🚀 $SKL
SHORT SETUP 🚀
Entry: $0.005250 - $0.005380
TP1: $0.005100
TP2: $0.004950
TP3: $0.004750
SL: $0.005520
🔻 Why SKL is on watch:
SKL spiked to $0.006026, then ranged and built a second push to about $0.0058 that failed. Price has rolled over from that lower high and is now at $0.005209, down about 1.9% on the day on the 1H. 📉 Price is trading under the 7 MA ($0.005255) and the 25 MA ($0.005391), with the 7 MA below the 25 MA and both rolling over. The 99 MA ($0.005145) sits just underneath as the nearest support, so a loss of it opens more downside. The structure shows a lower high versus the $0.006026 peak, and the recent bounce was sold at the 25 MA. Each rally is being rejected. The latest candles are mostly red and small, and the big volume spikes have been on the pump legs rather than the bounces. Volume is fading, which suggests buyers are running out of steam. I’m watching for a short on a bounce into the 7 MA and 25 MA zone ($0.005255 to $0.005391), not chasing the current candle. A 1H close under $0.005100 (below the 99 MA) would confirm sellers are taking over, and a close above $0.005520 invalidates the setup.
Not financial advice. DYOR.
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SHORT SETUP 🚀
Entry: $0.005250 - $0.005380
TP1: $0.005100
TP2: $0.004950
TP3: $0.004750
SL: $0.005520
🔻 Why SKL is on watch:
SKL spiked to $0.006026, then ranged and built a second push to about $0.0058 that failed. Price has rolled over from that lower high and is now at $0.005209, down about 1.9% on the day on the 1H. 📉 Price is trading under the 7 MA ($0.005255) and the 25 MA ($0.005391), with the 7 MA below the 25 MA and both rolling over. The 99 MA ($0.005145) sits just underneath as the nearest support, so a loss of it opens more downside. The structure shows a lower high versus the $0.006026 peak, and the recent bounce was sold at the 25 MA. Each rally is being rejected. The latest candles are mostly red and small, and the big volume spikes have been on the pump legs rather than the bounces. Volume is fading, which suggests buyers are running out of steam. I’m watching for a short on a bounce into the 7 MA and 25 MA zone ($0.005255 to $0.005391), not chasing the current candle. A 1H close under $0.005100 (below the 99 MA) would confirm sellers are taking over, and a close above $0.005520 invalidates the setup.
Not financial advice. DYOR.
🔔 Follow CoinDispatch for more daily trade setups and market updates!