$SC was completely dead for a long time with very low volume and almost no price movement. Then today, activity suddenly came in and the price started moving up strongly. On the 15 minute chart, SC pushed from around $0.000595 all the way to a 24 hour high of $0.001099. It is now around $0.000918, so the price has pulled back from the top but is still holding above the area where the move started.
The chart looks much more active and healthier than it did before because buyers brought both volume and movement back into the coin. But SC is still a very small coin, so this kind of sudden spike can become risky quickly. The price is now moving sideways after the rejection and has not been able to return to the high. It can still move higher if buyers step back in, but it is also possible that this becomes a trap and price starts falling without making much more upside. If the current area does not hold, the pullback could become sharper.
EMA(7) is at $0.000909, above EMA(25) at $0.000895 and EMA(99) at $0.000793. This is still a bullish structure on the 15 minute chart and the current price is slightly above all three EMAs. That is the positive part. But the EMAs are close to the current price, so losing the EMA(7) and EMA(25) area could weaken the move quickly, especially if the volume continues to fade.
Volume was almost dead for a long time before suddenly spiking as the price moved up. The current volume reading is 93.2M SC and 84.6K USDT, while the volume averages are higher at 115M and 137M. This shows that activity has started cooling after the big spike. The volume brought the move to life, but if it keeps fading while the price stays sideways or starts moving lower, the chance of a bearish move will increase.
Price: $0.000918
24h low: $0.000595
24h high: $0.001099
24h Volume Traded: 9.44M USDT
24h Volume: 11.04B SC
24h Change: +52.24%
Category: Storage Gainer
Spot only. DYOR, not financial advice
The chart looks much more active and healthier than it did before because buyers brought both volume and movement back into the coin. But SC is still a very small coin, so this kind of sudden spike can become risky quickly. The price is now moving sideways after the rejection and has not been able to return to the high. It can still move higher if buyers step back in, but it is also possible that this becomes a trap and price starts falling without making much more upside. If the current area does not hold, the pullback could become sharper.
EMA(7) is at $0.000909, above EMA(25) at $0.000895 and EMA(99) at $0.000793. This is still a bullish structure on the 15 minute chart and the current price is slightly above all three EMAs. That is the positive part. But the EMAs are close to the current price, so losing the EMA(7) and EMA(25) area could weaken the move quickly, especially if the volume continues to fade.
Volume was almost dead for a long time before suddenly spiking as the price moved up. The current volume reading is 93.2M SC and 84.6K USDT, while the volume averages are higher at 115M and 137M. This shows that activity has started cooling after the big spike. The volume brought the move to life, but if it keeps fading while the price stays sideways or starts moving lower, the chance of a bearish move will increase.
Price: $0.000918
24h low: $0.000595
24h high: $0.001099
24h Volume Traded: 9.44M USDT
24h Volume: 11.04B SC
24h Change: +52.24%
Category: Storage Gainer
Spot only. DYOR, not financial advice
