SKR has been in a perpetual downtrend since the very first day of its listing.
A local stop occurred at the 0.021556 level. The price hovered above it for 2 days, and today, on the third day, the level has been broken. There is no impulsive move following the breakdown yet, indicating a lack of panic. However, a new, very local ("raw") level has formed immediately below at 0.020333.
Important: It is mandatory to wait for the 4H candle close before making any decisions. The setup looks "raw" until confirmed by the close.
Key Observations:
1. Record Consolidation. Usually, consolidations on this asset are short-lived. The current one has lasted for four days, which is a record for this coin.
2. Buyer Weakness. While we don't see a downward impulse yet, we also see zero strength from buyers to reclaim the level, despite an attempt.
3. Bearish Signals. A solid pre-breakout base is forming: a gradual, calm approach to the level combined with low volatility. All point to a Short.
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