Market Overview for Rocket Pool/USDC (RPLUSDC) as of 2025-11-12

• Rocket Pool/USDC opened at $3.35 and closed at $3.17, down $0.18 over 24 hours.
• Volume spiked at key declines, particularly after 19:00 ET, with notable bearish momentum.
• RSI and MACD show overbought conditions reversed into oversold levels, suggesting exhausted bullish pressure.
• Price remains below the 20- and 50-period moving averages on the 15-minute chart.
• A strong bearish divergence appears between price and volume during the late ET sell-off.

Rocket Pool/USDC (RPLUSDC) opened at $3.35 on 2025-11-11 at 12:00 ET and closed at $3.17 at the same time on 2025-11-12. The pair hit an intraday high of $3.45 and a low of $3.15 over the 24-hour period. Total volume was 18,507.42 units, with a notional turnover of approximately $61,792.

The price action shows a distinct bearish slant, especially from 19:00 to 21:00 ET, when significant volume accompanied sharp price drops. A key support level appears to have formed around $3.15–3.17, with some consolidation occurring late in the day.

Structure & Formations

The 24-hour chart reveals a bearish continuation pattern, with several large bearish candles confirming downward momentum. A notable bearish engulfing pattern appeared around 20:45 ET, where a large red candle engulfed the preceding small bullish candle. This pattern is typically a strong short-term sell signal. Doji candles were observed at key levels such as $3.22 and $3.36, suggesting indecision or reversal points. Resistance appears to be forming around $3.35–3.36, where price has bounced back on multiple occasions.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are currently bearishly aligned below price action, indicating a short-term downtrend. The daily chart shows the 50-period, 100-period, and 200-period moving averages also in a descending order, which reinforces the bearish bias and suggests a continuation of the downward trend unless price breaks above the 50-period SMA.

MACD & RSI

The MACD line turned negative in the latter half of the 24-hour window, with a bearish crossover between the signal line and the MACD histogram. This confirms weakening bullish momentum. RSI dropped sharply from overbought territory to oversold levels, indicating a potential overreaction by sellers. However, RSI has yet to show signs of reversing back into neutral or bullish territory, which could delay any near-term rebounds.

Bollinger Bands

Price has remained below the middle Bollinger Band for most of the day, with a recent bounce near the lower band suggesting oversold conditions. Volatility expanded during the bearish moves, especially between 19:00 and 21:00 ET, when the bands widened significantly. A retest of the lower band near $3.17 may occur, but a sustained break below that level could trigger further declines.

Volume & Turnover

Volume spiked during the bearish phases, particularly after 19:00 ET when a large candle with volume of 1981.18 units signaled a strong short-term shift in sentiment. Notional turnover followed a similar trend, with significant drops in price coinciding with increased turnover. However, after the 00:00 ET mark, volume normalized while price remained in consolidation, suggesting a potential pause in selling pressure.

Fibonacci Retracements

Applying Fibonacci retracements to the key swing from $3.45 to $3.15, the 38.2% and 61.8% levels align with $3.32 and $3.23 respectively. Price tested the 61.8% level at $3.23 around 20:45 ET before breaking through, suggesting that sellers are in control. A retest of the 50% level at $3.30 could signal a short-term reversal, but a sustained break of the 61.8% level would likely see further support tested.

Backtest Hypothesis

The backtest strategy referenced in the prompt focuses on identifying a Bullish Engulfing candlestick pattern as a potential buy signal for Rocket Pool/USDC. Based on today’s 15-minute OHLC data, the RPLUSDC ticker experienced a few small bullish candles but no clear Bullish Engulfing pattern that would meet the criteria of a small bearish candle followed by a larger bullish one. Given that the ticker format appears to be valid, future backtests could use RPLUSDC for consistency. However, since no bullish engulfing pattern was detected today, the strategy would not have triggered a trade.