Eighteen hours ago I said I would wait for $RLC to get back above 1.085 instead of guessing the bottom at 1.043. It is 0.936 now, 10.3% lower, so waiting was the right call. Anyone who bought that dip expecting a quick bounce is down double digits.
The rest of the picture has cooled too. 24h volume dropped from 48.7 million dollars to 29.4 million, which is now just 1.03 times the weekly average. RSI is 44.6, below the 55 I noted last time. And BTC is flat at +0.14%, so this is RLC losing steam on its own, not the market pulling it down.
The seven-day number still reads +152.9%, but that is measured from where it was a week ago, and price is now 37% under the 1.488 high. More of the big week is being given back with each post I write about it.
My view stays the same, just weaker. 1.085 is still the line that would make me bullish again, and it is now about 16% away. On the downside I am watching 0.90. If price closes under it while volume stays this ordinary, I would expect the fade to continue rather than a fast rebound.
#iExec #RLC
The rest of the picture has cooled too. 24h volume dropped from 48.7 million dollars to 29.4 million, which is now just 1.03 times the weekly average. RSI is 44.6, below the 55 I noted last time. And BTC is flat at +0.14%, so this is RLC losing steam on its own, not the market pulling it down.
The seven-day number still reads +152.9%, but that is measured from where it was a week ago, and price is now 37% under the 1.488 high. More of the big week is being given back with each post I write about it.
My view stays the same, just weaker. 1.085 is still the line that would make me bullish again, and it is now about 16% away. On the downside I am watching 0.90. If price closes under it while volume stays this ordinary, I would expect the fade to continue rather than a fast rebound.
#iExec #RLC