Scroll Becomes Binance's First Pre-Market Project

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 days ago

Should l Buy SCR?

Binance's First Listing: Scroll (SCR) is positioned as Binance's first pre-market listing project, creating a high-visibility moment in the market and closely tied to Launchpool distribution mechanics, with trading set to begin on October 11, 2024, at 10:00 (UTC).
Market Valuation Dynamics: Although reports suggest a valuation of $8.16 for Scroll, this figure remains unconfirmed, with CoinGecko currently listing SCR at approximately $0.04345885 and a market cap around $8.26 million, alongside a 24-hour trading volume of $2.77 million, indicating market sensitivity.
Liquidity Monitoring Importance: The liquidity and volume of SCR during the first trading window will be crucial monitoring points, particularly whether the 24-hour volume can sustain after the initial listing wave, as any significant drop could amplify slippage risks in a small-cap structure.
Market Sentiment Volatility: Current market sentiment is uneven, and the ability of SCR to hold near the $0.04345885 price point will be key for confirming its future performance, especially against the backdrop of volatility in other assets like Bitcoin, which may influence reactions to new listings.

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Technical Analysis for SCR

Technical Sentiment Analysis for Scroll (SCR). As of , Scroll (SCR) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 1 indicators are flashing buy, while 6 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SCR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, SCR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Scroll (SCR) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0347	0.0377	0.0405	0.0435	0.0463	0.0494	0.0522
Fibonacci	0.0377	0.0399	0.0413	0.0435	0.0458	0.0471	0.0494

About SCR

What is Scroll? Scroll is a Layer 2 scaling solution designed to enhance the Ethereum network's efficiency and scalability. It leverages zkRollup technology, a method that plays a crucial role in reducing transaction costs and improving transaction throughput on the Ethereum blockchain. By utilizing zkRollups, Scroll aims to address some of the most pressing issues facing the Ethereum network today, such as high gas fees and network congestion.At its core, Scroll is built on the principles of decentralization and security. It employs zero-knowledge proof technology, which allows for the verification of transactions without revealing any sensitive information about the parties involved. This technology not only ensures privacy and security but also contributes to the scalability of the Ethereum network by enabling more transactions to be processed off-chain.Scroll has been rigorously tested and audited to ensure its reliability and security. It has implemented a bug bounty program to encourage the community to identify and report potential vulnerabilities, further strengthening its security measures. Moreover, Scroll's development approach is open, inviting contributions and feedback from the wider developer community.With its recent launch on the mainnet, Scroll has opened up new possibilities for developers, allowing them to build and deploy Ethereum applications and tools with greater efficiency and at a lower cost. Its compatibility with existing Ethereum applications ensures that developers can easily integrate Scroll into their projects without the need for significant modifications.In summary, Scroll represents a significant advancement in blockchain technology, offering a scalable, secure, and cost-effective solution for Ethereum's scalability challenges. Its use of zkRollup technology and commitment to security and open development make it a promising platform for developers looking to build on the Ethereum network.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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