$RLC Surged Over 200% — But Is Another 25% Correction Coming?
iExec RLC has experienced an explosive rally over the past two days, but the move has not been accompanied by a clear major project-specific catalyst.
The rally appears to have been driven largely by speculative momentum, rapidly increasing derivatives activity, and a potential Short Squeeze.
Now, the technical structure is showing signs of exhaustion.
On the 4-hour timeframe, RLC failed to achieve a convincing breakout above its Resistance Lines and was rejected around the major Potential Reversal Zone (PRZ) at $1.00–$1.55.
Since then, price has already corrected by approximately 30%.
I expect RLC to potentially attempt another rebound toward the Cumulative Short Liquidation Leverage at $0.85–$0.94 and the nearby Resistance Lines.
However, if sellers regain control from this area, another correction of at least 25% could develop, with the Support Zone at $0.53–$0.66 becoming the next major downside target.
After such an aggressive rally, failure to reclaim the main resistance structure keeps correction risk elevated.
What comes first for RLC?
🟢 Reclaim $1.00
🔴 Another 25% correction
#iExecRLC