Strong signals on 4H timeframe
Updated
MACD and RSI hidden divergence promoting a bullish continuation, Stochastic RSI to cross and move up, and a potential bounce off the 21 EMA provided we do not dip much further.
Keep in mind that the 12 hour and Daily Stochastic are both continuing to go down which could stagnate these short term signals, and as a result we move sideways, or further down instead.
Not financial advice, just some additional analysis for the hopeful.
Keep in mind that the 12 hour and Daily Stochastic are both continuing to go down which could stagnate these short term signals, and as a result we move sideways, or further down instead.
Not financial advice, just some additional analysis for the hopeful.
Note
Price broke through the 21, likely going to meet the 50 day moving average in the $7-8 range and perhaps a bounce happens there. This creates an even stronger divergence, as long as price doesnt go so far down that the price matches the MACD and RSI downtrend (Price would have to drop to around $4). I highly doubt this happens unless there is heavy negative momentum happening in the overall market and for an extended amount of time. We'll also require some much needed volume for a strong bounce back into the double digits.Another theory is that since the market is currently red, we see some money be put into smaller cap coins like RLC, as some may want to take advantage of a highly profitable rebound now that RLC has a much higher market cap ceiling due to prior selloffs.
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