$SCRT

The 1-hour chart for #SCRT/USDT shows the price currently trading at approximately $0.1886, just below the 200-period moving average, which has acted as a significant resistance level. After attempting to break above this level, the price was rejected, leading to a potential downside movement.

RSI: The RSI is at 43.59, indicating a neutral to slightly bearish sentiment. It suggests that the market is not oversold or overbought, but the momentum could be shifting towards further downside pressure.

MACD: The MACD shows a slight bearish crossover, with the histogram turning negative. This suggests that the upward momentum may be weakening, and there could be more downside potential.

Resistance: Immediate resistance is found around $0.1961 (200-period moving average). A stronger resistance level is at $0.2000, which could be tested if the price manages to recover.

Support: Immediate support lies around $0.1800, with stronger support around $0.1700, which could act as a cushion if the bearish pressure continues.

Bearish: If the price continues to be rejected by the 200-period moving average and the bearish indicators hold, the price might drop towards $0.1800 or even lower to $0.1700, especially if bearish pressure increases.

Bullish: For a bullish scenario to play out, the price would need to break above $0.1961 and hold above it. In that case, the next target could be $0.2000.

Disclaimer:
This analysis is for educational purposes only and should not be considered financial advice. Cryptocurrency trading carries a high level of risk and may not be suitable for all investors. Always conduct your own research before making any trading decisions.

#6thTrade #MarketSentimentToday #BecomeCreator #Market_Update