25 February, 2024

Secret Coin Forms a Bullish Pennant With a Potential Target of $0.95

1 year ago

22 Nov, 2023

Secret Coin has been gaining bullish momentum in the last few days, forming a bullish pennant pattern on the chart. Secret saw a spike in prices and attained a weekly high of $1.118 but the bullish momentum seems to be losing steam. There is potential for prices to reach around $0.95 in the near future, as Secret continues to consolidate in a tight range with strong bullish support levels. The secret coin is trading at $0.8554 at the moment and looks set to continue on its upward trajectory as seen in the hourly and 4-hourly charts.

Secret coin weekly chart:Coinmarketcap

The secret coin has recorded a price surge of 11.24% in the last 24 hours while the trading volume was recorded at $8,096,422 USD.SCRT/USD pair price is above the 21-day moving average but below the 50-day moving average. The Fibonacci retracement chart shows that Secret is currently in the bullish zone with a potential target at $0.95, however, traders need to be cautious as a bearish trend might emerge soon.

Bulls dominate the upper trend zone and the price objective is $0.8804

The Secret coin seems to be gaining bullish momentum in its 4-hour chart as well. The price action has formed a solid uptrend, with prices staying above a rising trend line and also printing higher highs and higher lows for the past few days.

SCRT/USD 4-hour chart:TradingView

The bulls currently seem to be dominating the upper trend zone and traders can look to enter long positions with a tight stop loss. The potential target for Secret is $0.8804, as long as prices stay above the rising trend line support. However, it is crucial that traders remain cautious and avoid taking too much risk in this trade as a downside break could signal the start of a bearish trend.

The technical indicators show that Secret could potentially continue its upward momentum, with the RSI and MACD both showing strong buying signals. The Stochastic oscillator is also indicating that prices could rise in the near future, further confirming the bullish momentum.

The Secret coin price analysis on the hourly timeframe indicates a stagnant price action with relatively low volatility. The price has established a range between $0.7887 and $0.8113, but there seems to be strong bullish support at the lower end of this range. If prices break down below this support level, it could signal the start of a bearish trend, with potential targets around $0.7487 and $0.6926.

Overall, Secret looks like it could continue gaining bullish momentum in the near future, with prices likely to reach around $0.95 in the coming days. The ley support areas are at $0.8113 and $0.7887, while the key resistance levels are at $0.95 and $1.05. As such, traders should keep a close eye on these levels and act accordingly to maximize their profits from this trade.