SKR SKYROCKETS +160%! BULLISH, CRAZY—CAN IT STILL RISE?
ANALYSIS:
SKR/USDT on the 1-hour timeframe is in a very strong bullish trend. Price is around 0.030835 after recording a fantastic +160.21% increase within 24 hours. Previously, the price printed a peak at 0.033667, then experienced a slight rejection.
The technical structure is still bullish because price is far above MA7 at 0.02669, MA25 at 0.01882, and MA99 at 0.01206. That MA arrangement indicates a very dominant upward trend. The Supertrend at 0.02131 also continues to provide bullish confirmation.
MACD is highly positive, with DIF 0.00434 above DEA 0.00328, accompanied by a growing green histogram. Volume increased sharply during the rally, indicating the rise is supported by strong trading activity.
However, RSI(6) has already reached 89.44, entering the extreme overbought zone. This makes SKR very prone to profit taking or a sharp correction.
The main resistance lies at 0.03367–0.03500. If it breaks through with strong volume, there is still room for price expansion. The nearest support is at 0.0270–0.0260, then 0.0234–0.0213.
In conclusion, the SKR trend is still strongly bullish, but the price position is already very hot. Entering by chasing the current surge carries high risk; a pullback and retest of support would be healthier for the trend to continue.
$SKR
#Write2Earn #trading #BinanceSquare #BinanceSquareFamily #TechnicalAnalysis
ANALYSIS:
SKR/USDT on the 1-hour timeframe is in a very strong bullish trend. Price is around 0.030835 after recording a fantastic +160.21% increase within 24 hours. Previously, the price printed a peak at 0.033667, then experienced a slight rejection.
The technical structure is still bullish because price is far above MA7 at 0.02669, MA25 at 0.01882, and MA99 at 0.01206. That MA arrangement indicates a very dominant upward trend. The Supertrend at 0.02131 also continues to provide bullish confirmation.
MACD is highly positive, with DIF 0.00434 above DEA 0.00328, accompanied by a growing green histogram. Volume increased sharply during the rally, indicating the rise is supported by strong trading activity.
However, RSI(6) has already reached 89.44, entering the extreme overbought zone. This makes SKR very prone to profit taking or a sharp correction.
The main resistance lies at 0.03367–0.03500. If it breaks through with strong volume, there is still room for price expansion. The nearest support is at 0.0270–0.0260, then 0.0234–0.0213.
In conclusion, the SKR trend is still strongly bullish, but the price position is already very hot. Entering by chasing the current surge carries high risk; a pullback and retest of support would be healthier for the trend to continue.
$SKR
#Write2Earn #trading #BinanceSquare #BinanceSquareFamily #TechnicalAnalysis
