As of mid-October 2024, $SCR is priced at approximately $1.14, showing a 1.73% decrease in the past 24 hours. SCR's market cap stands at $218 million, reflecting its growing presence, although the coin remains significantly below its all-time high of $3.69, which was reached on September 30, 2024.
Technical Overview:
Volatility: Moderate, with prices fluctuating between a cycle low of $1.01 on October 11, 2024, and a recent recovery to $1.20.
Sentiment: Currently bearish, with neutral market indicators like the Fear & Greed Index at 50.
Support Levels: $1.00, $1.10
Resistance Levels: $1.20, $1.67
Future Predictions:
Analysts predict that $SCR may rise by 48% in the coming weeks, possibly reaching $1.67 by late October. Long-term prospects are optimistic, with potential growth up to $5.30 by 2025, marking a possible 362% increase, driven by its cutting-edge use of zkRollup technology for Ethereum scalability.
Investment Considerations:
$SCR is still early in its lifecycle, and with only 19% of its total supply in circulation, liquidity could be a limiting factor. Its focus on enhancing Ethereum’s scalability gives it significant potential, but the current volatility makes it a high-risk investment, particularly given its 69% drop from the all-time high in just a few weeks.
Investors should monitor market trends and technical indicators closely before making decisions, especially with upcoming developments in the Scroll ecosystem.
