$RLC just won't stop.
Up 54.10% today, trading at 1.1784 after tapping a high of 1.4880. RSI(6) sitting at 88.84, deep overbought, the kind of reading that usually means the move is stretched thin, not confirmed strong.
Look at the pattern already playing out on this chart. It ran from 0.33 to 1.4880, then immediately rejected hard off that top, a wick that long means sellers showed up fast once price got there. This isn't the first time either, the same spike and reject happened earlier in the week before it based and ran again.
Zoom out and the number still look unstoppable, up 224.81% this week, 285.98% this month. But today alone it's already pulled back from 1.4880 to 1.1784, nearly 21% off the high in hours. That's not weakness, that's just what parabolic moves do, they don't go straight up forever.
So the real question isn't if it pulls back, it's whether it bases here like it did last time, or whether this is the top of the move. Watch the 0.9633 to 0.78 zone, that's where the last pullback found its floor.
$RLC
Up 54.10% today, trading at 1.1784 after tapping a high of 1.4880. RSI(6) sitting at 88.84, deep overbought, the kind of reading that usually means the move is stretched thin, not confirmed strong.
Look at the pattern already playing out on this chart. It ran from 0.33 to 1.4880, then immediately rejected hard off that top, a wick that long means sellers showed up fast once price got there. This isn't the first time either, the same spike and reject happened earlier in the week before it based and ran again.
Zoom out and the number still look unstoppable, up 224.81% this week, 285.98% this month. But today alone it's already pulled back from 1.4880 to 1.1784, nearly 21% off the high in hours. That's not weakness, that's just what parabolic moves do, they don't go straight up forever.
So the real question isn't if it pulls back, it's whether it bases here like it did last time, or whether this is the top of the move. Watch the 0.9633 to 0.78 zone, that's where the last pullback found its floor.
$RLC