🔥 RLC Fibonacci Reversal: Will The Trend Continue?

5 ביולי 2022

RLC has been on a massive run last week. However, since topping around the $1.4 area RLC saw a 30% decline all the way back to $0.98

If we draw a Fibonacci retracement, we can clearly see that the 0.618 retracement is right on $0.98, so strong support was expected there.

If can see more bullish/neutral price action from BTC I think that RLC is going to form a lower high somewhere between $1.2 - $1.3 in the near future. A bearish BTC will make it more difficult, but still plausible.