RLCUSDT Sell | S6T3 - Team Trading Post for Fredquantum-Kouba01 Traders Team.

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the name and introduction of the project token, and which exchange can be traded on, project/team/technical background etc.

The iExec RLC Token

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Introduction

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The token I will be analyzing will be the iExec RLC token with a current price of $2.08. the iExec RLC is known to be a leading provider of Blockchain-based decentralized computing system. The Blockchain is therefore utilizing purposely for organizing market network where users can monetize computing power, applications and datasets.

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Explaining how this is carried out, the Blockchain does this by providing on-demand access to a cloud computing system or resources. Also, the application can support application from various disciplines such as big data and healthcare, rendering and fintech among others. The main goes of this project is to reinvent cloud computing through creation of new cloud computing paradigm.

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Exchanges to trade:

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We can trade the iExec RLC in various platforms. The platform I will be using for my trading will be the #Binance Exchange. Other platform to trade this token include; Coinbase, Poloniex, Bittrex, Bithumb among others as seen below.

^{screenshot from tradingview.com}

Founders of iExec RLC

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The founders and CEO of the iExec RLC token is no other person but Gilles Fedak who is also known to have worked in the INRIA mainly as a research scientist at a postdoc in the UC San Diego and also at the ATER university. Therefore, the man uniqueness of this project is that it is an application which monetizes algorithm and data providers.

why are you optimistic about this token today and how long do you think it can rise

Why I am optimistic about the iExec RLC token

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I will perform a fundamental analysis on the iExec RLC token. The iExec RLC token has a current price of $2.08 with a market capitalization of $165 million which gives it a rank of #284 on the coinmarketcap market place.

^{screenshot from coinmarketcap.com}

The token has a volume of $8 million with a volume/market capitalization of 0.114. with all this data, it is quite evident to see why I am optimistic about token to trade.

how to analysis the token

Technical Analysis on RLC token

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Trade Entry

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My analysis will be done using the knowledge of support and resistance. Explaining this, let’s take a look at the chart analysis below. From the analysis below, we have the prices breaking a previous support level which later comes back to retest on this level which now acts as a resistance level.

The trade entry will be done at the retest level which acts as a bullish rejection area. The stop loss will be placed above the support level while the take profit to a risk to reward ratio of 1:2 as seen below.

^{screenshot from tradingview.com}

^{screenshot from tradingview.com}

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Trade Execution

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The trade execution will be done using the #Binance Exchange. I will use a leverage trading with a cross margin of 20X. From the screenshot below, we have a stop loss level at 1.992 and a take profit level at 1.947.

^{screenshot from Binance}

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^{screenshot from Binance}

your plan to hold it for a long time or when to sell

My plans on the iExec RLC token

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My time frame used in this analysis is the 5 minutes timeframe since I will be doing scalp trading and not long term trading. As seen, I actually planned this trade to hit the stop loss or the take profit level in at most a period of 2 hours if we have much consolidation.

^{screenshot from Binance}

From the screenshot above, we see a realized PNL in usdt of $4.9 with a fee of 0.14.

do you recommend everyone to buy and the reason for recommending this token.

My Recommendation on the iExec RLC token

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From the high volatility I have noticed on the iExec RLC token, I can say I recommend the purchase of this token and trading.
Also, I can say it is quite évidente to purchase this token for long term holding. This is because the token has an all-time high value of over $16 which means in the next Bull Run it might meet its all-time high value again. This will show a strong bullish move especially for the use case of this token.