$RLC jumped 34.8% in a day while BTC fell 1.78%. Over seven days it is now up 143.7%, from a low of 0.36 to 0.9088 today.
This coin does not want to stay down. It is still 16.2% under the weekly high of 1.085, but every dip this week has been bought back.
The one number that gives me pause is volume. About 27.5M USDT traded in 24 hours, 1.7 times the 7-day average. On a 35% day, I would expect much more. The 7-day average is inflated by the huge volume earlier in the run, so part of this is just the math, but it still means fewer new buyers are arriving than before.
Hourly RSI is 64.2, healthy and not stretched, so there is room to run.
I am watching 1.085. A move back above the weekly high with volume rising again would confirm the trend has another leg, and that is when I would take it seriously. If RLC fades back under 0.80 on thin volume, today was a relief bounce inside a range that is slowly losing energy.
#iExec #RLC
This coin does not want to stay down. It is still 16.2% under the weekly high of 1.085, but every dip this week has been bought back.
The one number that gives me pause is volume. About 27.5M USDT traded in 24 hours, 1.7 times the 7-day average. On a 35% day, I would expect much more. The 7-day average is inflated by the huge volume earlier in the run, so part of this is just the math, but it still means fewer new buyers are arriving than before.
Hourly RSI is 64.2, healthy and not stretched, so there is room to run.
I am watching 1.085. A move back above the weekly high with volume rising again would confirm the trend has another leg, and that is when I would take it seriously. If RLC fades back under 0.80 on thin volume, today was a relief bounce inside a range that is slowly losing energy.
#iExec #RLC