Rocket Pool Price At Monthly Low. Is RPL Ready For A Rebound

Rocket Pool Price At Monthly Low. Is RPL Ready For A Rebound – Our Experts Predict

Updated: 20 July 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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The decentralized Ethereum staking platform, Rocket Pool (RPL), is at a monthly low, sparking interest among investors and enthusiasts. With the recent market turbulence, many wonder if RPL is poised for a potential rebound.

As the project continues to garner attention for its innovative approach to staking, the community eagerly anticipates its next moves to ascertain its path toward recovery.

As of 5:30am EST, the coin is trading at $32.75 with a 24-hour trading volume of over $6 million. In the last 24 hours, the coin has plunged by over 3%.

Price Movements of Rocket Pool ($RPL)

Rocket Pool ($RPL) has seen volatile price fluctuations since its Q1 2023 launch at $25, currently trading at $32.75, nearing its initial price with a 23% decline. Following a recent rebound on July 14, there are indications of a potential trend reversal or rebound from the monthly low at $31.33.

Technical Indicators Signals Potential Price Rebound

According to the daily chart, RPL/USDT is trading below the lower part of the Bollinger Bands Indicator, considered oversold.

The asset’s oversold Relative Strength Index (RSI) at 29 and the bearish signal from the Moving Average Convergence Divergence (MACD) below the signal line indicate a potential downtrend and buying opportunity for traders anticipating a price bounce back.

Potential Trend Reversal As Nears Monthly Low of $31

RPL/USDT price has been trading below the bearish trendline, limiting a potential breakout. Despite two failed attempts between April 16 and June 6, recent price action near the monthly low suggests a possible trend reversal and a potential break of the trendline resistance.

Recent Development Within Rocket Pool Ecosystem

Spool DAO has decided to warmly embrace Rocket Pool onto its DeFi access infrastructure platform in an exciting development.

🔷 Hello Spoolers, we have another major integration to announce today!@Rocket_Pool is joining the new strategies and technologies we are bringing in as part of $Spool V2, with $rETH as a deposit option, & Rocket Pool Staking as a new strategy.
👇https://t.co/b6cKbtbjDc pic.twitter.com/Y3EUBd5dLm

— Spool (@SpoolFi) July 12, 2023

Rocket Pool, known for its decentralized Ethereum staking services, has partnered with Spool to introduce an innovative liquid staking token (LST) strategy, utilizing the native rETH token for deposits. This collaboration marks a major milestone for Spool in its mission to offer the best of DeFi, potentially boosting investor confidence and interest in the coin.

This development demonstrates the platform’s commitment to innovation and attracting more users, which could increase demand for RPL tokens and potentially drive up their price.

Prominent Youtube Influencer Predicts the Upcoming Meme Coin Set To Skyrocket on Uniswap Soon

The forthcoming South Park-inspired ‘Burn Kenny’ token boasts a low hard cap presale of $500,000. Analysts predict its Uniswap launch by Friday as the presale begins at 18:00 CET on Thursday.

Burn Kenny ($KENNY) aims to emulate the success achieved by Mr. Hankey in its fundraising endeavor. Enthusiasts eager to catch the next low-cap gem’s rise might secure $KENNY coins tonight.

With its debut on Uniswap on the horizon, Burn Kenny ($KENNY) enters the meme coin scene, and its public token presale is slated to commence at 18:00 CET on Thursday.

Burn Kenny’s ($KENNY) Tokenomics

Burn Kenny is offering 4isof the initial $KENNY total supply during its presale, which amounts to 2.666 million. With a fixed price of $0.0001875 for each token, the market cap will be $1.25 million.

Furthermore, Burn Kenny integrates an inherent burn mechanism designed to generate deflation, resulting in a gradual rise in the value of $KENNY over time.

With a strategic allocation of 30% of the token supply for future token burns, the team demonstrates a proactive approach to strengthen the token’s worth.

To ensure smooth trading, 30% of the tokens are reserved for decentralized exchange (DEX) liquidity.

Notably, the team commits to locking this liquidity, a rare step in the scam-prone cryptocurrency realm, which will likely instill higher confidence levels in the project.

How to Buy $KENNY?

Embark on the $KENNY adventure by acquiring tokens during the presale phase, where 40% of the total supply is up for grabs.

After the pre-sale ends, $KENNY will debut on a Decentralized Exchange (DEX), enabling direct trading of your preferred cryptocurrency for $KENNY tokens. Here’s a straightforward guide: