Key structure: Support $9.80–$10.00; resistance $11.20 and $11.50.
Buy setup: Accumulate near $10.00 if volume stabilizes; add on reclaim of $10.80.
Sell setup: Trim at $11.20 if upside fails; take profits above $11.50 supply zone.
Context: Strong 30-day momentum (+30.68%) supports bounce; watch daily close above $11.00.
Price Structure and Momentum
SKDDB trades at $10.52, up 6.64% daily but down 6.82% weekly, signaling a counter-trend rally within a broader monthly uptrend.
Immediate support holds at $9.80–$10.00, while resistance caps upside at $11.20, with a stronger barrier at $11.50.
Intraday recovery is supported by significant taker buy volume ($3,999.76), indicating urgent demand rather than passive accumulation despite short-term profit-taking pressure.
Trading Strategy and Outlook
Short-term: Watch for breakout above $11.00 with sustained volume to confirm bullish continuation toward $11.50 resistance.
Mid-term: If price holds above $10.00 support, the monthly uptrend may resume, targeting previous highs near $11.50 level.
Long-term: Maintain caution due to negative 7-day trend; break below $9.80 would signal deeper correction risks toward $9.20.
Buy setup: Accumulate near $10.00 if volume stabilizes; add on reclaim of $10.80.
Sell setup: Trim at $11.20 if upside fails; take profits above $11.50 supply zone.
Context: Strong 30-day momentum (+30.68%) supports bounce; watch daily close above $11.00.
Price Structure and Momentum
SKDDB trades at $10.52, up 6.64% daily but down 6.82% weekly, signaling a counter-trend rally within a broader monthly uptrend.
Immediate support holds at $9.80–$10.00, while resistance caps upside at $11.20, with a stronger barrier at $11.50.
Intraday recovery is supported by significant taker buy volume ($3,999.76), indicating urgent demand rather than passive accumulation despite short-term profit-taking pressure.
Trading Strategy and Outlook
Short-term: Watch for breakout above $11.00 with sustained volume to confirm bullish continuation toward $11.50 resistance.
Mid-term: If price holds above $10.00 support, the monthly uptrend may resume, targeting previous highs near $11.50 level.
Long-term: Maintain caution due to negative 7-day trend; break below $9.80 would signal deeper correction risks toward $9.20.