Technical Analysis Report: SCRT/USDT (15-Minute Chart)
SCRT/USDT is currently trading at $0.5466, showing a significant 58.90% gain over the last 24 hours. This surge indicates strong bullish momentum, with the price bouncing off the $0.3300 low and reaching a 24-hour high of $0.6400. The Relative Strength Index (RSI) at 72.90 suggests overbought conditions, which may lead to short-term profit-taking or consolidation.
---
Key Levels and Indicators:
Resistance Levels (White):
First Resistance: $0.5554
Second Resistance: $0.6400 (Recent high)
Key Resistance: $0.7000
Support Levels (Green):
First Support: $0.4840
Second Support: $0.4014
Key Support: $0.3300
Trend Indicators:
Bullish Indicators (Green): Strong breakout above $0.4840, forming higher highs and higher lows.
Bearish Indicators (Red): RSI overbought at 72.90, signaling potential short-term correction or consolidation.
---
Trade Signals:
Short Trade Signal:
Entry Price: $0.5550 (near resistance)
Take-Profit Targets:
1. $0.5200
2. $0.4840
3. $0.4500
Stop-Loss Level: $0.5750
Strategy: Look for bearish RSI divergence or rejection near $0.5554 to enter short trades.
Long Trade Signal:
Entry Price: $0.5200 (on retracement)
Take-Profit Targets:
1. $0.5550
2. $0.6000
3. $0.6400
Stop-Loss Level: $0.4840
Strategy: Wait for support to hold at $0.4840 or $0.5200 to confirm the continuation of bullish momentum.
---
Cautionary Note:
SCRT/USDT is exhibiting strong bullish momentum, but traders should remain cautious of sharp pullbacks, especially as RSI levels indicate overbought conditions. Monitor price action closely at $0.5554 for a potential breakout or rejection. Stick to proper risk management and avoid over-leveraging.
---
#SCRT #CryptoSignals #Binance #CryptoTrading #TradingAlerts