Cream Finance (CREAM) and iExec RLC Technical Analysis: What to Expect?
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iExec RLC
Behind this blockchain-based decentralized computing provider, iExec RLC, is the RLC token. Out of this protocol, people can monetize their computing resources.
Past Performance of RLC
The RLC token is stable, posting decent gains in the past few days.
From a top-down analysis, the path of the least resistance is northwards despite losses of mid-May 2021.
As of writing, RLC is up 10 percent against the USD, adding roughly five percent versus both BTC and ETH.
Meanwhile, trading volumes are up 170 percent to $140 million in the same period.
Day-Ahead and What to Expect
The revival of RLC prices and the subsequent arrest of the downtrend mirrors the confidence of the RLC/USDT technical analysis.
Based on the price chart, buyers are in control, printing higher highs in a positively inclined RLC market.
In all, the RLC/USDT price is trading within a bullish breakout pattern with the primary support at $3.
RLC/USDT Technical Analysis
Aforementioned, the RLC/USDT price is trading within a bullish breakout pattern. RLC buyers successfully soaked sellers of May 19.
Even if prices are still within May 19 bear bar, every low above $4 may be a loading opportunity with first targets at $7.5 and later $16.5—May 2021 highs.
Cream Finance (CREAM)
The Binance Smart Chain (BSC) and Ethereum DeFi protocol use the CREAM token.
Their operation is the provision of liquidity to important DeFi assets, allowing users to borrow and lend supported assets.
Past Performance of CREAM
In reflection of the general DeFi trend, CREAM prices are steady, significantly down from Q1 2021 highs and ranging.
CREAM is up nine percent versus the USD on rising trading volumes which reached $5.3 million.
Day-Ahead and What to Expect
The uptrend hasn't been invalidated despite the steep losses of the last few days.
CREAM prices are inside a $105 zone, capped at $75 on the downside and $180 as resistance from the daily chart.
However, bulls haven't cleared losses of February 2021.
CREAM/BUSD Technical Analysis
Aforementioned, CREAM/BUSD prices are in range mode, the aftermath of steep losses of February 2021.
Support lies at $95. If broken, CREAM prices may tank towards $50 in continuation of sell pressure.
On the flip side, gains above $105 open CREAM prices to a buy trend continuation of January 2021.
At spot rates, aggressive traders can load the dips with targets at $180. Losses below $100 cancel the uptrend.