$SCR /USDT Technical Analysis: Binance Market

The current price of $SCR

/USDT is $1.086, reflecting a 4.62% increase in the past 24 hours. Below is a detailed analysis of key price levels and trends:

Key Data Points:

24h High: $1.169

24h Low: $0.991

24h Trading Volume (SCR): 41.98M

24h Trading Volume (USDT): 45.06M

Moving Averages:

MA(7): $1.086

MA(25): $1.090

MA(99): $1.090

The moving averages indicate slight bearish these averages.

Recent Price Action:

The current price ($1.086) is near the lower end of its 24h range, just above its 7-period MA. The price is testing support around the $1.080-$1.085 zone, which has shown some resilience in the last few hours.

The 24h high of $1.169 has proven to be a significant resistance level, while the 24h low of $0.991 provides solid support for a potential rebound if the market faces downward pressure.

Immediate Market Sentiment:

The market has recently been consolidating in a range between $1.080-$1.090, with the $1.090 area acting as a resistance point. If the price breaks above this resistance level, we could see a push towards the $1.120-$1.130 range. On the downside, a break below $1.080 could lead to a retest of $1.050 or even the $1.000 psychological support level.

Target Prediction:

Short-term target: If momentum continues upward, target the $1.120-$1.130 range as the next key resistance zone.

Downside risk: Watch for a dip towards the $1.050-$1.000 range if bearish pressure increases.

Conclusion:

Currently, SCR/USDT shows a neutral-to-slightly bearish trend, with price consolidating near its support level of $1.080. Watch for a potential breakout above $1.090 for further bullish movement, with a target towards $1.120-$1.130. Conversely, a breakdown below $1.080 could lead to further downside risk towards $1.050 or $1.000. Keep an eye on the volume, as an increase could #BinanceAlphaAlert #BTCNextMove #USUALBullRun #ElSalvadorBTCReserve #USJoblessClaimsFall