Yello, Paradisers! Is #RLCUSDT setting up for a powerful bullish continuation, or are we facing a bearish rejection? Let’s dive into the key levels you need to watch right now.
💎#RLC has made a strong rebound off its support, showing promising signs of strength. A successful breakout from the falling wedge pattern could confirm a bullish continuation. For this, we need a daily close above the trendline to validate the breakout. If this happens, the next target would likely be the minor resistance at $2.67. This level is crucial because a breakout here could lead to the highest probability of reaching the major resistance level.
💎If RLC fails to break the falling wedge and faces rejection with bearish candles, the price might drop back to retest the support zone around $1.87–$1.72.
💎The real concern arises if RLC fails to rebound from this support and breaks below it. In this case, the price would likely continue its downward trajectory toward the strong support at $1.30.
💎The $1.30 level represents the last line of defense for the bullish scenario. A rebound from here, followed by a reclaim of the $1.87 support, is necessary to reignite bullish momentum.
💎However, if RLC breaks below the major support at $1.30 and a daily candle closes under this level, it would confirm a bearish trend, with the potential for further downside and deeper dips.
Strive for consistency, Paradisers, and trade smart. This market rewards the disciplined and punishes the impulsive. Let’s stay focused and make the best decisions possible.