$SKL / USDT Analysis

๐Ÿ”น Pattern: Ascending Channel Formation (Bullish)

The formation indicates a bullish trend as the price consolidates within the ascending channel.

๐Ÿ”น Breakout Scenario:

If $SKL breaks the upper trendline, we could see a strong bullish move toward the target of $0.10.

๐Ÿ”น Reversal Scenario:

However, if $SKL breaks the lower trendline or support, we could see a downward move and a potential fall. Keep an eye on this trendline for confirmation.

๐Ÿ”น Key Levels: #SKL

Target: $0.10

Support: Watch the lower trendline for possible breakdown.

Action Plan:

Bullish Setup: Wait for the breakout above the trendline for potential long entries.

Bearish Setup: If the trendline breaks, consider re-evaluating your position and using a stop loss to manage risk.

Reminder: Always stay alert for market changes and adjust your strategy accordingly.