Price Action Analysis for Coin #SCR
The SCR/USDT pair on the 4-hour chart is showing price action at a crucial testing phase of the main descending trendline (marked by the dotted white line), currently trading at $0.04343. The price is reacting positively with the moving averages that have started to curve upwards, indicating a potential attempt to regain positive momentum. Based on the Fibonacci tool data, the upcoming movement levels are defined as follows:
Pivot Point (PP): located at $0.04544, this level represents the key breakout barrier that buyers must hold above to ensure a full shift to an uptrend.
Target Resistance Levels: If the price successfully breaks above the descending trendline and the pivot point, the consecutive upward targets are set at TP1: 0.04544$ (as a launch point), then TP2: $0.04962, reaching the maximum target at TP3: $0.05585.
Protective Support Levels: The price is currently resting above the first support wall ST1: $0.04162, while the second support level and last line of defense at ST2: 0.03985$ represents the most critical defense line in case of any pullback.
The most likely scenario is continued attempts to break the descending trendline from above the support level ST1, while monitoring price stability upon touching the pivot point $0.04544.
#SCR #Scroll #Crypto #AIMONACCI
The SCR/USDT pair on the 4-hour chart is showing price action at a crucial testing phase of the main descending trendline (marked by the dotted white line), currently trading at $0.04343. The price is reacting positively with the moving averages that have started to curve upwards, indicating a potential attempt to regain positive momentum. Based on the Fibonacci tool data, the upcoming movement levels are defined as follows:
Pivot Point (PP): located at $0.04544, this level represents the key breakout barrier that buyers must hold above to ensure a full shift to an uptrend.
Target Resistance Levels: If the price successfully breaks above the descending trendline and the pivot point, the consecutive upward targets are set at TP1: 0.04544$ (as a launch point), then TP2: $0.04962, reaching the maximum target at TP3: $0.05585.
Protective Support Levels: The price is currently resting above the first support wall ST1: $0.04162, while the second support level and last line of defense at ST2: 0.03985$ represents the most critical defense line in case of any pullback.
The most likely scenario is continued attempts to break the descending trendline from above the support level ST1, while monitoring price stability upon touching the pivot point $0.04544.
#SCR #Scroll #Crypto #AIMONACCI