---$SCRT
๐ SCRT/USDT: The Breakout is Here!
Take a look at this 4-hour chart of SCRT/USDT, where a textbook bullish setup has just unfolded! The technicals are signaling a strong upward move, and this could be the opportunity you've been waiting for. Let me walk you through the setup and the potential targets.
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๐ Key Technical Setup
1. Ascending Triangle Formation:
The price has been consistently forming higher lows, creating an ascending trendline of support.
Simultaneously, the resistance zone near $0.67 - $0.70 has been tested multiple times, weakening with each attempt.
This pattern is a classic bullish continuation signal, suggesting that a breakout was imminent.
2. Breakout Confirmation:
The price has decisively broken above the resistance level, accompanied by an increase in momentum.
With this breakout, SCRT is poised to test higher levels in the coming sessions.
3. Volume Surge:
Volume is a critical confirmation tool, and here we see a noticeable increase, confirming that the breakout has strong backing from buyers.
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๐ฐ Key Levels to Watch
1. Support Levels:
Immediate support lies at $0.67 (previous resistance now turned into support).
Stronger support can be found at $0.45, which aligns with the base of the triangle.
2. Resistance Levels:
The next major resistance is around $0.72 - $0.75. Breaking this could open the door for even bigger moves.
Beyond that, the psychological level of $1.00 becomes a long-term target.
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๐ Price Targets
Using the height of the ascending triangle as a projection:
Short-Term Target: $0.75 - $0.80
Mid-Term Target: $1.00
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โ ๏ธ Risk Management
1. If youโre trading this breakout:
Place a stop-loss slightly below $0.65 to manage risk in case of a pullback.
Look for volume confirmation during any retests of the breakout zone.
2. Be cautious of sudden reversals or low-volume pullbacks.
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๐ก Whatโs Next?
This breakout could be the start of a significant rally for SCRT/USDT. The ascending triangle pattern and the breakout above resistance suggest a bullish continuation. If the momentum sustains, we could see higher price levels soon.
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Are you ready to ride this move? Let me know your thoughts and strategies in the comments! Stay tuned for more updates and setups. ๐
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