Rocket Pool Rally Above Bearish Influence, Can It Sustain the Growth While WSM Remains a Contender?

Rocket Pool (RPL), the decentralized Ethereum staking platform, finds itself in a green market today, August 14, sparking interest among investors and enthusiasts.

With the recent market performance, many wonder if RPL is poised for a potential long-term uptrend. The community eagerly anticipates its next moves as the RPL continues to garner attention for its innovative approach to staking.

Rocket Pool Recent Moves

Since the launch of Rocket Pool ($RPL) has been on a roller-coaster ride, experiencing significant fluctuations.As of August 14, the coin is trading at $27.05 with a 24-hour trading volume of over $3 million. In the last 24 hours, the coin has seen a slight decrease of 0.5% of the price.

Despite the present sentiment, the coin has been bearish in the last 7- and 14-day trading period, dropping by 1.5% and 7.1%, respectively. However, the latest price movements and technical indicators now suggest the possibility of a trend reversal or rebound.

Rocket Pool Technical Price Review

The chart depicts that the RPL/USDT trading pair has surpassed the lower band of the Bollinger Bands indicator, which signifies potential shifts in its trend.This occurrence could signal a reversal from a downtrend to an uptrend, suggesting a market correction after a period of overselling.

Traders may view this as a buying opportunity to enter the market, expecting a short-term price bounce. Additionally, trading above the lower band may highlight increased price volatility and the formation of a support zone.The Relative Strength Index (RSI) measuring 39 suggests that the asset might be approaching an area of potential buying interest.

Simultaneously, the Moving Average Convergence Divergence (MACD) above the signal line supports the bullish narrative.The situation suggests crypto's short-term trend may turn positive. RPL might experience a bullish rebound soon.

RPLUSD Channel Down Technical Pattern

The Channel Down pattern is a technical chart formation indicating a possible decrease in trend.In the case of the RPL token, its price encountered a downward breakout from its previous pattern known as Channel Up.

However, the RPLUSD pair is approaching the upper side of the Channel-down pattern, which suggests that the bulls are building momentum to take back control.

As the coin approaches the upper boundary of the Channel Down technical pattern, anticipation grows for potential market movement. A breakout above the pattern or a continuation of the prevailing downward trend.

If the market breaks above the Channel-down, it will signal a buying opportunity, and the price may reach the major resistance point at $52.23. However, should the buyers fail to sustain the pressure, the price of RPL may drop toward the $24.29 support level.

Rocket Pool Expert's Price Prediction

Let's look at the RPL price prediction from prominent experts within the crypto industry. A recent analysis highlighted that $RPL had touched its notable Fib level and found support at $24 after facing a challenging period for nearly three months.

Meanwhile, some analysts have noticed a strong bullish divergence in its daily market movement, suggesting that the asset might have reached the oversold region. However, CoinCodex had a short-term pessimistic forecast for $RPL predicting that the coin will drop by 7% to $25.35 before recovering to $84.37 by 2024.

For $RPL, it's difficult to know where is the bottom.

Strong bull div daily
Very oversell
Bullish pattern reversal possible

It can easely pump 20% in a day;

spot or x3 leverage, patience and LAMBO gain possible.

Not a financial advice.#DYOR pic.twitter.com/rHnuxedl31

- Crypto_Jobs #crypto & TA magic charts (@CryptoJobs3) August 7, 2023

PricePrediction.net was positive but careful, mentioning a potential value of $46.03; while handling, DigitalCoinPrice was very optimistic, saying it could reach a value of $76.04 within this year.

Factor That Could Drive RPL Price

In an exciting development, Coinbase Ventures has strategically invested in Rocket Pool by purchasing RPL tokens directly from the Rocket Pool team.We know Rocket Pool's aligned belief. Delighted to support via Oracle DAO and operate nodes with ETH from the balance sheet," stated Coinbase.

Exciting news to share: Coinbase Ventures recently made a strategic investment into @Rocket_Pool by purchasing RPL tokens from the Rocket Pool team.

- Coinbase Ventures (@cbventures) August 10, 2023

This move not only demonstrates Coinbase's interest in the project but also aligns its goals with the growth and success of Rocket Pool.Such strategic investments often add credibility and resources to the project, potentially boosting its development and adoption in cryptocurrency.

Wallstreet Meme - The Standout Meme Coin Of The Year

>>>Visit Wall Street Memes Presale

Wall Street Memes ($WSM) is generating exceptional enthusiasm and attention in 2023 with its performance. The presale has skyrocketed, hinting at the potential for an extraordinary event for the year.

The $WSM creators excelled with Wall St Bulls NFTs, earning $2.5 million in just 32 minutes. Their success is impressive.

Given its robust community and successful presale, experts and watchers think $WSM could become the next super popular meme coin.Some believe it might become as famous as Pepe, Shiba Inu, or Dogecoin.

Also, popular crypto presale analysts Jacob Crypto Bury and Crypto Dose are optimistic about the coin, predicting 10X gains for $WSM.

Wall Street Meme's Unique Features And Tokenomics

Wall Street Memes crafted intelligent tokenomics for a robust foundation. This extends beyond the initial presale, showcasing commitment to long-term goals. An allocation of 20% of the $WSM supply is designated for liquidity on decentralized (DEX) and centralized (CEX) exchanges.

This strategic maneuver ensures smooth transactions and minimizes troublesome price fluctuations during trades. The project allocated 50% of its tokens for marketing initiatives and 30% for community rewards and airdrops. Also, the Wall Street Memes team seeks to raise awareness, entice investors, and foster adoption.

Successful marketing efforts stimulate heightened curiosity and demand for the token, which could contribute to potential price appreciation. Moreover, presale participants might get an exclusive $50K airdrop. The buzz is evident, with over 71,000 entries.

>>>Visit Wall Street Memes Presale

The best part is that thepresale is ongoing, offering an accessible opportunity to join in. Seize the chance to join this thrilling expedition with Wall Street Memes and ride the wave!

$WSM token trades at $0.00334. Interested investors can acquire the token on the official website using ETH/ USDT or buy directly using a bank card.

The post Rocket Pool Rally Above Bearish Influence, Can It Sustain the Growth While WSM Remains a Contender? appeared first on The Tech Report.