RocketPool (RPL) and CurveDAO (CRV) Price Analysis: What to Expect?

Table of Contents

Curve and RocketPool are reversing losses of late Apr. In a buy trend continuation, RPL/WETH could rally towards 0.009 ETH. On the other hand, CRV/USDT could reach $4.6.

RocketPool (RPL)

Once Eth2 is alive, users with less than 32 ETH can still earn yields by delegating through the RocketPool. The DeFi protocol has its token RPL.

Past Performance of RPL

The RPL price is relatively stable against BTC, ETH, and USD on the last trading day.

Reflecting this stasis is volumes that are also flat-lining, steady at around $4.3 million.

In all, RPL prices are in range, trading in a tight $1 zone with caps at $20 and $21.

Day-Ahead and What to ExpectTechnical candlestick arrangements of RPL/WETH point to support after losses of last month.RPL is within a bearish breakout pattern, trickling lower below the 20-day moving average.Although there are hints of support, RPL bulls would be in contention once there is a close above the middle BB.

RPL/WETH Technical Analysis

There is a three-bar bullish reversal pattern from the 61.8 Fibonacci retracement level of the Q1 2021 trade range.The level coincides with the 0.005 ETH level.For RPL buyers to take charge, there must be a high-volume close above 0.006 ETH and the middle BB. In that case, the first target will be Apr 2021 highs of 0.009 ETH.Curve (CRV)Curve is a DEX for stablecoins using CRV being its in-house token.

Past Performance of CRVThe CRV price is trading at $3.4 as of writing.At spot rates, it’s restrained within a $0.30 in the last few hours between $3.12 and $3.42. The bright side is on the gains of last week.With rising trading volumes (participation)—at $352 million, the token has the upper hand versus BTC, ETH, and USD, adding roughly eight percent on the last day.Day-Ahead and What to ExpectCRV/USDT price action indicates bulls. The primary support trend line is valid. CRV’s valuation is gradually rising in sync with impressive gains of Q1 2021.The bull trap of Apr 15 didn’t faze traders who are ramping up the CRV dips in anticipation of more gains.Mar 2021 highs at $3.5 remain as the immediate resistance level.

CRV/USDT Price Forecast

The uptrend is firm, as CRV/USDT candlestick arrangement shows. The $3.5 level is the first sell wall.A close above this mark may catalyze demand as bulls flow back, driving CRV towards Apr 2021 highs of $4.6.The primary support trend line and $2.2 form a buy zone.

Tags

Share this post:

Share on facebook
Share on twitter
Share on pinterest

Post comment

Your email address will not be published. Required fields are marked *