📈 SKL/USDT Technical Analysis - 3 Key Price Targets 🎯
The SKL/USDT pair has been showing strong bullish momentum, with the price recently surging by +14.47%. Let’s break down the key technical levels and price targets for potential opportunities in the market.
🔹 Current Price: 0.04732 USDT
🔹 24h High: 0.04840
🔹 24h Low: 0.04015
🔹 24h Trading Volume: 215.92M SKL, 9.46M USDT
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Key Technical Levels:
1. Target 1: 0.04840 - Resistance Zone
The price has recently approached the 24h high of 0.04840, which has proven to be a strong resistance level. A successful break above this level could signal further bullish continuation, potentially pushing SKL towards higher targets. Watch for a retest and breakout confirmation here.
2. Target 2: 0.05000 - Psychological Level
The 0.05000 mark serves as a psychological resistance for traders, often acting as a key barrier for continuation. If momentum remains strong and buyers push past 0.04840, the next logical target is 0.05000. This is a critical level for bulls to hold for sustained upward movement.
3. Target 3: 0.05200 - Extended Resistance
On the longer-term chart, 0.05200 could act as the next extended resistance level. It aligns with previous price action highs and would be the next key target to monitor if SKL continues to trend upwards after breaking past the 0.05000 level.
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Stop Loss Level:
A conservative stop loss level would be around 0.04446, which is in line with the SAR (Stop and Reverse) value and provides a good risk-to-reward ratio if you're entering long positions.
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