$RLC went from 0.9088 to 1.262 in the six hours since my last post, another 38.8%.
My trigger was a move back above the 1.085 weekly high with volume rising. Both are true now. Price sits about 16% above 1.085, and 24h volume grew from 27.5M to about 36M USDT, 2 times the 7-day average. By my own rule, the trend has another leg, and my worry about fading buyers was wrong for now.
A correction to that post too: I wrote the 7-day gain as if it were measured from the weekly low of 0.36. It is measured from the price 7 days ago. Today that 7-day change is 241%.
The numbers are now stretched. RLC is up 65.4% in 24 hours with BTC flat at -0.15%. It sits 0.4% under the new weekly high of 1.267, and hourly RSI is 80.8, the hottest reading I have seen on this coin since its first run.
This is where I stop chasing and start defending levels. The old high at 1.085 is now the line that matters. Price staying above it keeps the breakout valid. A fall back under 1.085 would mean the move above it failed, and after a 241% week that kind of failure usually comes fast.
#iExec #RLC
My trigger was a move back above the 1.085 weekly high with volume rising. Both are true now. Price sits about 16% above 1.085, and 24h volume grew from 27.5M to about 36M USDT, 2 times the 7-day average. By my own rule, the trend has another leg, and my worry about fading buyers was wrong for now.
A correction to that post too: I wrote the 7-day gain as if it were measured from the weekly low of 0.36. It is measured from the price 7 days ago. Today that 7-day change is 241%.
The numbers are now stretched. RLC is up 65.4% in 24 hours with BTC flat at -0.15%. It sits 0.4% under the new weekly high of 1.267, and hourly RSI is 80.8, the hottest reading I have seen on this coin since its first run.
This is where I stop chasing and start defending levels. The old high at 1.085 is now the line that matters. Price staying above it keeps the breakout valid. A fall back under 1.085 would mean the move above it failed, and after a 241% week that kind of failure usually comes fast.
#iExec #RLC