Deep Dive
1. Technical context
The 7-day RSI at 82.11 (above 70 = overbought) signaled exhaustion after RPK’s 37% weekly surge, inviting profit-taking. Prices rejected at the 23.6% Fibonacci retracement ($0.0016497), a common resistance level after rallies.
The 200-day SMA ($0.0018983) remains 41% above current prices, underscoring a longer-term bearish trend. Meanwhile, the MACD histogram turned positive (+0.0000776) but lags behind the negative signal line (-0.0000658), suggesting fleeting bullish momentum.
2. Market dynamics
Bitcoin’s dominance rose to 60.46% (from 61.01% yesterday), reflecting a mild rotation toward safer large caps amid a 44 Altcoin Season Index (neutral zone). Total crypto volume fell -22.05% in 24h, thinning liquidity for smaller alts like RPK.
While the broader market shows Greed (64/100), altcoins face headwinds: ETH dominance dipped to 11.7% (from 11.59% yesterday), and perpetuals funding rates for top alts lag Bitcoin by -0.00099823%, signaling weaker speculative demand.
Conclusion
RPK’s drop combines profit-taking from overbought levels and a liquidity squeeze as Bitcoin regains momentum. With neutral altcoin sentiment and no project-specific catalysts, traders may watch whether RPK stabilizes above its 7-day SMA ($0.00088829) or retests the swing low ($0.0005268).
Could Bitcoin’s dominance climb above 61% further pressure altcoins, or will RPK’s high turnover (1.09) attract dip-buyers seeking volatility?