Over $RLC 24 hours, the price rose 17.80%, but the most recent completed 1-hour candle closed down 7.25%, falling from 0.856 to 0.7581. This pullback occurred with hourly trading volume at just 0.95x—volume did not increase, suggesting the decline was not accompanied by concentrated selling, but there was no clear buying support either. Meanwhile, open interest rose 26.89% over 24 hours, and the funding rate points to high holding costs and a risk of crowded positioning. To determine whether this pullback is a shakeout or a trend reversal, watch the low of this 1-hour candle at 0.7411: the bullish structure remains intact only if a subsequent hourly candle closes back above 0.7581 on increased volume. If the price closes below 0.7411, this upswing should be considered invalidated. An increase in total open interest alone only indicates rising market participation; it does not reveal whether traders are adding long or short positions.
