$SCR /USDT Technical Analysis Summary🔥

1.Current Price: 0.721 USDT, showing an increase of 11.08%.

2.Key Resistance: The main resistance level is at 0.800, which is expected to act as a strong barrier. A confirmed break above this level could push the price towards higher targets (e.g., 1.000).

3.Key Support: The main support level is at 0.600, acting as a strong base where buyers may step in. A break below this level could drive the price down to lower levels, possibly around 0.500 or lower.

4.Break of Structure (BOS): Multiple BOS levels during the downtrend indicate attempts by the price to transition to an uptrend. The latest BOS was broken near 0.650, giving a bullish signal for continued momentum as long as the price stays above this level.

5.Relative Strength Index (RSI): Currently at 64.513, indicating a near overbought condition. RSI should be closely monitored; if it goes above 70, a pullback might be expected.

6.MACD: The MACD line is at 0.023, with the signal at 0.022 and a positive histogram at 0.001. This alignment suggests a bullish trend, but caution is advised in case of any sudden reversal.

7.Divergences:

•Hidden Bearish Divergence at RSI level 50.823 indicates potential short-term weakness in the upward move.

•Hidden Bullish Divergence at RSI level 17.263 could support the continuation of the uptrend, especially if there’s a bounce from support.

▫️Conclusion

•Bullish Scenario: If the price manages to break above the 0.800 resistance level, it may target 1.000. Monitoring RSI is essential to avoid extreme overbought conditions.

•Bearish Scenario: A break below the 0.600 support level could lead to testing lower levels, around 0.500, which might be a potential entry point for short-term buyers.

▫️Recommendation: Wait for confirmation of a break above 0.800 to capitalize on upward momentum or consider buying at 0.600 with a strict stop loss.

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