iExec at the top of its speculative hype without foundationsFrench-Chinese company created in October 2016 with deployment of their RLC token in April 2017,
which proposes to extend the reduced capacity of Ethereum for the decentralized Cloud.
The different types of actors in this marketplace, namely applications, servers, datasets, are supposed to value their resources in RLC, that is to say, to gain RLC as a server provider, by processing the data to be processed.
In short, all the paraphernalia of more or less vague concepts regularly encountered in altcoins of this type, alongside Dapp, sidechain, servers-radiators at home etc.
As always in the field, nothing is too good to attract the barge with obviously the highlight of the show, the partners: Intel (understand that they use Intel processors, sic!), Microsoft (understand that they use MicroSoft licenses, re-sic!) and even, explaining the latest pump of hype: our french electricity supplier, EDF ("Electricité De France")... oddly not informed in their list of official partners on their website, unlike Intel and MicroSoft.
In short, as a French company, understand that they use electricity from EDF (re-re-sic!).
Because of course, this type of so-called partnership was mentioned in May 2019 on many articles copied and pasted on each other, on all the "newspapers" dedicated to the blockchain... partnership announced everywhere in the small cryptosphere, except at the principal concerned, EDF. Comical? we are used.
You will understand, therefore, that despite the current hype among "moonboys" as they are affectionately called at the top of the current Pump & Dump, the iExec chart is moribund.
In my opinion, we are obviously in a descending triangle of continuation of the bear market, easy to trace with the logarithmic scale necessary to appreciate this long-term time scale.
RLC is apparently close to the top of the last hype of speculative hype, encountering now or very soon its bearish long term, resistance that it would be difficult to cross with fundamentals as ... absent.
So I can see an extremely strong next dump with a target calculated on the break of the historical support of the descending triangle, as drawn on my chart.
DISCLAIMER: This is not trading advice, you are solely responsible for your actions.
Invest only what you can afford to lose, and only what you really understand.
