iExec RLC Market Overview

• iExec RLC tested key resistance near $1.15 but faced rejection, ending the session near $1.134.
• Strong volume and price divergence emerged in the late ET hours, signaling potential trend fatigue.
• RSI suggests overbought conditions earlier in the day, followed by a pullback into neutral territory.
• Volatility increased with a Bollinger Band expansion, indicating a period of higher uncertainty.
• A bullish engulfing pattern formed at the session’s close, hinting at short-term buying interest.

iExec RLC (RLCUSDT) opened at $1.134 on July 18, reached a high of $1.153, and closed at $1.134 on July 19. The 24-hour volume was 217,876.9, and total turnover amounted to $245,265.5.

Structure & Formations

RLC displayed a clear test of resistance near $1.15, where price failed to hold and retreated. A bullish engulfing pattern formed in the final candle of the session, suggesting short-term buyers may be stepping in. A key support level appears to be forming near $1.125–$1.13, where price found repeated buying interest.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed in a bullish direction during the overnight hours, reinforcing the recent upward momentum. On the daily chart, the 50-period MA remains above the 200-period MA, indicating a longer-term bullish bias.

MACD & RSI

The MACD crossed into positive territory overnight, confirming a short-term bullish shift. RSI peaked above 65 in the early hours, indicating overbought conditions, but has since fallen to neutral levels, suggesting the pullback was orderly.

Bollinger Bands

Volatility expanded significantly during the session, with price reaching the upper band at $1.153 before retracting. This expansion suggests increased market participation and sentiment shifts.

Volume & Turnover

Volume spiked during the afternoon and early evening ET hours, particularly around $1.145–$1.15, but price failed to follow through, indicating a potential divergence. Total turnover was concentrated in the $1.12–$1.15 range, with the largest notional value transacted at $1.147.

Fibonacci Retracements

The $1.134–$1.153 swing saw a 61.8% retracement at $1.142, where price found temporary support. On the daily chart, a 38.2% retracement level at $1.135 appears to be holding as a key area to watch for the next 24 hours.

RLC appears poised for a potential bounce off key support levels, with momentum indicators suggesting short-term bullish energy. However, the recent rejection at $1.15 implies resistance remains strong. Investors should monitor the $1.125–$1.140 range for signs of consolidation or renewed breakouts, while being mindful of potential volatility and liquidity shifts.