RocketPool (RPL) and CurveDAO (CRV) Price Analysis: What to Expect?
Crypto Guide
Live News

Keeping up with all the cryptocurrency news and updates is not an easy task, but we are up to the challenge! This way we can help our readers to keep track of changes in these fast growing currencies. Just like our site, is willing to face this challenge and on their site, they compile the features, key elements, and recent news involving bitcoin casino sites and which are the best to try!

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

May 7, 2021      Dalmas Ngetich

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.

READ  What Is Sushiswap Protocol?

Day-Ahead and What to Expect

Technical 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

RocketPool Price Daily Chart for May 7

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.

READ  Crypto Market Update: Bitcoin (BTC) and Ripple (XRP)

Past Performance of CRV

The 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 Expect

CRV/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.

READ  Synthetix Joins Two Other DeFi Platform To Develop Pool Of Bitcoin-Backed Tokens

CRV/USDT Price Forecast

Curve Price Daily Chart for May 7

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.

#CRV/USDT #Curve #DeFi #RocketPool #RPL #RPL/USDT
Dalmas Ngetich
Dalmas Ngetich

Dalmas has been passionate about the blockchain and crypto space ever since he’s heard about it. As someone who’s been closely following the trends in the crypto space, Dalmas is excited about what lies ahead in this niche and is all set to explore it. While he’s been advocating crypto adoption for a number of years, he’s himself a HODLer, which makes his voice authoritative and credible.