$SCR Dips to Support Zone – Is a Bounce in Sight?

Current Price: $0.620 (-1.90%)

Market Overview:

• 24H High: $0.686

• 24H Low: $0.598

• Moving Averages:

• MA(7): $0.631

• MA(25): $0.641

• MA(99): $0.700

SCR has shown a bearish movement, falling close to its 24-hour low at $0.598. The price remains below key moving averages, highlighting a downtrend with resistance near the MA(7) and MA(25) levels.

Technical Insights:

• Volume Decline: Lower trading volume is noted as SCR trends downward, indicating less buying interest.

• Support and Resistance Levels:

• Support: $0.598 – this level needs to hold to avoid further downside.

• Resistance: $0.631 (MA7) and $0.641 (MA25) – these need to be breached to shift momentum back to the bulls.

Trading Strategy:

Traders might consider watching for a bounce near the support zone at $0.598. A break below this support could open the way to further declines, whereas a recovery above $0.631 might signal a potential reversal.

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