SKL/USDT Maintains Bullish Trend Above 200 MA, Eyes 0.04500
$SKL

Current Price: SKL/USDT is trading at 0.04106, with an increase of +0.81%.200-Period Moving Average (MA): The price is above the 200-period MA at 0.03309, indicating a bullish medium-term trend.VWAP (Volume Weighted Average Price): The VWAP is at 0.04032, supporting the price's upward movement with sufficient volume.

RSI (Relative Strength Index): The RSI is at 73.93, signaling an overbought condition. A short-term correction might occur as the RSI approaches extreme levels.MACD (Moving Average Convergence Divergence):MACD Line: 0.00023Signal Line: 0.00096The MACD shows a bullish trend, as the MACD line is above the signal line, indicating continued positive momentum.

Support and Resistance:

Resistance Levels:Key Resistance: 0.04500, a historically strong level that may be tested if the uptrend continues.Secondary Resistance: 0.05000 if the price successfully breaks above the first resistance.Support Levels:Immediate Support: 0.03800, this level has been tested before and could act as support during a pullback.Further Support: 0.03500 near the MA, a critical level to maintain the bullish trend.

Short-Term Trend: Bullish with potential for a short-term correction due to the high RSI level.Bullish Scenario: If the price breaks above 0.04500, the next target could be around 0.05000.Bearish Scenario: If the price faces rejection, a pullback to 0.03800 or 0.03500 is possible.

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always perform your own research before making trading decisions.

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