Rocket Pool Price Forecast: Over 50% Rally as Open Interest Hits Record

After soaring 37% in two days, Rocket Pool pricing rises 50% on Tuesday.
Coinglass data reveals record RPL open interest.
RPL launched its first on-chain referendum to change Protocol DAO governance criteria.
After surging 37% in the past two days, Rocket Pool (RPL), a decentralized liquid staking mechanism that rewards Ethereum (ETH) holders, increases its surge by 50% on Tuesday. Coinglass statistics show record RPL open interest, supporting this price rise. The Protocol DAO's first on-chain vote to change governance thresholds was live, according to RPL.
Rocket Pool pricing doubles.
Rocket Pool rose 31.5% on Sunday after breaking over the declining trendline linking various highs since early December. RPL rallied 4.22% on Monday after retesting the trendline. On Tuesday, it gained almost 40%, smashing weekly resistance of $9.42.
If RPL breaks weekly resistance at $9.42, it will rise to daily resistance at $13.26.
The Relative Strength Index (RSI) is over 50, suggesting bullish momentum. On Sunday, the Moving Average Convergence Divergence (MACD) indicator exhibited a bullish crossing, signaling a rally continuance.
Rocket Pool OI supports the positive view. According to Coinglass, exchange RPL futures OI climbed from $2.30 million on Sunday to $15.92 million on Monday, a new record. An growing OI indicates fresh money entering the market and purchasing, suggesting a Rocket Pool price increase.
The first on-chain vote to alter Protocol DAO (pDAO) governance criteria went live in February, according to RPL. Voting reduces the quorum required for proposals and vetoes, part of their governance process. This changes Rocket Pool ecosystem decision-making, making governance more nimble or transferring power.
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