Can SCRT breakout of the symmetrical triangle for $7.8+ target?
The Secret Network distinguishes itself by emphasizing data privacy and end-to-end encryption, which Ethereum and other blockchains do not provide. Secret node operators, in contrast to other public blockchains, use specialized hardware to run code in secure enclaves known as Trusted Execution Environments (TEEs). Let us review the SCRT price:
Bullish Scenario: SCRT is now trading above the $4.8 support level. If it maintains above this zone and the $5.58 resistance level holds, we might see a rise towards $6.14, $6.69, and $7.81.
Bearish Scenario: Since a few weeks, SCRT has been in a downtrend channel, and we aren't quite out of the woods yet to have a strong optimistic bias. It is still in a downturn on higher time intervals, such as daily, weekly, and monthly. Failure to retain the $4.8 support level might lead to a decline to $3.55, $2.83, and even lower levels.
Bullish Scenario: SCRT is now trading above the $4.8 support level. If it maintains above this zone and the $5.58 resistance level holds, we might see a rise towards $6.14, $6.69, and $7.81.
Bearish Scenario: Since a few weeks, SCRT has been in a downtrend channel, and we aren't quite out of the woods yet to have a strong optimistic bias. It is still in a downturn on higher time intervals, such as daily, weekly, and monthly. Failure to retain the $4.8 support level might lead to a decline to $3.55, $2.83, and even lower levels.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.