Crypto
iExec's RLC Reached $1.077, Then Spent the Rest of the Day Giving It Back
A day after doubling, RLC rose another 48% to $1.077 on October 6 — its highest price since October 2025 — before closing at $0.7429, 31% below the peak. Volume hit $55.5 million, about 40 times its 30-day average.
On Monday, iExec's RLC doubled in a day. On Tuesday, October 6, it tried to do it again, and the shape of the day's candle tells most of the story. RLC opened at $0.7275, briefly dipped to $0.6759 in the 02:00 UTC hour, and then started climbing. The 05:00 UTC hour added 15.8%, reaching $0.9434 before closing at $0.8716. Buyers kept coming through the European morning, and in the 11:00 UTC hour RLC rose 10.3% to touch $1.077. That was its highest price since October 13, 2025, and nearly 48% above where the day began.
It didn't last. The 12:00 UTC hour erased 14.3%, taking RLC to $0.8755 on $5.85 million of volume, almost as much as the hour that made the high. The afternoon brought two more legs lower: −6.3% in the 15:00 UTC hour and −7.4% in the 17:00 UTC hour, to $0.7608. RLC closed the day at $0.7429, up just 2.1%, after trading $55.5 million — its busiest day on Binance in well over two years and about 40 times its 30-day average. The high was 45% above the close.
That kind of candle is often called a shooting star or a long upper wick: buyers pushed the price far higher during the day, but sellers took nearly all of it back before the close. It doesn't guarantee a top, but it shows that at higher prices, supply was waiting. Early on Wednesday, October 7, RLC dipped to $0.679 in the 02:00 UTC hour — just above Tuesday's $0.6759 low, the level we flagged in Tuesday's signals — and was trading near $0.72 a few hours later.
Even after the reversal, RLC's close was its highest since December 9, 2025, and the token is roughly three times its July low of $0.243. But the speculative flows that have been moving through older crypto tokens this month have tended to move on fast: The Sandbox, Gitcoin and Moonriver all saw similar exhaustion days before pulling back by a quarter or more. On Tuesday, the busiest new names were Numerai and Orca. Our guide to long upper wicks covers how traders read candles like Tuesday's.