Here is why SCRT is up by 12% so far today
The crypto market is experiencing a mixed performance, but SCRT has added more than 12% to its value in the last 24 hours.
The crypto market cap is still around the $2 trillion mark despite the mixed performance experienced over the past few hours. Bitcoin is trading around the $42k mark after failing to top the $45,000 resistance level.
Ether is trading around $3,200 and has been down by less than 1% in the last 24 hours. However, despite the mixed performances, SCRT, the native token of the Secret Network, has been up by more than 12% in the last 24 hours.
The token has been rallying as the nonfungible token (NFT) collection to be released by Quentin Tarantino continues to gain coverage. The Wall Street Journal recently covered the upcoming launch of the NFT collection. The publication said;
“The battle over super-rare Tarantino NFTs on Secret Network is heating up as Quentin Tarantino accuses Miramax of trying to sabotage the auction – while issuing a cease and desist demand to Miramax.”
SCRT is trading at $8.15 at press time, up by more than 12% over the past 24 hours. It has outperformed numerous cryptocurrencies during that period.
Key levels to watch
The SCRT/USDT 4-hour chart shows that the cryptocurrency is currently performing excellently. The technical indicators show that SCRT could rally higher over the coming hours or days.
SCRT’s MACD line is above the neutral zone, an indication of its strong performance at the moment. The RSI of 63 shows that SCRT is heading towards the overbought region.
If the current rally is sustained, SCRT could top the $10 psychological level over the coming hours. In the event of an extended bullish performance, the cryptocurrency could set a new all-time high above the $12 mark.
