SCRT Technical Analysis: Trendline Breakout Struggles Near 200-day EMA
Key technical points:
Past Performance of SCRT
SCRT prices overcome the high-selling pressure at the highly influential resistance trendline with a reversal fueled by the morning star pattern slightly below the $0.45 mark. However, the rising prices struggle to surpass the 200-day EMA. Moreover, the retracement comes as the retest of the EMA fallout.
Source-Tradingview
SCRT Technical Analysis
SCRT prices show an overnight growth of 10% resulting in the bullish engulfing candlestick reflecting the release of underlying momentum. Therefore, a breakout of 200-day EMA will result in a price jump to $5.50.
The crucial 200-day EMA maintains sideways movement as the 50-day EMA falls by threatening to give a death cross in the daily chart. However, the rising prices attempt to reverse the 50-day EMA and avoid the death cross.
RSI Indicator: The RSI slope skyrockets above the 14-day average and the 50% mark as the altcoin approaches $5.
Stochastic RSI Indicator: The sudden K and D lines surge brings a bullish crossover in the oversold zone.
In short, SCRT technical analysis shows schemes a possibility of the bullish rally reaching $5.5.
Upcoming Trend
SCRT coin price will surpass the 200-day EMA if it closes above the $5 mark and will increase the possibility of exceeding the 50-day EMA and reaching $5.50. It will account for a jump of 10%.
Contrarily, closing below the descending trendline will nullify the bullish rally idea and result in a free fall to the $4.5 mark.
Support Levels: $4.5 and $4.25
Resistance Levels: $5.25 and $5.5.
