Today's Decline Ranking SCRT Analysis: How to Break the Deadlock?
The five-minute K-line of SCRT staged a bloody scene, opening at $0.24 and violently surging to $0.54. Before the bulls could celebrate, they were headshot back to $0.23 by the bears, currently stuck around the middle band of the Bollinger Bands at $0.244, playing dead. The Bollinger Bands are tightening like a noose, with the upper band at $0.248 accumulating a large amount of trapped positions, while the lower band at $0.2407 is on the verge of collapse, with trading volume shrinking to a 10-day moving average of 680,000, and market liquidity nearing exhaustion. The yellow moving average briefly showed a bullish trend before being violently washed out, with a long bearish candle piercing through the critical line at $0.24. If this level is lost, it will directly test the previous low of $0.23.
Key Data Calibration:
Resistance/Support Levels: The resistance level at $0.248 and the 200-day moving average at $0.357 form a double pressure, while the support level below $0.2407 has a critical defense line at $0.29.
Divergence in Volume and Price: The 24-hour trading volume surged by 217% but the price plummeted, with open contracts sharply reduced by 29%, indicating that after a double kill of bulls and bears, the main force has retreated;
Derivatives Warning: Binance's long position ratio of 1.2 seems optimistic but contradicts the overall neutral long-short ratio of 0.9631, beware of contract traps.
Latest Variables: The SEC's cryptocurrency regulatory working group is targeting speculative coins, and small-cap coins like SCRT have become policy minefields. Although the Nasdaq rose by 4.35% overnight, capital is flowing towards compliant assets like Bitcoin or Ethereum, with altcoins becoming a heavy disaster zone for bloodletting.
Operational Strategy:
• The current price of $0.244 is a death cross zone; a break below $0.2407 requires a stop-loss.
• Aggressive traders can place orders at $0.238 to bet on a rebound, but the rebound space is limited by the trapped positions at $0.248.
• Right-side traders should wait for a volume breakout above $0.25 (with a trading volume > 1.5 million) before chasing.
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