$SCRT currency hits a resistance zone and prepares for a corrective downside wave
• Technical direction: rejection at resistance / corrective decline (Bearish Rejection)
• Monitoring zone: 0.0365 – 0.0390
🎯 Downside price targets:
• TARGET 1: 0.0356
• TARGET 2: 0.0342
• TARGET 3: 0.0329
❌ Scenario invalidation level: a candle close above 0.0400 (breakout of the red resistance zone and the orange moving average)
💡 Technical rationale: the price hits the red resistance range shown after a brief spike (+27.40%), leaving an upper wick indicating bearish rejection upon breakout over the higher resistance line (orange). Despite the momentary momentum rising (Momentum Rising ↑), the overall market environment reflects a bearish trend system (Bear Trend / Bear 29%), which suggests a choppy corrective move according to the white path shown toward the lower targets.
#USJulyCPI&PPIDueThisWeek #USJulyPPIFlat
• Technical direction: rejection at resistance / corrective decline (Bearish Rejection)
• Monitoring zone: 0.0365 – 0.0390
🎯 Downside price targets:
• TARGET 1: 0.0356
• TARGET 2: 0.0342
• TARGET 3: 0.0329
❌ Scenario invalidation level: a candle close above 0.0400 (breakout of the red resistance zone and the orange moving average)
💡 Technical rationale: the price hits the red resistance range shown after a brief spike (+27.40%), leaving an upper wick indicating bearish rejection upon breakout over the higher resistance line (orange). Despite the momentary momentum rising (Momentum Rising ↑), the overall market environment reflects a bearish trend system (Bear Trend / Bear 29%), which suggests a choppy corrective move according to the white path shown toward the lower targets.
#USJulyCPI&PPIDueThisWeek #USJulyPPIFlat