iExec RLC (RLC) Technical Analysis 2021 for Crypto Traders

iExec RLC (RLC) Technical Analysis 2021 for Crypto Traders

In iExec RLC (RLC) Technical Analysis 2021, we use past statistics, price analysis, RVOL, MA, and much other information about RLC to analyze the future trend of the cryptocurrency

iExec is a leading provider of blockchain-based decentralized computing, used to organize market networks where people can monetize computing power, applications, and even datasets. It does this by providing on-demand access to cloud computing resources. 

RLC can support applications in the fields of big data, healthcare, artificial intelligence, rendering, and fintech. It was established on October 16, 2016 to redefine cloud computing by creating a new cloud computing paradigm.

iExec RLC (RLC) Current Market Status

According to CoinGecko, the RLC price is trading at $3.62 with a 24-hour trading volume of $32,288,393, at the time of writing. However, RLC has dropped by 6.8% in the last 24 hours.

In addition, RLC has a circulating supply of 71,332,547 RLC coins. Currently, RLC trades in Binance, FTX, Upbit, Gate.io, and HitBTC.

iExec RLC (RLC) Technical Analysis 2021 

iExec RLC (RLC) holds the 185th position on CoinGecko right now. The recent development and upgrades might push RLC to reach new heights. Now, let’s deep dive into the RLC technical analysis 2021. The daily time frame chart of iExec RLC (RLC) is shown below.

RLC/USDT Cup and Handle Pattern (Source: Tradingview)

A cup and handle is a technical chart pattern that resembles a cup and handle with the cup shaped like a “u” and the handle slanted downward. A cup and handle is a bullish signal that extends an uptrend and is used to identify opportunities to go long. When using this indicator, technical traders should place a stop buy order slightly above the upper trendline of the handle part of the pattern.

Currently, RLC is trading at $3.67. After this, RLC may continue to fall or rise according to the direction of breakout. With this pattern, RLC might reach the resistance level at $8.45 soon. If the trend reverses, then the price of RLC may fall to $2.04.

iExec RLC (RLC) RSI

The below chart shows the relative strength index (RSI) of RLC. 

RLC RSI (Source: TradingView)

As shown in the above chart, RSI remains at 65.05. This shows that RLC’s price is in an nearly overbought state. This shows that traders have to trade carefully, however, major price reversal could take place.

iExec RLC (RLC) RVOL

The below chart shows the Relative Volume of RLC. It is an indicator that indicates to traders how the current trading volume has changed over a period of time compared to the previous trading volume.

RLC RVOL(Source: TradingView)

Currently, the RVOL of RLC lies below the cutoff line which represents the weaker participants in the current trend.

iExec RLC (RLC) Moving Average

RLC’s Moving Average (MA) is shown in the chart below. MA supports traders to find trends.

RLC MA (Source: TradingView)

Currently, RLC is in a bullish state. However, RLC price is above 50 MA (short-term), and it has a high chance of moving higher. Furthermore, the RLC price is above 50 MA and 200 MA (long-term), so it is completely in a bullish state. Moreover, there is also a possibility of Trend reversal at any time.

iExec RLC (RLC) Price Comparison With Bitcoin

The below chart shows the price comparison between RLC and BTC. 

RLC vs BTC Price Comparison chart(Source: TradingView)

From the chart, we can identify the trend of the BTC and RLC is moving at the same level as the trend. This indicates when the price of BTC increases or decreases, the price of RLC also increases or decreases respectively.

Conclusion

With the ongoing developments and upgrades that are taking place within the RLC platform. iExec RLC has a great future ahead in this crypto market. However, RLC can reach new heights.

Bullish RLC price prediction 2021 is $5.78. As mentioned above, it may reach great heights, however reaching $8.45 is also possible, if investors have decided that RLC is a good investment in 2021.

FAQ

What is RLC?

RLC is a decentralized open source cloud computing platform based on the Ethereum blockchain. iExec provides decentralized applications (dApps) that can access iExec cloud computing resources and technologies on demand.

Where can you purchase RLC?

RLC is listed on many cryptocurrency exchanges that include Binance, Tokocrypto, Huobi Global, Upbit, and Hotcoin Global.

Will RLC reach a new ATH soon?

With the ongoing developments and upgrades within the RLC platform, it has the high possibility of reaching its ATH soon.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.