FxWirePro- RPLUSD (Chart of the day)

Rocket Pool is a decentralized staking protocol providing liquid & and node staking products for the Ethereum (ETH) ecosystem.

Staking is the process of creating and maintaining one (or more) of these validators on the Beacon Chain to help the network maintain the consistency and security of the Ethereum blockchain.  

 Each validator in Ethereum 2.0 is required to lock exactly 32 ETH up as a "stake" in the networks. Rocket Pool nodes only need to deposit either 8 ETH or 16 ETH per validator. This will be coupled with 24 ETH or 16 ETH respectively from the staking pool (which stalkers deposited in exchange for rETH) to create a new Ethereum validator. This new validator is called a minipool.  Liquid takers can participate by depositing 0.01 ETH to receive a rETH token.

The creation, withdrawal, and rewards delegation is done on the execution layer. So this shows that they are completely decentralized.

Ichimoku Analysis  (4 hour chart)

Tenken-Sen- $32.64

Kijun-Sen- $32.38

RPLUSD performed well this week after a long consolidation.

Any daily close above $38 confirms further bullishness.

RPLUSD  gained more than 45% in the past four days. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $39 and is currently trading around $38.59.

The bullish invalidation can happen if the pair closes below $25. On the lower side, the near-term support is $30. Any break below targets $25. Significant downtrend if it breaks $16.

The immediate resistance stands at around $40. Any breach above confirms a minor pullback. A jump to $46.35/$50  is possible. A surge past $55 will take it to $65.

It is good to buy on dips around $30 with SL around $25 for TP of $50.