Dear readers, hello! Here Romain, for a technical review around the price evolution of the SCRT cryptocurrency. What are the major technical supports? How have prices been impacted during this week’s high volatility? The answer below.
SCRT – Weekly chart: The Tenkan still there to get in the way
This week the prices are trying to break this resistance which, decidedly, is blocking SCRT for many months.
The Weekly Tenkansituated at $1.24, plays the role of resistance. It still does not give in despite the buying pressure of this Friday, September 9.
As long as prices stay below, the medium-term trend remains bearish. The main support is at $0.88, the former low from the start of the summer. Finally, if the Tenkan drops, the bullish target is at $3.1, the weekly SSB dish.
As for volumes, they remain very lowa sign that for the moment the operators are not acting forcefully on SCRT.
SCRT – Daily chart: The cloud blocks!
This weekend is marked by the strong technical price rebound across the crypto market.
However, after an attempt with large percentages, up to 40% at the start of the day, SCRT gave up more than half of its evolution in less than 4 hours…
Only, now the cloud still plays the role of strong resistance and, if the prices do not close above the $1.35, the trend will remain unchanged… After these great efforts, it would be unfortunate for SCRT to remain blocked under the cloud. The Lagging Span is also blocked in the cloud, which confirms this lack of enthusiasm for the last few days.
Finally, the ROI gives a positive signal with a return above 50. No doubt a sign that the underlying trend is reversingbut this will be confirmed by a break in the levels mentioned above.
Thank you for following this technical analysis! And see you Monday for an update on the Bitcoin and Ethereumon video !
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