Market Overview: iExec RLC/Bitcoin (RLCBTC) 24-Hour Analysis

Summary
• Price declined from 8.1e-06 to 7.82e-06 with key support at 7.82e-06 and resistance at 8.04e-06.
• Momentum weakened as RSI approached oversold territory and MACD turned negative.
• Bollinger Bands constricted in late morning, followed by a bearish breakout.
• Volume spiked during the 15:45–16:00 ET sell-off, confirming price weakness.
• A bearish engulfing pattern formed near 8.06e-06, signaling potential further downside.

The iExec RLC/Bitcoin pair opened at 8.08e-06 on 2025-12-13 at 12:00 ET, reaching a high of 8.1e-06 and a low of 7.82e-06 before closing at 7.82e-06 on 2025-12-14 at 12:00 ET. Total volume was 3,364.0 units, with notional turnover amounting to 26.59 BTC equivalents.

Structure & Formations

Price action revealed a bearish trend, with a key bearish engulfing pattern forming near 8.06e-06, suggesting a shift in sentiment. Key support was retested at 7.82e-06, and price showed reluctance to break above 8.04e-06, reinforcing its role as resistance.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages are bearishly aligned, with the latter crossing below the former in a potential death cross. Daily MAs also remain bearish, with the 50/100/200-line cluster providing a potential floor near 7.80e-06.

MACD & RSI

The RSI approached 30, hinting at oversold conditions, while the MACD histogram turned negative with a bearish crossover. This suggests weakening momentum and a higher probability of continued bearish movement in the near term.

Bollinger Bands

Volatility contracted between 11:00–14:00 ET, only to break decisively to the downside in the early evening. . The 15:45 candle closed near the lower band at 7.82e-06, confirming a bearish breakout from a tight range.

Volume & Turnover

Volume surged during the 15:45–16:00 ET session, coinciding with a sharp drop in price, reinforcing the bearish move. Turnover also increased significantly during this period, indicating real selling pressure rather than wash trading.

Fibonacci Retracements

On the 5-minute chart, the 61.8% retracement level of the prior bullish swing is at 7.89e-06, which has now become a key resistance-turned-support. The 50% level at 7.96e-06 may offer a potential countertrend entry if a bounce occurs.

The pair appears to be in a bearish consolidation phase, with key support at 7.82e-06 and resistance at 7.96e-06. A break below 7.82e-06 could test the next Fibonacci level at 7.78e-06, but investors should remain cautious of volatility and potential short-term rebounds.