3 months ago 1 min read

21:00 GMT+8 - RLC Chart Analysis

RLC On Its 1Day Chart Showing Elliott Wave Pattern

RLC appears to be following an Elliott wave pattern, with wave 5 currently being approached by the market.

It's important to keep in mind that Elliott wave theory is a sort of subjective technical analysis, and many analysts may recognize various wave patterns or interpret the same pattern in various ways. Hence, before making any trading selections, it's crucial to use prudence and do your own study.

Also, the market may be affected by the next FOMC outcome, so it may be a good idea to keep a watch on the news and be ready for possible market volatility.

Prices for waves are as follows:
wave 1 (1.8357)
wave 2 (0.7540)
wave 3 (2.3541)
wave 4 (1.2047)
The market is currently moving into wave 5  possible target (2.6110) bonus if price breaks above said target safe call is to break above wave 3

It's hard to say whether or not RCL Coin will go through a consolidation phase. Before making any investing selections, traders should carefully examine their options and keep an eye on market trends and indicators.

Disclaimer: The author's personal view may be included in the information, which is subject to market conditions. Before making a cryptocurrency investment, do some market research. Your individual financial loss is not the responsibility of the author or the publisher.

Garrett Wyatt
Garrett Wyatt
Garrett enjoys trading and has a strong aptitude for analyzing financial markets. His passion in economics and finance has him interested in the marketplace structures of cryptocurrencies.
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