Summary
• Rocket Pool/USDC declines 2.67% over 24 hours, with a bearish close near session low.
• Volume spikes to 3682.43 at 04:45 ET, aligning with a sharp price drop to 2.93.
• RSI and MACD suggest weakening
, with RSI near oversold levels.
• Bollinger Bands show increased volatility, with price breaking down below the midline.
Market Overview
Rocket Pool/USDC (RPLUSDC) opened at 3.20 at 12:00 ET-1 and closed at 3.08 at 12:00 ET today, trading between 3.22 and 2.93. Total 24-hour volume amounted to 7,840.06, with a turnover of $24,843.49. The pair has shown a steady bearish bias, with strong downward momentum emerging after 18:15 ET as price broke key support levels.
Price action has been characterized by a sequence of bearish engulfing patterns and a deep retracement in the late hours of the session. A critical support level appears to be forming near 3.07–3.08, which has been tested multiple times with increasing volume. The 15-minute chart shows a breakdown below key moving averages, with 20 and 50-period lines trending lower, indicating a possible continuation of the downtrend.
MACD has turned negative with a bearish crossover, and RSI is near oversold territory (~27), suggesting a temporary pause in the selloff may be imminent, though a rebound could face immediate resistance around 3.11–3.12. Volatility, as measured by Bollinger Bands, has expanded sharply following the 4:45 ET plunge to 2.93, with the price now trading near the lower band.
Fibonacci & Key Levels
Applying Fibonacci retracement to the recent 15-minute swing from 3.22 to 2.93, the price has found support near the 61.8% level at ~3.07–3.08. A break below this could extend the move to the 78.6% level at ~2.98. On the daily chart, the 200-period MA offers potential long-term resistance or support depending on the near-term direction.
Backtest Hypothesis
To evaluate the robustness of this bearish setup, a backtest can be designed using the most recent swing low (identified via Zig-Zag or fractal indicators) as a sell trigger. For example, if the price closes below the most recent fractal low of 3.08, a sell signal is generated, with a target to exit at the next confirmed support at 2.98. A stop-loss could be placed just above the most recent resistance at 3.12. This approach would test whether a short bias on confirmation of support breaks is profitable over a 2022–2025 period.
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