$RLC
Down from $1.11 to $0.95 in 6 hours... Has a deeper correction begun?
A sharp drop after failing to hold above $1.10. The question is: Should we prepare for a bigger downward wave, or is $0.95 an accumulation zone?
My personal view: The correction is more likely to continue. Here's why:
· The peak at $1.4887 was a sharp speculative candle, and anyone who entered there is down more than 30%
· Volume declined after the peak, indicating momentum is drying up
· A break below $0.95 opens the way to $0.88, then $0.82, and possibly $0.70
Key levels:
· Resistance: $1.05, then $1.10
· First support: $0.95 (a break below it would accelerate the decline)
· Second support: $0.82–$0.86
My recommendation: Spot trading only, with no leverage. Wait for the price to stabilize and a clear support base to form before making any decision.
This is a personal opinion, not financial advice. The decision is your responsibility.
Tell us: Do you expect a deeper drop or a rebound from $0.95? 👇
#CryptoAnalysis #TradingSignals #crypto #cryptotrade #RLC
Down from $1.11 to $0.95 in 6 hours... Has a deeper correction begun?
A sharp drop after failing to hold above $1.10. The question is: Should we prepare for a bigger downward wave, or is $0.95 an accumulation zone?
My personal view: The correction is more likely to continue. Here's why:
· The peak at $1.4887 was a sharp speculative candle, and anyone who entered there is down more than 30%
· Volume declined after the peak, indicating momentum is drying up
· A break below $0.95 opens the way to $0.88, then $0.82, and possibly $0.70
Key levels:
· Resistance: $1.05, then $1.10
· First support: $0.95 (a break below it would accelerate the decline)
· Second support: $0.82–$0.86
My recommendation: Spot trading only, with no leverage. Wait for the price to stabilize and a clear support base to form before making any decision.
This is a personal opinion, not financial advice. The decision is your responsibility.
Tell us: Do you expect a deeper drop or a rebound from $0.95? 👇
#CryptoAnalysis #TradingSignals #crypto #cryptotrade #RLC