- The RSI chart shows a bearish divergence concerning SCRT coin price
- The SCRT/BTC pair was trading at 0.0001538BTC with a gain of 5.6%
- The 24-hour trading volume in SCRT is $89.1 Million, indicating a 38.21%
The SCRT coin provided a great long opportunity for crypto investors on October 25th when it broke through the $7 All-Time High resistance. The coin price provided a proper retest to this level and continued to rally higher. The coin displayed a 50% growth from the breakout point and marked $10.8 as the new ATH for the SCRT coin.
According to the crucial EMAs, the SCRT coin is in a strong uptrend, where its price is trading above 20, 50, 100, and 200 EMA lines.
The RSI value of 78 indicates a strong bullish sentiment in the SCRT coin. However, the RSI line has shown bearish divergence in its chart, projecting weakness in the bull rally.
SCRT Coin Shows A Divergence Pattern
The SCRT coin shows a divergence pattern in its 4hr time frame chart. Though this pattern itself follows a bullish trend, it provides an excellent short trade if the price breaks down from the ascending support trendline. The SCRT coin price is currently trading at $9.56, with an intraday gain of 9.82%.
According to the traditional pivots, the nearest horizontal resistance for SCRT price is $10.8, followed by the $12.4 mark. If the price starts moving lower, the nearest support would be $9, followed by the $7.61.
The MACD indicator (BULLISH) shows both the MACD line and signal lines moving higher above the neutral SCRT (0.00), indicating bullish momentum.
Conclusion: From the technical perspective, the overall trend for the SCRT coin is strongly bullish. However, as mentioned, the coin chart also displays a bearish pattern, and the crypto should wait for a proper breakdown from the support trend before initiating a short trader.
Support– $9
Resistance– $7.61