$SCR
/USDT Technical Analysis and Trade Signal 🚀🎯
Technical Analysis:
1. Current Price: $0.725
2. 24h High: $0.779
3. 24h Low: $0.695
4. Bollinger Bands (20, 2):
Upper Band (UP): $0.729
Middle Band (MB): $0.722
Lower Band (DN): $0.715
5. Parabolic SAR: $0.727
6. Volume: 27.29M SCR traded in 24 hours (moderate activity)
Momentum Indicators:
Relative Strength Index (RSI): Typically, if RSI > 70, it's overbought (potential for pullback), if RSI < 30, it's oversold (potential for bounce). As you haven't provided RSI data, I’ll infer price movement based on other indicators.
Moving Average Convergence Divergence (MACD): Positive MACD histogram implies buying momentum, while negative MACD signals selling pressure.
Market Sentiment:
Price is currently testing resistance around $0.727, with an opportunity to break above if bullish momentum continues.
The recent bounce off $0.715 suggests support at this level, but the market is currently range-bound.
Trade Signal:
Trade Type: Long (Buy) with confirmation of breakout above resistance.
Stop Loss: $0.715 (just below the Bollinger Band lower bound and recent support).
Take Profit Targets (T1, T2, T3):
T1: $0.735 (near upper Bollinger Band and psychological resistance)
T2: $0.745 (next major resistance level based on price action)
T3: $0.755 (further resistance region near 24h high)
Trade Momentum:
Bullish Momentum: The price is attempting to break above the $0.727 level, which could trigger a continuation of the upward trend if confirmed by volume.
Bearish Momentum: A rejection at $0.727, especially if the price falls below $0.715, would signal weakening bullish momentum, and a reversal to the $0.695 region is possible.
Summary of Trade Setup:
Entry Point: Above $0.727 (breakout above resistance)
Stop Loss: $0.715 (below support)
Targets:
T1: $0.735
T2: $0.745
T3: $0.755
Trade Direction: Bullish, with confirmation through a breakout above $0.727 and sustained price momentum.