$SKATE
SKATE
Alpha
0.012684
+5.32%
/USDT SHORT TRADE SETUP
$SKATE is trading at 0.01202, consolidating tightly around the MA(7) and MA(25). The market is struggling to break past the MA(99) at 0.01247, suggesting potential weakness. We are looking for a break below the consolidation range to confirm the short entry.
Target Points
Taking profits on the potential dip:
TP1: 0.011800 (Breakout of local support)
TP2: 0.011500 (Intermediate support towards 24h Low)
TP3: 0.011220 (Retesting the 24h Low)
Stop Loss
Set stop loss above 0.012550 (Just above the MA(99) at 0.01247) to invalidate the bearish setup.
Sell and Trade here on $SKATE