Professional Analysis Report for $SCR /USDT

Price Overview

Current Price: $1.022 (+0.39%)

24h High: $1.315

24h Low: $0.990

24h Volume (SCR): 149.09M

24h Volume (USDT): 174.26M

Technical Indicators1. Support and Resistance Levels:

2. Volume Analysis:

The Volume SMA 9 (short-term moving average of volume) is currently at 144.092K, indicating decent market activity within recent sessions.

There is increased volume around the $1.022 price point, suggesting some buying interest in the area.

3. Price Trend:

The price has been fluctuating between $0.990 and $1.315 in the last 24 hours, showing a relatively high level of volatility.

Over the last 15-minute interval, the price has moved upward from $1.000 to $1.022, indicating potential short-term bullishness.

Trade Recommendations

Long Trade Entry:

1. Entry Point 1: $1.000

Rationale: This is a strong support level based on both technical analysis and psychological importance. If the price retraces to this point, it could be a good opportunity to enter a long position, assuming buying interest returns.

2. Entry Point 2: $1.022

Rationale: The price at $1.022, currently showing upward momentum, could continue its short-term rally. A breakout above $1.050 would validate this move further.

Stop Loss for Long Positions:

Stop Loss: $0.990

Rationale: If the price breaks below $0.990 (the 24-hour low), it could signal further downside pressure.

Short Trade Entry:

1. Entry Point 1: $1.050

Rationale: This is a key resistance level where the price has struggled to break in recent sessions. A failure to sustain above $1.050 could trigger a retracement, offering a good short opportunity.

2. Entry Point 2: $1.100

Rationale: A higher resistance level that could also offer a short trade opportunity if the price fails to break convincingly above it.

Stop Loss for Short Positions:

Stop Loss: $1.120

Rationale: If the price breaks above $1.100 and moves towards $1.120, it could indicate a bullish breakout, invalidating the short trade.