Market Overview for iExec RLC/Bitcoin (RLCBTC)

Summary
• Price advanced 1.08% over 24 hours, forming a bullish continuation pattern on key levels.
• Volume surged during the mid-session rally, confirming strength above 7.36e-06.
• RSI and MACD suggest moderate momentum, with RSI near neutral and MACD trending upward.
• Volatility remained tight throughout, with price oscillating inside Bollinger Bands.

At 12:00 ET on 2026-01-02, iExec RLC/Bitcoin (RLCBTC) opened at 7.33e-06, reached a high of 7.42e-06, and a low of 7.34e-06, closing at 7.36e-06. Total volume over 24 hours was 5,297.8, with turnover of 0.0387 BTC.

Structure & Formations

The price action displayed a series of higher highs and higher lows, forming a bullish structure. A key support level appears to be around 7.34e-06, with resistance forming at 7.42e-06. A bullish engulfing pattern emerged around 19:30 ET as the price broke above a prior consolidation range. A doji candle appeared at 05:30 ET, suggesting indecision following the rally.

Moving Averages

On the 5-minute chart, the price remained above both the 20 and 50-period moving averages, signaling a short-term bullish bias. The 50-period MA acted as a dynamic support during the late-night consolidation phase. No daily moving average data was provided, but the short-term momentum suggests continued strength above 7.35e-06.

MACD & RSI

The MACD line crossed above the signal line in the early session, indicating a potential continuation of the uptrend. RSI moved into neutral territory and has not entered overbought levels, suggesting the rally may still have room to run. However, the lack of a strong overbought reading indicates the move has not yet lost control.

Bollinger Bands

Volatility remained relatively stable with the Bollinger Bands expanding slightly during the mid-session rally. The price spent much of the session near the upper band, particularly between 18:00 and 20:00 ET, before consolidating closer to the middle band in the early morning hours.

Volume & Turnover

Volume spiked during the key breakout at 18:00 ET and again at 23:30 ET, confirming the move above 7.36e-06. Turnover increased in tandem with these volume surges, suggesting genuine conviction in the bullish move. Price and turnover aligned during these periods, reinforcing the validity of the breakout.

Fibonacci Retracements

A 5-minute swing from 7.32e-06 to 7.42e-06 shows a retest of the 61.8% retracement level at 7.37e-06, which the price held before rebounding. The 38.2% level at 7.39e-06 appears to be a minor resistance and support, with the price bouncing between these levels several times in the early morning.

RLCBTC appears to be in a short-term bullish phase, supported by volume confirmation and pattern alignment. While the immediate bias is to the upside, a pullback toward 7.34e-06 could offer another buying opportunity. Investors should monitor volume during the next 24 hours for signs of conviction or exhaustion.