$SKL
Can $SKL recover after the recent drop? 🔥
The price of $SKL has decreased by 7% from its breakout level, but traders are still closely monitoring the situation. Some indicators suggest a bullish recovery, while others show caution:
📊 Bullish Indicators:
✅ Whale accumulation - adding 200 million SKL in 24 hours
✅ Breaking the downward trend line with strong trading volume
✅ Exponential moving averages and Bollinger Bands indicate a trend phase
⚠️ Bearish Risks:
❌ Relative Strength Index is in overbought territory - needs to cool down
❌ Foreign exchange reserves are rising (profit-taking pressure)
❌ Stuck near a key resistance level around 0.042
🎯 Trading Setup:
Entry ← Break above 0.042-0.044
Stop Loss ← 0.039
Targets ← 0.046 / 0.052 / 0.059
👉 The SKL structure remains strong, but risk management is key. A rise in Bitcoin (BTC) price may help push SKL higher - if it clearly breaks the resistance level.
Is it bullish or bearish for the price of $SKL? Leave your thoughts ⬇️
