Technical Analysis and Trade Strategy $SCR

/USDT

Technical Analysis

1. Price Action Overview:

Current Price: 0.981 USDT

The price is currently near the middle of the Bollinger Bands (0.981), suggesting that SCR/USDT is in a neutral range, with a slight bullish sentiment as it's above the middle band.

The SAR (0.990) is also indicating an uptrend as itโ€™s slightly below the current price, supporting the idea of bullish momentum.

2. Bollinger Bands Analysis:

Upper Band: 1.016 (Resistance level)

Middle Band: 0.981 (Current price level)

Lower Band: 0.945 (Support level)

Price is near the middle band, which suggests consolidation but with potential for upward movement if it breaks above the upper band (1.016).

4. Resistance & Support Levels:

Resistance: 1.016 (Bollinger Upper Band) and 1.032 (24-hour High)

Support: 0.945 (Bollinger Lower Band) and 0.915 (24-hour Low)

Trade Strategy with Target Keys ๐ŸŽฏ

Bullish Scenario (Uptrend Continuation):

Entry Point: Look to enter near the current price (0.981) or if it pulls back toward 0.945 (lower Bollinger Band support).

Target 1 (๐ŸŽฏ Target 1): 1.016 (Bollinger Upper Band)

Target 2 (๐ŸŽฏ Target 2): 1.032 (24-hour High)

A strong resistance level; if the price breaches 1.016, it could test 1.032. Watch for any signs of a breakout.

Target 3 (๐ŸŽฏ Target 3): 1.05โ€“1.07

If the momentum remains bullish, consider this as an extended target zone for a further upward move.

Bearish Scenario (Trend Reversal or Consolidation):

Entry Point: Look for price rejection at 1.016 or 1.032 to enter short. Alternatively, wait for a break below the 0.945 support level to enter short.

Target 1 (๐ŸŽฏ Target 1): 0.945 (Bollinger Lower Band)

If the price breaks below 0.945, this could signal a bearish move back toward the lower levels.

Target 2 (๐ŸŽฏ Target 2): 0.931 (previous low near 0.931)

Target 3 (๐ŸŽฏ Target 3): 0.915 (24-hour Low)

A major support level; if price declines below 0.945 and 0.931, it could eventually reach 0.915.

#Share1BNBDaily