$SCRT coin analysis on the hourly frame:
1. General price trend:
The price is in a clear upward trend, as it rose sharply, achieving gains of 43% within 24 hours.
The moving averages (MA) support the upward trend:
MA(7) is above MA(25), and both are above MA(99), indicating the strength of the upward momentum.
2. Relative Strength Index (RSI):
The RSI reading of 80 indicates that the asset is in the overbought zone, which means that a correction is likely soon.
3. MACD indicator:
The MACD and Signal lines are in a positive crossover, with the gap between them widening, which supports the continuation of the upward trend.
The histogram columns are positive and increasing.
4. Support and resistance levels:
Current resistance is at $0.6950 (recent high).
The closest support is at $0.5995 (previous consolidation area).
Recommendations:
Buy: If you are already in the market, the stock can be held as long as the price is above MA(7) and the support is not broken.
Caution: RSI is in the overbought zone, which means a possible correction is coming. Reversal signals can be monitored.
Take Profit: Place a stop loss order below MA(7) or support at $0.5995 to avoid big losses.