68 at 9:00 AM ET, suggesting potential overbought conditions ahead of a 5.45 high.
• Price found key Fibonacci support at 5.35 (61.8% retracement) before bouncing on low-volume inertia.

Rocket Pool/USDC (RPLUSDC) opened at 5.28 on 2025-09-22 at 12:00 ET and closed at 5.39 on 2025-09-23 at 12:00 ET. The pair traded between 5.19 and 5.53, with a total volume of 16,844.61 and a notional turnover of $89,059.75.

The 15-minute candlestick pattern showed a bearish reversal at 5.25 followed by a sharp bullish thrust after 6:00 PM ET. A bullish engulfing pattern at 5.25–5.29 indicated a potential short-term bottom. A doji formed at 5.29, signaling indecision before a 5.36 recovery. The price then held above 5.30, suggesting a strong bullish bias.

Structure & Formations

Key support levels emerged at 5.25, 5.30, and 5.35, while resistance levels were identified at 5.38, 5.45, and 5.50. The most notable candlestick pattern was a bullish engulfing at 5.25–5.29 and a doji at 5.29–5.30, suggesting hesitation and potential consolidation. A takuri bullish candle formed at 5.39, indicating a potential continuation of the upward trend.

Moving Averages

On the 15-minute chart, the price crossed above the 20-period and 50-period moving averages, indicating a bullish bias. On the daily chart, the 50-period MA at 5.36 and the 200-period MA at 5.33 suggest a long-term bullish setup if price sustains above these lines.

MACD & RSI

The MACD line crossed above the signal line in the morning, confirming the bullish momentum. The RSI reached 68 at 9:00 AM and 64 at 12:00 ET, suggesting the asset is in overbought territory, though not excessively. This could signal a potential pullback or consolidation ahead.

Bollinger Bands

Volatility contracted overnight as price moved between 5.35 and 5.39, reaching a narrowest band width at 0.03 before expanding on the 5.45 breakout. Price is currently sitting within the upper band, indicating a strong bullish move with potential for further upside but also risk of a countertrend correction.

Volume & Turnover

Volume spiked sharply at 6:00 PM ET with 5789.8 units traded, confirming the 5.25 support break. However, the following bull move to 5.45 saw relatively moderate volume. The notional turnover peaked at $2,838.55 during the 5.45–5.42 consolidation. Price and turnover appear to be in alignment, though the divergence in volume during the 5.45–5.43 pullback may signal caution.

Fibonacci Retracements

A 61.8% Fibonacci retracement at 5.35 acted as a key support, which was confirmed with a low-volume bounce. The 38.2% level at 5.41 was also tested and held. The next Fibonacci target is at 5.50, which aligns with the 5.50 resistance level and could be a key area for traders to watch.

Backtest Hypothesis

The recent bullish action aligns with a backtesting strategy that looks to enter long positions on a bullish engulfing pattern followed by a breakout above a 20-period MA on the 15-minute chart, with a stop-loss placed below the 61.8% Fibonacci level. This setup was confirmed on 2025-09-22 at 6:00 PM ET and led to a 5.25–5.45 move. If RPLUSDC continues to trade above 5.35, the strategy suggests holding the position and targeting 5.50 with a trailing stop at 5.30. The RSI and MACD confirm the strategy’s assumptions, with the RSI staying in overbought but not extreme territory, and the MACD maintaining a positive divergence.