SCRT coin price struggles to sustain above the 200-day EMA after a drastic 20% in the last week. Will buyers withhold the last stand?

Key technical points:
<ul>
 	<li style="font-weight: 400">The price action forms a Doji at the 200-day EMA.</li>
 	<li style="font-weight: 400">The SCRT prices hinge at the $5 mark.</li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of Secret is $30.73 Million, marking a 50% rise.</li>
</ul>
<h2>Past Performance of SCRT</h2>
SCRT prices fell by 20% in the last week, starting from the vast supply met near the $6.75 mark to the $5 mark. The downfall breaks below the 50 and 100-day EMA before clinging on to the 200-day  EMA. The Doji formation at the support confluence of the 200-day EMA and the $5 mark halts the downtrend and hints at a reversal possibility.

<img src="https://s3.tradingview.com/snapshots/p/PCofVCQ2.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/PCofVCQ2/">Tradingview</a>
<h2>SCRT Technical Analysis </h2>
The reversal possibility in the SCRT coin price must surpass $5.5 and avoid direct retracement to $5, so the price action avoids a head and shoulder formation. Hence, the $5.5 breakout will be a less risky entry opportunity for bullish traders. 

The flattish trend in the 50 and 100-day EMA keeps the constant threat of a bearish crossover with the struggling to sustain above the 200-day EMA. Hence, the EMAs are on the verge of giving a sell signal.

RSI Indicator: The freefall trend in the RSI value continues after breaching the halfway mark in the daily chart. Hence, the indicator reflects an increase in selling pressure with the 14-day SMA fallout.

MACD Indicator: The MACD and signal lines give a bearish crossover and continue the approach to the zero line. Moreover, the increasing trend in bearish histograms reflects the solid underlying bearishness. 

In a nutshell, the SCRT technical analysis highlights the 200-day EMA possibility as the downtrend gains momentum.
<h2>Upcoming Trend </h2>
SCRT coin price hinges on the 200-day EMA, and the increasing selling pressure projects a higher downtrend possibility. Hence, the fallout of the EMA will illuminate a buying opportunity with the potential of reaching the $4.60 mark, accounting for a 10% fall. 

Support Levels: $5 and $4.5

Resistance Levels: $5.5 and $6

SCRT Technical Analysis: Last Stand At $5 Holdbacks 10% Fall

SCRT coin price struggles to sustain above the 200-day EMA after a drastic 20% in the last week. Will buyers withhold the last stand?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

SCRT Technical Analysis: Last Stand At $5 Holdbacks 10% Fall

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