đź’ŽParadisers, #SKL is gearing up to retest its ascending support and we're expecting a potential correction.
đź’ŽIf it drops below, we'll seek a retest to confirm bearish momentum before making our next move. Observations show #Skale charting lower highs and lower lows coupled with decreasing volume hinting at a loss of momentum. If #SKL maintains support at $0.071 yet continue its downward trajectory, we anticipate hitting the projected support zone at $0.0519 next.
đź’ŽConversely, if #SKLUSDT holds its support and swings back into the channel, it may suggest a bullish counter attempt. In this case, the price could ascend towards the significant resistance at $0.091.
đź’ŽSSKL will face strong selling pressure and rebound strongly from such levels. If this resilience persists, a robust recovery might be in play. Yet, a decisive candle close above this resistance would counter the bearish narrative and point towards a potential bullish turnaround.
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