SCRT Technical Analysis: Will The Uptrend Surpass 200-day EMA?

Key technical points:

Past Performance of SCRT

SCRT coin price continues the bullish rally started after the executive order signed by President Biden to analyze the pros and cons in the crypto space. The altcoin shows a growth of 15% in the past week resulting in the trendline breakout. However, the breakout is yet to surpass the 200-day EMA with the present threat of the death cross. 

Source-Tradingview

SCRT Technical Analysis 

SCRT coin price showed a parabolic recovery last week, projecting a bullish continuation to the following resistance level of $5.50. However, the psychological barrier of $5 may push the trend lower.  

The falling 50-day EMA may fall below the 200-day EMA keeping the threat of death cross alive. However, the potential upcoming bullish rally may result in a reversal for the EMAs. 

RSI Indicator: The RSI slope shows a parabolic recovery in the nearly oversold zone and approaches the halfway mark. Hence, the string crossing above the halfway mark will result in a solid bullish signal. 

Stochastic RSI Indicator: The K and D lines decrease the spread indicating a potential bearish crossover. However, the rising trend may enter the overbought zone before the crossover.

In a nutshell, SCRT technical analysis projects a bullish bias as the trendline breakout end the downtrend movement.

Upcoming Trend 

SCRT coin price might approach the $5.5 horizontal level if the trend surpasses the psychological barrier of $5. Moreover, if buyers maintain the grip over trend control, the rally could reach the $6 mark.

Support Levels: $4.5 and $4

Resistance Levels: $5.5 and $6