$RLC
Stability above $1... Is it paving the way to $1.5, or hiding a trap?
After the explosive jump from $0.85 to $1.45, the price seems to be trying to establish itself above the $1 level. But this stability is not as reassuring as it looks.
What concerns me:
· The recent rise was driven by a Short Squeeze (liquidation of short positions), not real demand
· $1.488 was a rapid top, and anyone who entered there is now down more than 30%
· The funding rate is still negative, which means the market is relying on leverage
Levels to watch:
· Critical support: $0.95 – $0.98 (a break below opens the way to $0.88)
· First resistance: $1.15** then **$1.25
My recommendation: spot trading only, and wait until the picture becomes clear. Don't chase the price at $1, and wait for a support retest before making any decision.
This is a personal opinion and not financial advice.
Tell us: Is RLC holding above $1 and heading to $1.5, or is a correction starting? 👇
#CryptoAnalysis #TradingSignals #crypto #cryptotrade #RLC
Stability above $1... Is it paving the way to $1.5, or hiding a trap?
After the explosive jump from $0.85 to $1.45, the price seems to be trying to establish itself above the $1 level. But this stability is not as reassuring as it looks.
What concerns me:
· The recent rise was driven by a Short Squeeze (liquidation of short positions), not real demand
· $1.488 was a rapid top, and anyone who entered there is now down more than 30%
· The funding rate is still negative, which means the market is relying on leverage
Levels to watch:
· Critical support: $0.95 – $0.98 (a break below opens the way to $0.88)
· First resistance: $1.15** then **$1.25
My recommendation: spot trading only, and wait until the picture becomes clear. Don't chase the price at $1, and wait for a support retest before making any decision.
This is a personal opinion and not financial advice.
Tell us: Is RLC holding above $1 and heading to $1.5, or is a correction starting? 👇
#CryptoAnalysis #TradingSignals #crypto #cryptotrade #RLC