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SKLUSD

#SKL/USDT#SKL The price is moving within a bearish channel pattern on the 4-hour frame, which is a strong retracement pattern We have a bounce from a major support area in green at 0.03500 We have a tendency to stabilize above the Moving Average 100 We have a downtrend on the RSI indicator that supports the rise and gives greater momentum, upon which the price is based higher at the discount Entry price is 0.04100 The first target is 0.04600 The second target is 0.05450 The third goal is 0.06670
Long
by CryptoAnalystSignal
SKL - Daily more fallSKLUSD has recently experienced a pullback below its crucial support zone, as highlighted in the chart. This movement indicates a potential shift in market sentiment. Typically, a pullback under a support zone, especially when sustained, can signify weakness and increased selling pressure, hinting at the possibility of further declines. This breach suggests that buyers are losing control, and if SKLUSD does not reclaim the support zone swiftly, it may continue to trend lower, targeting new support levels.
Short
by Sober_Trading
SKL is bearish (1D)SKL's bullish Diametric seems to be over. Now we are at the end of the G wave of this diametric, which is the last wave of this diametric. We expect SKL bearish waves to start soon. We have two important targets on the chart. Closing a daily candle above the invalidation level will violate the analysis. For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
Short
by behdark
1
SKLUSD could be ready to SKALE? (3 Trade setups)Summary: Three potential trade opportunities as long as Bitcoin price action doesn't ruin the show. Story: SKLUSD has been following an upward channel since October 2023 and the recent pullback could be a good buying opportunity to enter or add to your stack. SKLUSD is an active blockchain gaming company that provides fast, gas-free transactions that is constantly engaging in new partnerships. Happy to hear what you all think of this idea. - Possible 11% gain - Price action could pop up the $0.1215 resistance - RSI looks like it could bounce off the yellow dotted horizontal ray or yellow dotted line that identifies RSI lows - Stoch RSI looks like we could see a move to the upside - Possible 30% gain - Price action could pop up to the top of the channel to around $0.14 - RSI looks like it could bounce off the yellow dotted horizontal ray or yellow dotted line that identifies RSI lows - Stoch RSI looks like we could see a bounce off the support red line to the resistance - Ambitious 56% gain - Price action could pop up to the next highest resistance of $0.17 - RSI and Stoch RSI could break the upper resistance line and keep going - If Bitcoin performs well, this definitely happen down the road. - No crypto analysis is complete without correlating it with BTC price action. If BTC can maintain staying above the resistance line it broke through in the triangle formation, we could potentially see a move up to test the ATH - Stoch RSI long look is bullish and as long as we stay above the Stoch RSI support line, good things can happen this year. Notice how the end of the ascending triangle is near the end of the year. Could this be when BTC rips even higher?
COINBASE:SKLUSDLong
by The_Moon_Lander
6
SKL-USD WEEKLY ADAM & EVE CONCEPTIn examining high timeframe setups for SKL on Coinbase, I was initially drawn to the notable trading volume, a key indicator of market interest and potential trend shifts. Upon further analysis, an Adam and Eve pattern emerged on the chart. This classic pattern in technical analysis signals a potential reversal from a downward to an upward trend. It features two parts: the Adam, a sharp and quick V-shaped bottom, and the Eve, a more gradual and rounded U-shaped bottom. The pattern's completion, indicated by a breakout above the resistance level, often suggests a bullish uptrend. For SKL/USD, applying this pattern involves measuring its depth and using this to project a price target from the breakout point. Importantly, on logarithmic charts, it's more effective to use percentage changes rather than absolute dollar values. This approach ensures consistency across different price levels and better aligns with the exponential nature of market movements. In the case of SKL/USD, if the Adam and Eve pattern is confirmed, we'd calculate the pattern's depth in percentage terms. This method offers a nuanced perspective, particularly important in logarithmic chart analysis. Our goal would be to apply this percentage change at the breakout level to determine a future price target. While I'm not claiming expert status, the current scenario suggests two possibilities for SKL/USD: (1) we teleport to the June 2021 Monthly Close over the next few weeks, or (2) we consolidate between $0.04 and $0.12 before (hopefully) pushing to the $0.23 to $0.24 level. I've personally been averaging into a position the last few weeks/months, but I'd like to get some thoughts from the community. What do you see? What am I missing? Always use stop losses! Not financial advice. Cheers :)
COINBASE:SKLUSD
by seaphoss
3
SKL LOOKS BEARISH (4H)From the wave counter, it seems that SKL is completing a bearish triangle. We have an untested resistance range, which is a good place to open sell/short positions. We specified the targets on the chart. Closing two 4-hour candles above the invalidation level will violate the analysis For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
Short
by behdark
2
Don't miss this SKL opportunity!SKL is pulling back to the resistance area after the downward CH and the clearing of 2 support areas and the formation of the liquidity pool at the bottom. This area is full of sell orders and sellers in this area will push the price down. Look for triggers and confirmations in this area and enter sell/short positions at your own discretion. For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
Short
by behdark
2
SKLUSDT on weekly support and may head for next resistanceThe price was rejected from monthly resistance MR1 and came back to weekly support WS1. It broke that support for a while but it seems that it is on way to claim it back. This definitely opens the way for the price to again aim for the monthly resistance MR1. If anything goes wrong with this plan and price loses the WS1 zone again then next support we should expect is daily support DS1 and further down the weekly support WS2. For short term I have another idea which I will share in a separate post.
by angela_altair
1