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.