Market Overview for iExec RLC (RLCUSDT)

• RLCUSDT traded in a narrow range early before surging past 0.970, forming a bullish breakout above key resistance.
• Momentum accelerated in the final hours, with RSI reaching overbought territory and MACD crossing into positive territory.
• Volume spiked in the afternoon (ET), confirming the rally, with notional turnover rising to $1.75M.
• Bollinger Bands showed a recent contraction followed by expansion, aligning with the breakout.
• Fibonacci retracement levels at 0.965 (38.2%) and 0.975 (61.8%) acted as psychological barriers.

RLCUSDT opened at 0.955 on 2025-08-06 at 12:00 ET, reached a high of 0.978, a low of 0.941, and closed at 0.972 by 12:00 ET on 2025-08-07. Total volume was 194,734.1 RLC, with a notional turnover of $1.75 million over the 24-hour window.

Structure & Formations

RLCUSDT demonstrated a key breakout above the 0.970 resistance level, following a consolidation phase between 0.945 and 0.965. A strong bullish engulfing pattern formed around 11:30 AM ET when the asset surged from 0.972 to 0.978. The price found support at 0.968 and 0.960 levels earlier in the day, with the 0.970 level now potentially acting as a new support. A doji formed near 0.951 early in the session, suggesting indecision before the eventual bullish move.

Moving Averages

On the 15-minute chart, the price has now closed above both the 20 and 50-period moving averages, confirming a near-term bullish bias. On the daily chart, the 50-period MA is currently at 0.945, while the 200-period MA sits at 0.932. The price is comfortably above both, indicating a medium-term bullish setup.

MACD & RSI

MACD turned positive and crossed above the signal line in the final hour of the session, confirming bullish momentum. The RSI reached a high of 75 in the last 15 minutes, signaling overbought conditions. This suggests caution in the near term, with potential for a pullback or consolidation.

Bollinger Bands

Bollinger Bands showed a contraction in the early hours of the session, followed by a sharp expansion as the price surged past 0.970. The upper band currently sits at approximately 0.985, while the lower band remains at 0.950. The price is now trading near the upper band, indicating stretched conditions.

Volume & Turnover

Volume spiked significantly in the late morning to early afternoon, with the largest 15-minute candle occurring at 10:45 AM ET, trading 6,395.3 RLC. Notional turnover increased sharply in line with the volume spikes, with no signs of divergence between price and volume. This confirms the strength of the move upward.

Fibonacci Retracements

The recent swing low of 0.941 and swing high of 0.978 produced key Fibonacci levels. The 0.965 level (38.2%) acted as a short-term support before the breakout. The 0.975 level (61.8%) has become a new dynamic support/resistance area. A break above 0.985 could see the price testing the 1.000 level in the next 24 hours.

RLCUSDT appears to have found momentum in the final hours of the session, with strong confirmation from both volume and technical indicators. The next key level is the 0.985 resistance, followed by 1.000 as a potential target. However, given the overbought RSI and recent sharp move, a pullback into the 0.965–0.970 range could be a likely near-term scenario. Investors should remain cautious and watch for volume divergence in the next 24 hours.