SKL Coin Technical Analysis

Timeframes:

30-Min Chart: SKL is trading within a tight range, with minor bullish momentum indicated by higher lows. The RSI hovers around 55, suggesting mild buying pressure. A breakout above $0.025 could signal a short-term rally.

1-Hour Chart: The coin is forming a symmetrical triangle, reflecting indecision. Volume is decreasing, often preceding a significant move. A break above $0.026 could push SKL toward $0.028, while a dip below $0.024 risks a retest of $0.022.

1-Day Chart: SKL remains in a macro downtrend. The 50-day MA ($0.030) is acting as resistance, with support at $0.020. A bullish reversal requires a close above $0.032 on strong volume.

Candlestick Sentiment:

Recent candles show long wicks on both ends, indicating equal pressure from buyers and sellers. The sentiment leans neutral, awaiting a decisive breakout.

Summary:

Short-term: Mildly bullish above $0.025.

Medium-term: Watch for breakout of symmetrical triangle.

Long-term: Bearish until $0.032 resistance flips to support.

Trade cautiously and confirm volume on breakouts!