RPL appears to be at a critical juncture on the weekly timeframe, having recently broken below its long-term descending trendline. The price is currently consolidating near the pivot level, which represents a key technical inflection point.
Current Setup:
Price trading below descending trendline resistance
RSI showing oversold conditions with potential for bounce
Critical pivot level at acting as immediate resistance
Bullish Scenario:
Reclaim of the pivot could trigger the projected upward path
Target the resistance zone around $28-32 (marked in red)
A break above the descending trendline would confirm trend reversal
Risk Factors:
Failure to reclaim pivot could lead to further downside
Overall crypto market sentiment remains a key factor
The setup suggests RPL is waiting for a decisive move above the pivot to initiate the bullish trajectory outlined in the chart projection.
Current Setup:
Price trading below descending trendline resistance
RSI showing oversold conditions with potential for bounce
Critical pivot level at acting as immediate resistance
Bullish Scenario:
Reclaim of the pivot could trigger the projected upward path
Target the resistance zone around $28-32 (marked in red)
A break above the descending trendline would confirm trend reversal
Risk Factors:
Failure to reclaim pivot could lead to further downside
Overall crypto market sentiment remains a key factor
The setup suggests RPL is waiting for a decisive move above the pivot to initiate the bullish trajectory outlined in the chart projection.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Find top crypto tokens with sector indices, AI-powered sentiment analysis & news summaries.
tokenradar.ai/tv
tokenradar.ai/tv
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.