RPL 4H Analysis 🔥
RPL is currently trading at the lower boundary of a parallel ascending channel, which has acted as strong support multiple times in the past. The price action shows a clear higher high, higher low structure, indicating an ongoing uptrend.
Currently, the price is hovering around the key horizontal demand zone ($5.5–$5.8). This level has previously acted as a launchpad for aggressive bullish moves, and we are seeing early signs of accumulation again.
Bullish Scenario:
If the support holds, RPL is likely to retest the midline of the channel around $7, followed by a potential breakout toward the upper trendline near $9 – $9.5.
The risk/reward setup here is highly favorable for swing traders.
What to watch:
Hold above $5.5 = bullish continuation likely 🚀
Break below $5.5 = invalidation of structure ⚠️
📈 Conclusion:
Structure remains bullish. This is a textbook channel bounce setup with targets of $7 → $8.5 → $9.5 if momentum kicks in. Volume confirmation will be key.