$RPL Faces Fierce Long Liquidation at $5.51 — Is This the Calm Before the Storm?
Rocket Pool ($RPL) just witnessed a heavy long liquidation worth $1.2326K at the critical support level of $5.51. This sharp shakeout may be signaling something bigger beneath the surface. When the market flushes out weak hands, smart money often steps in.
Technical Analysis:
Price Structure:
$RPL has been in a descending trend, making lower highs and lower lows. The recent liquidation hints at potential capitulation, often a precursor to trend reversal if the bulls regain control.
Strategic Zones:
Buy Zone:
Between $5.10 – $5.30
This zone is historically reactive and sits just below the liquidation point. It may serve as a high-probability entry if bullish volume returns.
Target Levels:
First Target: $5.85 (Immediate resistance, aligns with prior breakdown)
Second Target: $6.45 (Major resistance from previous consolidation)
Extended Target: $7.00+ (If bulls break out of descending channel)
Stop Loss:
$4.85
Below this level, the trend could continue lower with increased downside risk.
Conclusion:
The long liquidation event at $5.51 could mark a short-term bottom if accumulation follows. Patience and precision are key. Watch volume and candle structure around the buy zone. A strong bounce from here could flip sentiment rapidly.
Stay alert. The next move might surprise the market.
