Ixec
iExec breaking out. Big pump possible Currently RLCBTC is gaining a lot of momentum.
SMA 100
RLCBTC has tested the 100 SMA quite extensively over the last month. After it broke out downward of the Ichimoku cloud beginning of september we were negative on the performance of iExec. But the SMA 100 was succesfully tested.
Potential MACD crossover coming up
A bullish crossover occurs when the MACD turns up and crosses above the signal line. The Blue Line is now at equilibium and when it crosses the orange line iExec will gain a lot of momentum.
The Kijun Sen
The Kijun Sen (blue line) gives a bullish signal since it is now trading above it.
All and all the signals are looking good but RLCBTC first has to conquer the bottom of the Ichimoku cloud before it can go to its old highs.
RLCBTC. On support but looking for a buy at around 11500.RLCBTC 4H. Pumped even further right after Chico Crypto's uTube video the other day. Probably not a coincidence. In a nice descending channel. RLC has retraced somewhat now and is finding support at Fibonacci 0.5. Probably some upside from this level for a scalp but I am looking for a retest of trend line 'A' partly as I believe BTC is heading for 9600 and RLC definitely dives when BTC moves, and partly because I feel there is better support at that level. If trend line 'A' breaks then I'm definitely looking at buying some RLC at 'C' the 0.618 level and have placed an order at 11513. Generally, most alts look oversold to me and a healthy correction has got to be more probable for sustainable new highs in the medium term....?
EMA 21 & 200.
iExec - Blockchain-Based Decentralized Cloud ComputingLooking at the current price action, RLC/BTC is forming a double bottom, which so far has been rejected. This could invite buyers over the coming weeks, resulting in a correctional move upwards or even a trend reversal. Nevertheless, Moving Average has to be broken for the wave up to start, only then price could be heading towards one of the Fibonacci resistance levels. But on the downside. if current support is broken, the upside potential would be compromised, where buyers could be getting out of the iExec. All-in-all its an interesting time for this coin, not to mention the huge potential of the decentralized cloud computing.
