$RLC was crazy! In half an hour it shot straight from 0.85 to 1.488, volume exploded, and then it dumped right after the pump. Now it has fallen below $1, with the current price at 1.016.
The 1-hour chart is very clear: it climbed steadily at first, then suddenly surged in a parabolic move, and distribution happened right at the top. Short-term bears are in control.
MA7 is acting as resistance, while the mid-term moving averages are still bullish. The overall structure is not damaged; this is just a normal pullback to digest the move.
Support is at 0.97-1.00, and if that breaks, it could move to 0.85-0.88; resistance is at 1.05-1.15.
Don’t chase the top or short the bottom. Wait for a pullback to around 0.90 to stabilize before trying a small long position, or take a short on a rebound failure. Use strict stop-losses and keep positions small.
For this kind of high-volatility coin, quick in and quick out is the safest.
The 1-hour chart is very clear: it climbed steadily at first, then suddenly surged in a parabolic move, and distribution happened right at the top. Short-term bears are in control.
MA7 is acting as resistance, while the mid-term moving averages are still bullish. The overall structure is not damaged; this is just a normal pullback to digest the move.
Support is at 0.97-1.00, and if that breaks, it could move to 0.85-0.88; resistance is at 1.05-1.15.
Don’t chase the top or short the bottom. Wait for a pullback to around 0.90 to stabilize before trying a small long position, or take a short on a rebound failure. Use strict stop-losses and keep positions small.
For this kind of high-volatility coin, quick in and quick out is the safest.