#SCR 📌 General Overview:
The chart shows a classic Double Top formation. This formation usually indicates the end of a bullish trend and strengthens the possibility of a pullback.
📐 Formation Analysis:
🔺 Double Top Formation:
Peak 1 and Peak 2 indicate that the price has peaked twice at similar levels but could not surpass these levels.
The trough between the two peaks is considered the neckline of the formation.
In the case of a downward break of this line, the target is calculated by reflecting the distance between the peak and the neckline downwards.
🎯 Target Price:
The expected technical target when the neckline breaks is approximately 0.2588 USDT.
This level is about 28% below the current price (~0.3595).
📊 Technical Levels:
LevelPriceDescriptionResistance~0.3700Strong resistance area where the two peaks are locatedSupport (Neckline)~0.3150Double top necklineTarget0.2588Technical target after formation breakCurrent Price0.3595Price is in the second peak area
🔔 Technical Evaluation:
✅ Negative Signals:
The formation signals a potential decline.
The second peak could not surpass the first, which may indicate weakness in momentum.
If the price pulls back towards the neckline, the formation could be completed.
⚠️ Things to Watch:
The breakout has not yet occurred. The neckline needs to be clearly broken downwards.
Otherwise, the price may move to new peaks with an upward fake-out.
If a high volume drop supports the breakout, the probability of reaching the target increases.