New Technical Analysis For iExec($RLC)

iExec is the Decentralized Marketplace for all computing assets that connects resource providers with resource users, allowing anyone to monetize or rent computing power, datasets, and applications. $RLC is the native token of the iExec platform. In exchange for $RLC tokens, users can utilize the network to rent servers, data, and applications.

According to Coingecko, the iExec ($RLC) currently stands at rank 272 (fluctuating) with a total market capitalization of around $87,372,110 with a total supply of 86,999,784, and a current circulating supply of 72,382,548.

No major changes to the basic chart. The RLC price is still sustaining around $1 which seems to become a strong support level, also we can see from this same level it previously went up in January 2021. The RLC price in the last 90 days looks in an uptrend with small movements.

No major changes to the total market capitalization. This means the investor’s holding is still sustained in the market and does not opt-out.

As we saw, the current level is around the same level as where the previous market capitalization was increased, so there is a possibility that the market capitalization may increase at this level which pumps its price high.

According to the Trend line, we see that the RLC price looks up-trend. The RLC price is currently trading very close to its trend line, it is just above so still in the positive zone and possible to go up again at the resistance level which is at $1.45 — $1.69.

We can also see the Flag pattern is creating which is another bullish sign. However, if the RLC price crossed the trend line below then chance for down movement for a short period of time, in that case, the Support levels are shown by the arrow from where the price may bounce.

According to the combination of Support and Resistance Levels with Breaks + Superichi, currently, we do not have a buy signal, but until the small Black line below the small red line, the down signal is showing.

The first support level is the same as that we have seen above in the Trend line. Here, once the Blue line crosses the Red line above and RLC then that will be a sign for buy and exit once the Blue line crosses the Red line down.

The possible Support and Resistance Levels are shown by thick lines, Blue for Support and Red for Resistance. Wait till the blue cross the red line, then we can go for the entry.

Here, we can see after the price crosses 50 MA in August 2022, the price is moving between 200 MA to 100 MA.

Currently, the price is very close to 200 MA. If the price crosses the 200 MA above then a big bullish movement can be expected, but if the price bounces and reverses from below 200 MA, then for a short period of time the down movement can be expected till 100 MA, the 100 MA is not so far. After entry, we can exit once RSI is above the upper band.

The RSI price is moving very close to the middle band, if RSI starts moving up from the middle band then a good time for entry and can exit once it is above the upper band.

In this article, we see the possible levels of RLC price. RLC looks stronger on a technical chart, we can go both short term and long-term. No major changes in total capital mean the investment is still sustained in the RLC market which can boost its price.

This article is just for educational purposes and not for investment suggestions. Please do your own study and research before any investment.

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