$SKL: Major Support Breakdown Confirmed on $SKL Higher Timeframes
SHORT SETUP SKL
Entry: $0.00525 - $0.0053
Stop Loss: $0.005486
Take Profit: $0.004853 (2R)
Key Levels: Support $0.0048 | Resistance $0.0053
Technical Analysis for $SKL: Price sits below the 9EMA while still above longer EMAs, indicating shortterm weakness. Stochastic at 33 and a -12% orderbook imbalance add bearish pressure. Target is 0.00485, stop at 0.00545; watch 0.0048 support as invalidation if it holds. SHORT bias targets continuation toward support, with resistance as the invalidation level.
Market Context: BTC down 1.07% on 24h, market broadly negative.
SHORT $SKL
SHORT SETUP SKL
Entry: $0.00525 - $0.0053
Stop Loss: $0.005486
Take Profit: $0.004853 (2R)
Key Levels: Support $0.0048 | Resistance $0.0053
Technical Analysis for $SKL: Price sits below the 9EMA while still above longer EMAs, indicating shortterm weakness. Stochastic at 33 and a -12% orderbook imbalance add bearish pressure. Target is 0.00485, stop at 0.00545; watch 0.0048 support as invalidation if it holds. SHORT bias targets continuation toward support, with resistance as the invalidation level.
Market Context: BTC down 1.07% on 24h, market broadly negative.
SHORT $SKL