✴️ Rocket Pool Looks Different, Which Is Good!

٤ يوليو ٢٠٢٣

Let's look at Rocket Pool (RPLUSD) next which has an interesting chart to me because the pattern is different to others.

First, I see strength here which is always great as we are bullish currently on this market.

Believe it or not we have a bearish moment as well but this is only when prices are either dropping or set to drop, as in late 2021 or early 2022.

Let's zoom in on the RPLUSD chart:

This Doji here is important as it works as a reversal signal with the next candle being the confirmation. A strong green candle that closes above EMA10.

Now zoom out and that's the main chart above.

The initial 2023 wave went for ~390%, more or less (~) and you can see the strong higher lows, March and July.

So, we have the Doji in July while other projects bottomed by mid-June, this is different.

Even while this pair bottomed just two days ago the price remains really strong, meaning that the next high or long-term potential as a Crypto to hold value is really good, based on the chart technicals.

I see the positive and for a reason... The RSI bottomed and is below 50 but this is good even though it can be read as "weak" or "bearish".

Knowing the current situation of the market...

The MACD is below zero which can be considered bearish but showing a bullish cross.

The positive of these two is that there is actually plenty of room for growth.

Just as when you are at a new All-Time High, the chances are huge for a drop.

Once you hit bottom, the only way to go is up.

We have a strong price action, this pair holding strong.
The indicators have gone through a reset because soon we will experience growth.

Namaste.