$RPL Breakdown in Progress or a Trap for Bears?
RPL is trading at $6.91, down significantly on the day with a heavy -11.64% drop. Price just pierced below key support as selling pressure mounts, signaling weakness. But beware—volume spikes near bottoms can also signal reversal zones.
Key Levels to Monitor:
• Resistance Zone: $7.20
A reclaim of this level could ease bearish momentum and push price toward $7.45 and $7.65.
• Support Zone: $6.88
If this breakdown sustains, downside risk opens toward $6.60 and $6.40.
Trade Setup:
Bullish Entry: Only on reclaim above $7.20
• Target 1: $7.45
• Target 2: $7.65
Bearish Entry: Below $6.88 with confirmation
• Target 1: $6.60
• Target 2: $6.40
RPL is under intense pressure, with support failing and volume rising. If $6.88 holds as new resistance, sellers may drive price lower. A reclaim of $7.20, however, could shift momentum quickly.