$RLC /USDT - Precise Test at MA60 Pivot Within Bearish Trend
RLC trades virtually unchanged at $0.606, positioned exactly at the MA60 level, which now acts as a critical pivot. The asset faces a consistent bearish macro trend across all timeframes (7D: -8.04%, 90D: -30.34%). With very low current volume, this test of the MA60 lacks momentum, increasing the probability of a rejection and continuation of the prevailing downtrend.
Key Levels:
Support:ย $0.597 (24h Low)
Resistance:ย $0.606 (MA60 Pivot) / $0.623 (24h High)
Trade Idea (Short at Pivot Resistance):
Entry Zone:ย $0.606 - $0.610 (At the MA60, aiming for a rejection candle)
Stop Loss (SL):ย $0.628 (Above the 24h High)
Take Profit Targets (TP):
TP1:ย $0.600 (Immediate Target)
TP2:ย $0.597 (24h Low)
TP3:ย $0.590 (Breakdown Extension)
$RLC Rationale:ย Price is coiling at a major moving average within an established, multi-timeframe downtrend. The convergence of price and the MA60, coupled with anemic volume, suggests weakness and a higher likelihood of the MA60 acting as resistance rather than support, favoring a short entry.
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