$SKDDB DUSDT is up nearly 30% today. Is the move getting too stretched?
I’ve been watching $SKDDB , and today's move is hard to ignore.
At the time of my screenshot, the price was around 12.032 USDT, up 29.27% in 24 hours. It had reached a high of 12.234, with 24-hour trading volume of around 18.92 million USDT.
On the 15-minute chart, the price is clearly above all three moving averages:
- MA(7): 11.354
- MA(25): 10.847
- MA(99): 10.206
The MACD is also positive, with the MACD line at 0.305 and the signal line at 0.193. This shows that buying pressure has been strong.
But I wouldn't rush into a long after such a quick rise. Price is getting close to its recent high, and a pullback wouldn't be surprising.
My trade plan:
- Long: Wait for a pullback and see if buyers defend the 11.73 area.
- Short: Only consider it if price fails near 12.23 and the 15-minute chart starts showing weakness.
- Risk: Keep leverage low and use a stop-loss. Don't enter just because the coin is moving fast.
For now, I'm watching how price reacts around 12.23.
Would you consider a LONG or SHORT here?
#SKDD #MarketAnalysis #CryptoTrading #MarketAnalysis
I’ve been watching $SKDDB , and today's move is hard to ignore.
At the time of my screenshot, the price was around 12.032 USDT, up 29.27% in 24 hours. It had reached a high of 12.234, with 24-hour trading volume of around 18.92 million USDT.
On the 15-minute chart, the price is clearly above all three moving averages:
- MA(7): 11.354
- MA(25): 10.847
- MA(99): 10.206
The MACD is also positive, with the MACD line at 0.305 and the signal line at 0.193. This shows that buying pressure has been strong.
But I wouldn't rush into a long after such a quick rise. Price is getting close to its recent high, and a pullback wouldn't be surprising.
My trade plan:
- Long: Wait for a pullback and see if buyers defend the 11.73 area.
- Short: Only consider it if price fails near 12.23 and the 15-minute chart starts showing weakness.
- Risk: Keep leverage low and use a stop-loss. Don't enter just because the coin is moving fast.
For now, I'm watching how price reacts around 12.23.
Would you consider a LONG or SHORT here?
#SKDD #MarketAnalysis #CryptoTrading #MarketAnalysis
