$RLC
Yesterday it was at $1.03, and today it hasn't even reached $1... instead, it settled at $0.905. 📉
The decline is no passing blip. The price has lost more than 12% in 24 hours, and selling pressure remains clearly visible on the chart.
What I’m seeing now:
· The price is below MA20 (1.02865) and MA5 (0.99982), meaning the moving averages are in a bearish alignment
· MACD is negative at -0.004999, and bearish momentum has not yet reversed
· RSI is at 47.3, a neutral zone leaning toward weakness—not oversold enough to justify a rebound
The levels I’m watching:
· First support: $0.90 (a break below opens the way to $0.82)
· Second support: $0.73 (the previous low)
· Resistance: $0.95, then $1.00 (failure to break above them means selling pressure will continue)
The funding rate remains negative at -0.20%, meaning sellers are paying to maintain their positions. This suggests that leverage is contributing to some of the selling pressure, and a mass closure of short positions could trigger a sudden rebound.
My view: The correction is not over yet. Any rebound needs a close above $0.95 on genuine volume. Without that, staying below $0.90 keeps the bearish scenario in play.
My recommendation: Spot trading only, with no leverage, and don’t commit all your funds before stability above $0.90 is confirmed. Risk management matters more than profit.
This is a personal opinion, not financial advice. The final decision is your responsibility.
Tell us: Do you expect a rebound from $0.905 or a breakdown toward $0.82? 👇
#CryptoAnalysis #TradingSignals #crypto #cryptotrade #RLC
Yesterday it was at $1.03, and today it hasn't even reached $1... instead, it settled at $0.905. 📉
The decline is no passing blip. The price has lost more than 12% in 24 hours, and selling pressure remains clearly visible on the chart.
What I’m seeing now:
· The price is below MA20 (1.02865) and MA5 (0.99982), meaning the moving averages are in a bearish alignment
· MACD is negative at -0.004999, and bearish momentum has not yet reversed
· RSI is at 47.3, a neutral zone leaning toward weakness—not oversold enough to justify a rebound
The levels I’m watching:
· First support: $0.90 (a break below opens the way to $0.82)
· Second support: $0.73 (the previous low)
· Resistance: $0.95, then $1.00 (failure to break above them means selling pressure will continue)
The funding rate remains negative at -0.20%, meaning sellers are paying to maintain their positions. This suggests that leverage is contributing to some of the selling pressure, and a mass closure of short positions could trigger a sudden rebound.
My view: The correction is not over yet. Any rebound needs a close above $0.95 on genuine volume. Without that, staying below $0.90 keeps the bearish scenario in play.
My recommendation: Spot trading only, with no leverage, and don’t commit all your funds before stability above $0.90 is confirmed. Risk management matters more than profit.
This is a personal opinion, not financial advice. The final decision is your responsibility.
Tell us: Do you expect a rebound from $0.905 or a breakdown toward $0.82? 👇
#CryptoAnalysis #TradingSignals #crypto #cryptotrade #RLC