$SKY /USDT BEARISH RETRACEMENT – TECHNICAL ANALYSIS

$SKY/USDT is showing bearish pressure after failing to sustain above resistance around 0.05650–0.05700. Price action forms lower highs, suggesting a continuation of the downtrend. Immediate support is at 0.05550 and 0.05450, while resistance lies at 0.05650 and 0.05750.

Trade Setup:

Position: Short

Entry: 0.05600–0.05650

Target 1 (TP1): 0.05550

Target 2 (TP2): 0.05450

Stop Loss (SL): 0.05750

Risk Management: Limit risk to 2% of total capital per trade; adjust position size according to stop loss distance to protect capital.

#CryptoTrading #TechnicalAnalysis #BearishSetup #SKYCrypto #RiskManagement $SKY

SKYUSDT

Perp

0.05145

+1.26%