Iexecrlc
iExec RLC vs Bitcoin Uptrend Is ValidSince April, iExec RLC has been steadily moving upwards and gained 180% against the Bitcoin in just 6 weeks. Price went from 1k satoshis up to the 3.2k satoshis high, where it formed a double top.
Nevertheless trend remains bullish and RLC/BTC continues to reject the uptrend trendline and the 50 Moving Average, while producing higher highs and higher lows. On the recent corrective wave down, RLC found the support at 50% Fibonacci retracement level, that is 2120 satoshis. The support has been rejected cleanly, suggesting that the uptrend might continue.
But the confirmation of the uptrend would be preferable and break and close above the 3k satoshis resistance could be the first signal. Then RLC/BTC could jump towards the strong resistnace area, between 5.3k and 5.5k satoshis, that it confirmed with the Fibs retracement applied to the corrective wave down after the breakout of the 2120 resistance.
The downtrend could take place only if the 3k resistance will not be broken and price breaks below the 2120 support and the uptrend trendline.
iExec RLC: NEW DEVELOPMENTS - 24 HOURS = 58.45% PROFIT!!!Our "Crypto Bottom" Signal has correctly identified a buy in point on the 16th of May 2018 .
Using this buy in point and selling at today's price, you would have expected to net 58.45% PROFIT!!! in 24 HOURS
The increase in price may also be explained by positive developments including:
March 28: iExec is featured in Forbes.
April 6: iExec co-Founder, Dr. Haiwu He, Selected as an Expert of the China Computer Federation. It has only 78 members in total.
April 19: iExec Chosen as a 2018 Red Herring Top 100 Europe Winner.
April 28: iExec recently announced a collaboration with Ubisoft
May 7: iExec is featured on the tech segment of the (a leading news channel in France) about its collaboration with Ubisoft.
May 15: iExec announces its compatibility with RSK , a side-chain that enables smart contracts on the the Bitcoin blockchain.
May 16: iExec announces the imminent release of iExec v2 in 2 weeks.
May 16: Hashed, a Korean blockchain project accelerator and investment fund announces that it has included iExec in it's investment portfolio.
May 17: Intel and iExec have started a parrtnership which aims to develop privacy-preserving offchain computing.
May 17: CEO & Co-Founder of iExec, meets the French Minister of The Economy to discuss the rising decentralised economy.
These positive developments as well as a general recovery in the cryptocurrency markets have led to a surge in price of iExec RLC.
The "Crypto Bottom SIgnal" used in this analysis is included as part of the Crypto Trade Signals subscription.