🚀 RLC Doubled in Under a Day. Now It's Testing the Top
Three days flat. Then one straight line up.
The base: $0.34 to $0.39 from October 2 to 5, with equal lows, a change of character, and a clean break of structure on the way out.
The run: $0.39 to a high near $0.79 in about 16 hours. Roughly 2x, almost without a pause.
Now: $0.714, chopping between $0.665 and $0.79.
That last part matters. 👀
The top of this move is full of long wicks. Buyers pushed to $0.776, then $0.788, and both times got sold back down. A dip to $0.665 got bought just as fast. That's a market arguing with itself after a vertical run, and volume is fading while it argues.
One detail works in RLC's favor: 100% of its supply is already circulating, so there's no token unlock waiting to land on the rally. No clear news catalyst has surfaced either, though, so this move is running on flows.
The levels.
Break and hold above $0.79, and the run gets its next leg.
Lose $0.665, and the $0.55 shelf, the main pause on the way up, comes into play.
Below that, the $0.37 to $0.39 breakout zone is where the whole move started.
Vertical moves often build a range at the top before deciding. Let the range break first.
Next leg above $0.79, or a slide back to $0.55? 🔥
Not financial advice.
$RLC
$MOVR
$FIL
Three days flat. Then one straight line up.
The base: $0.34 to $0.39 from October 2 to 5, with equal lows, a change of character, and a clean break of structure on the way out.
The run: $0.39 to a high near $0.79 in about 16 hours. Roughly 2x, almost without a pause.
Now: $0.714, chopping between $0.665 and $0.79.
That last part matters. 👀
The top of this move is full of long wicks. Buyers pushed to $0.776, then $0.788, and both times got sold back down. A dip to $0.665 got bought just as fast. That's a market arguing with itself after a vertical run, and volume is fading while it argues.
One detail works in RLC's favor: 100% of its supply is already circulating, so there's no token unlock waiting to land on the rally. No clear news catalyst has surfaced either, though, so this move is running on flows.
The levels.
Break and hold above $0.79, and the run gets its next leg.
Lose $0.665, and the $0.55 shelf, the main pause on the way up, comes into play.
Below that, the $0.37 to $0.39 breakout zone is where the whole move started.
Vertical moves often build a range at the top before deciding. Let the range break first.
Next leg above $0.79, or a slide back to $0.55? 🔥
Not financial advice.
$RLC
$MOVR
$FIL
