RLC has triggered an alert. It was up as much as 76% over 24 hours, but the current price has already fallen to 1.085, down 37.21% from its high of 1.488. The volume ratio is only 0.4x, indicating there is virtually no buying volume to support the price at this level. Most of the money that drove the rally has likely already exited.

The moving-average structure has broken down: MA7 is at 1.076 and MA25 at 1.181, with a short-term bearish alignment. The price is struggling near MA7. RSI is 33, indicating weakness, but it has not reached extremely oversold territory, which suggests there may be further downside. Near-term support is at 0.852, with resistance at 1.488. The current price is hovering between the two, with neither level close at hand—an uncomfortable position.

The derivatives market is more noteworthy. The funding rate is -0.0245%, with shorts paying, which indicates crowded short positions. Open interest is down 11.21%, meaning money is exiting rather than new capital coming in. This move from 0.7066 to 1.488 and then back down is a classic short squeeze followed by a reversal to harvest gains; a batch of late longs have already been trapped.

As for trading, I wouldn’t recommend entering at the current price of 1.085. If you want to go long, wait for a pullback near 0.852 and see whether support holds; reassess if it gets there. Set a stop-loss below 0.80, with an initial target at the MA25 around 1.18. If you want to go short, don’t chase at an RSI of 33. Consider it after a rebound into the 1.15–1.18 range, with a stop-loss above 1.25. There have already been three top/bottom warnings within 24 hours. With an asset that keeps producing these sharp wicks, keep your position size small.

In short: the most profitable part of this move is already over. Entering now would just mean lifting someone else’s bags. Wait for the price structure to stabilize.

Quick stats: Current price 1.085 | 24h +34.72% | Volume ratio 0.4 | RSI 33 | Funding rate -0.0245%

That’s all for now. Please be mindful of the risks.

—— 16:38 Market notes