🚨 SKL/USDT – Daily Timeframe Technical Analysis 🚨
SKL has shown an explosive +65% intraday rally, breaking out from a heavily compressed price range after a prolonged downtrend. This sudden momentum has caught the attention of traders, but we must zoom out and assess the bigger picture before chasing the pump. 📊
🔍 Technical Overview:
Current Price: $0.04852
Resistance Zone: $0.065 – $0.067 (Major supply zone + previous structural rejection)
Support Zone: $0.027 – $0.030 (Recent accumulation area)
Trendline: Still under the long-term descending trendline which has acted as dynamic resistance since the mid-2021 peak.
📈 Bullish Case:
If SKL manages to break and close above $0.067 with strong volume, we could see:
A confirmed trendline breakout
Potential upside targets: $0.085 → $0.100 psychological zone
Increased trader interest & possible FOMO rallies
---#ETH5kNext?
📉 Bearish Case:
The blue resistance box marks a high-probability rejection zone where SKL could face selling pressure:
Price could retrace back towards $0.035 – $0.030 support
A failure to hold $0.030 could drag SKL back towards all-time low zones
---#CPIWatch
📊 Trader’s Mindset:
Aggressive traders may look for short-term scalps within the $0.050 – $0.065 range but should monitor volume closely.
Swing traders should wait for a daily candle close above $0.067 to confirm a potential mid-term trend reversal.
Always protect capital with stop-loss management — volatility can reverse gains quickly.
---#ETHRally
💡 Key Insight: This pump may be a short squeeze rather than a true trend reversal unless we break that $0.067 ceiling. Patience will pay more than FOMO here.
📍 Chart shows critical resistance, potential breakout path, and possible rejection pattern — stay disciplined and trade the plan, not emotions.
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