$SKL /USDT is showing a very strong bullish momentum on Binance, with the price currently at 0.04888 USDT, marking a 73.09% gain in the last 24 hours. The rally has pushed the token close to its 24-hour high of 0.05300 USDT, while maintaining a strong bounce from the day’s low of 0.02762 USDT. The trading activity has been intense, with 3.21 billion SKL tokens exchanged in the past day, alongside a USDT volume of 136.56 million, suggesting heavy market interest and liquidity.
The moving averages are aligned in a bullish formation, with MA(7) at 0.04753 above MA(25) at 0.04013, and both sitting well above the MA(99) at 0.02752. This positioning reflects sustained buying pressure and potential support levels in case of pullbacks. The 1-hour timeframe indicates short-term traders are driving the surge, but options to view the 15-minute, 4-hour, and daily charts could help assess whether this breakout is part of a longer-term trend or a short-lived spike. If momentum continues, breaking above 0.05300 USDT could open the door for another leg higher, but volatility should be expected.
