Tellor (TRB) and iExec RLC (RLC) Technical Analysis: What to Expect?
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Tellor (TRB) and iExec RLC (RLC) Technical Analysis: What to Expect?

May 3, 2021      Dalmas Ngetich

Bulls are back if Tellor and iExec technical analysis guide. RLC/USDT and TRB/USDT are at new 2021 highs, with possibilities of reaching $4.8 and $137, respectively.

Tellor (TRB)

DeFi is glued by reliable Oracle providers, of which Tellor forms a part of that crucial ecosystem.

Based on Ethereum, its native token is TRB.

Past Performance of TRB

In lock-step with DeFi, TRB technical analysis points to demand. The TRB/USDT is trading within a $15 zone in the last 24 hours, capped between $85 and $106.

At the same time, trading volumes are decent, adding 31 percent to $92 million on the last trading day.

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Day-Ahead and What to Expect

The TRB/USDT price is at new 2021 highs in a bullish breakout pattern above Q1 2021 trade range.

From the daily chart, TRB is up 17 percent on the last day at $100.

TRB has expanded versus the BTC and ETH, week-to-date.

Underlying momentum is also strong. TRB bull bars are beginning to align along the upper BB from the daily chart—an indicator of demand and high volatility.

TRB/USDT Price Analysis

Tellor Daily Chart for May 3

The TRB price is trading at new all-time highs, breaking above $90 and now changing hands at $100.

Accompanying the surge are average trading volumes—comparatively lower the end of April’s.

As a result, every low could be a loading opportunity for TRB/USDT bulls, who should now target $137—the 1.618 Fibonacci extension level of the Q1 2021 trade range.

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Steep losses below $90—unwinding gains–invalidate the uptrend.

iExec RLC (RLC)

Decentralized computing will command a multi-billion-dollar valuation in years to come.

In this realm, iExec RLC is already an established market leader whose network is primed by the RLC token.

Past Performance of RLC

Reflecting the crypto market revival, the RLC price is up $0.52 on the last day, trading at $3.45 as of writing on May 5.

The RLC/USDT price is within a tight intraday range, oscillating between $2.90 and $3.49 at a time when participation has spiked 133 percent to $31 million.

Day-Ahead and What to Expect

RLC/USDT technical analysis suggests bulls and confidence.

The RLC price is trading within a bullish breakout pattern, as candlestick arrangements in the daily chart reveal.

Notably, there has been a confirmation of the three-bar bullish reversal pattern from Apr 23 to 25.

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RLC/USDT Price Forecast

RLC Daily Chart for May 3

The uptrend is firm, and the RLC price is now trading above Apr 2021 highs.

If RLC prices close above $3.45, odds of the RLC/USDT rallying to $4.8—the 1.618 Fibonacci extension level of the Q1 2021 trade range will be high.

On the other hand, losses below the middle BB and $2.5 nullify the uptrend.

#DeFi #IExec #RLC #RLC/USDT #Tellor #TRB/USDT
Dalmas Ngetich
Dalmas Ngetich

Dalmas has been passionate about the blockchain and crypto space ever since he’s heard about it. As someone who’s been closely following the trends in the crypto space, Dalmas is excited about what lies ahead in this niche and is all set to explore it. While he’s been advocating crypto adoption for a number of years, he’s himself a HODLer, which makes his voice authoritative and credible.