🚨 Scroll (SCR) Faces Heavy Sell-Off Following Airdrop Launch – Down 19% in 24 Hours 🚨

The long-awaited Scroll (SCR) token launch on the Ethereum Layer-2 network took a surprising turn, as SCR prices dropped by nearly 20% within just a day of trading. Here’s the breakdown:$SCR

🪙 Scroll Airdrop Details

Amount Distributed: 55 million SCR (5.5% of total supply)

Reaction: Many participants expressed disappointment, feeling the distribution favored certain users over the loyal Scroll community.

💥 Community Reaction & Sell-Off Surge

Users received less SCR than expected, prompting some to sell their tokens quickly.

Notably, a user, Joshyy, shared that he invested time and money into farming SCR, only to receive a minimal airdrop. Another user chose to sell all SCR and exit the platform altogether.

📉 Bearish Momentum Builds

Indicators Signal Trouble:

The Bull Bear Power (BBP) indicator sits at -0.10, signaling bearish dominance.

SCR’s price hovers around the lower Bollinger Band, typically a sign of continued selling pressure.

🔮 Outlook for SCR

Support Level: $0.99 – Near all-time low since launch. Breaching this could lead to further declines.

Potential Rebound: If SCR demand rises, we could see a climb towards $1.55, with the next target at $1.72 if resistance levels are overcome.

🔍 Will the Scroll network turn sentiment around? Stay tuned as the market reacts to this volatile launch!

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