$SKL /USDT – BEARISH BREAKDOWN TESTING CRUCIAL SUPPORT
SKL has faced intense selling pressure, dropping over 20% in the last 24 hours and sliding toward its critical $0.040 support. A breakdown below this level could open the door for deeper downside, while any bounce attempts are likely to meet resistance around the $0.045–$0.049 zone. Bears are in full control, and momentum indicators remain heavily oversold but without strong reversal signals yet.
Trade Setup (Short Bias)
Entry: $0.04150 – $0.04250
Targets:
TP1: $0.04000
TP2: $0.03850
TP3: $0.03680
Stop Loss: $0.04480
Market Outlook:
The overall structure is bearish with high sell volume and fading buyer interest. Unless SKL reclaims $0.045 on strong volume, the path of least resistance remains downwards. A clean break below $0.040 could accelerate the decline toward multi-month lows.
