+55.62% in 24 hours has a way of making everything else on the chart look irrelevant.
Until you see the last 4H candle: a 13% rejection from the $1.07 high — right after the first red candle in 48 hours. Momentum is real, but the extension is stretched.
Structure is still bullish: 10 of the last 12 candles are green, EMA7 stacked above EMA25, RSI at 77 — hot but not diverging. Price ran from $0.36 to $0.88 in two days without a real pullback.
Futures internals whisper: funding negative at -0.03%, long/short ratio 0.58 — shorts paying to stay short while the crowd is net short. Classic squeeze fuel, but also a sign spot buyers are driving, not leveraged longs.
The level I'm watching on 4H: ~$0.84. That's the top of the unfilled bullish FVG and near the 0.382 Fib retracement. If $RLC holds above $0.84 on a 4H close, the next objective sits near $0.96 — just under the psychological $1.00.
Lose $0.84, and this read is off. Next support: $0.79–$0.80 pocket.
My read: trend intact, but the easy money's made. Risk-reward at $0.88 favors patience — consolidation above $0.84 or a deeper retest of $0.79 before the next leg.
Tap $RLC to pull up the chart and check these zones yourself. Which level are you watching more closely — $0.84 or the $1.00 area? 👇
Follow for the next read on this chart.
⚠️ Not financial advice. DYOR.
#RLC #iExec #Crypto #BinanceSquare
Until you see the last 4H candle: a 13% rejection from the $1.07 high — right after the first red candle in 48 hours. Momentum is real, but the extension is stretched.
Structure is still bullish: 10 of the last 12 candles are green, EMA7 stacked above EMA25, RSI at 77 — hot but not diverging. Price ran from $0.36 to $0.88 in two days without a real pullback.
Futures internals whisper: funding negative at -0.03%, long/short ratio 0.58 — shorts paying to stay short while the crowd is net short. Classic squeeze fuel, but also a sign spot buyers are driving, not leveraged longs.
The level I'm watching on 4H: ~$0.84. That's the top of the unfilled bullish FVG and near the 0.382 Fib retracement. If $RLC holds above $0.84 on a 4H close, the next objective sits near $0.96 — just under the psychological $1.00.
Lose $0.84, and this read is off. Next support: $0.79–$0.80 pocket.
My read: trend intact, but the easy money's made. Risk-reward at $0.88 favors patience — consolidation above $0.84 or a deeper retest of $0.79 before the next leg.
Tap $RLC to pull up the chart and check these zones yourself. Which level are you watching more closely — $0.84 or the $1.00 area? 👇
Follow for the next read on this chart.
⚠️ Not financial advice. DYOR.
#RLC #iExec #Crypto #BinanceSquare
