$RLC Setting up a short ... Resistance at 0.60 is the key
RLC became overextended after a sharp vertical rally, but the price is still trading below the supply zone between 0.58 and 0.60. If buyers cannot reclaim that zone, I expect a deeper mean-reversion move.
Entry: 0.55–0.58
First target: 0.52
Second target: 0.50
Next price: 0.495
Extended target: 0.45
Stop loss: 0.635
As long as the 0.60 level holds, I favor selling. Rejection from this zone could quickly send the move lower toward 0.50 first, then 0.45.
Trade on $RLC
RLC became overextended after a sharp vertical rally, but the price is still trading below the supply zone between 0.58 and 0.60. If buyers cannot reclaim that zone, I expect a deeper mean-reversion move.
Entry: 0.55–0.58
First target: 0.52
Second target: 0.50
Next price: 0.495
Extended target: 0.45
Stop loss: 0.635
As long as the 0.60 level holds, I favor selling. Rejection from this zone could quickly send the move lower toward 0.50 first, then 0.45.
Trade on $RLC
