$SKL /USDT Short Trade Setup – Bears Targeting $0.02315
$SKL /USDT is facing strong selling pressure, currently trading at $0.02599, down -6.51%. The chart shows a clear downtrend, with consistent lower highs and lower lows, confirming bearish dominance.
Market Overview:
🔹 Current Price: $0.02622
🔹 24h High: $0.02782
🔹 24h Low: $0.02599
🔹 24h Volume: 125.26M (
$SKL )
Why Bears Are in Control:
1️⃣ Key Support Broken: The price has dropped below the critical $0.02600 level, increasing downside risks.
2️⃣ Lower Lows Formation: A continuous pattern of lower lows highlights strong bearish momentum.
3️⃣ High Selling Volume: Rising volume during price declines suggests sellers are gaining strength.
Key Levels to Watch:
✅ Immediate Target: $0.02550 – A minor support that could trigger a temporary bounce.
✅ Final Target: $0.02315 – Major support where buyers may attempt to step in.
Short Trade Setup:
🔻 Entry Zone: $0.02600 - $0.02590
🔺 Stop Loss: Above $0.02650 to minimize risk.
🎯 Target 1: $0.02550 (Partial profit booking recommended)
🎯 Target 2: $0.02315 (Full target)
Breakdown Confirmation:
A strong move below $0.02550 with high volume could accelerate the decline toward $0.02315.
Risk Management Tips:
✔️ Use a strict stop-loss to protect against sudden reversals.
✔️ Consider partial profit-taking at $0.02550 while holding for the final target.
Final Thoughts:
Bears remain in control, and with momentum favoring the downside, SKL appears set to test lower support levels. Stay vigilant and manage your trade wisely.
#SKL