Market Overview for iExec RLC/Bitcoin (RLCBTC) on 2025-10-30

• iExec RLC/Bitcoin opened at $0.00000765 and closed at $0.00000754, declining by 1.44% over 24 hours.
• Volatility spiked with a 15-minute candle printing a $0.0000008 range, followed by a sharp selloff.
• Volume surged to 1998.1 BTC at 23:45 ET, coinciding with a large downward move.
• RSI approached oversold territory during the selloff, hinting at potential short-term bounce.

At 12:00 ET, iExec RLC/Bitcoin (RLCBTC) opened at $0.00000765 and traded between $0.00000754 and $0.00000789 over the 24-hour window, closing at $0.00000754 at 12:00 ET the next day. Total volume amounted to 5,640.0 BTC, while turnover reached $42.94 million (assuming $1 = 1 BTC for estimation). The pair exhibited heightened volatility and a clear bearish bias, especially during the late-night session on 2025-10-29.

The price structure revealed key resistance around $0.00000789 and support near $0.00000754, with several doji and engulfing patterns appearing during the selloff. A strong bearish reversal occurred at 23:45 ET, where the pair dropped sharply from $0.00000782 to $0.00000778 within a single candle, indicating a potential shift in sentiment. The 20- and 50-period moving averages on the 15-minute chart were in bullish alignment earlier in the session but were later pierced by the bearish momentum.

MACD remained negative throughout much of the session, with bearish crossovers reinforcing the downward move. RSI reached the 30 threshold during the selloff, suggesting potential oversold conditions, though the move lacked immediate follow-through. Bollinger Bands expanded significantly during the volatile stretch, with price closing near the lower band at session end, signaling a possible bounce in the near term. Volume spiked during the downward phase, confirming the move, while no divergence between price and turnover was observed.

Fibonacci retracements from the high at $0.00000789 to the low at $0.00000754 indicate critical levels at $0.00000771 (38.2%) and $0.00000764 (61.8%). These levels may offer resistance during a potential short-term rebound. The 200-period moving average on the daily chart is currently above $0.00000785, suggesting a broader bearish bias, though intraday volatility could create temporary countertrend opportunities.

Backtest Hypothesis

A potential backtest could involve using RSI-14 to identify oversold conditions (<30) as buy signals, with a 1-day-hold exit strategy. Given the observed RSI approach to the 30-level during the selloff, a signal may have been generated, though confirmation of the exact symbol is needed to retrieve the full RSI-14 series from 2022–2025. If we apply this strategy to a USD-quoted symbol such as “RLCUSDT”, the backtest would include entries on every RSI <30 instance, holding until the next session close. This approach could then be evaluated for its win rate, average return, and drawdown metrics.