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RLCUSD was one of the top performers during the Christmas holidays. The native token of iExec was gained after it dropped worker pass Utility NFT. The pair rose more than 20% in the past week. It made a high of $3.69 on Jan 4th, 2022, and fell drastically to $0.480 on board-based BTC selling. It hits a high of $1.4298 and is currently trading around $1.3485.
In the daily chart, the pair is holding above short-term (21 and 55-day EMA) and long-term 200 EMA ($1.230).
The bullish invalidation can happen if the pair closes below $1. Any weekly close below $1 targets $0.74/$0.55.
The immediate resistance stands at around $1.65. Any breach above confirms a minor pullback. A jump to $1.90/$2.60 is possible. A surge past $2.60 (this year high) will take RLC to the Nov 2021 high of $302.
It is good to buy on dips around $1.0 with SL around $0.74 for TP of $2.59.
