$SCR is currently trading at 1.32, down 8.33% from its recent high of 1.44 and 6.25% below its recent low of 1.40. The cryptocurrency is experiencing a pullback after failing to sustain above the 1.40 level.
1. Trend: Short-term downtrend
2. Support: 1.30, 1.25, 1.20
3. Resistance: 1.40, 1.44, 1.50
4. RSI (14): 41.12 (Neutral)
5. MACD (12, 26): Bearish crossover
6. Moving Averages:
- 50-day MA: 1.38
- 200-day MA: 1.42
*Analysis:*
The recent high of 1.44 was rejected, indicating a lack of buying pressure. The pullback to 1.32 suggests that sellers are taking control. The RSI is neutral, but the MACD's bearish crossover indicates a potential downtrend.
*Trading Strategy:*
*Bearish Scenario:*
1. Sell below 1.30, targeting 1.25 and 1.20.
2. Stop-loss above 1.40.
*Bullish Scenario:*
1. Buy above 1.40, targeting 1.44 and 1.50.
2. Stop-loss below 1.30.
*Recommendation:*
Caution is advised due to the uncertain market sentiment. Wait for a clear breakout above 1.40 or a bounce from the 1.30 support level before entering a trade.
*Risk Management:*
1. Position size: 2-5% of portfolio.
2. Risk-reward ratio: 1:2 or 1:3.
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