$SKL $SKL

$SKL /USDT Technical Analysis

Current Price: $0.03562 (+13.30%)

Recent Price Range:

24h High: $0.03611

24h Low: $0.03139

Key Moving Averages:

MA(7): $0.03357 (short-term support)

MA(25): $0.03243 (medium-term support)

MA(99): $0.03582 (resistance level)

Key Levels:

Immediate Resistance: $0.03582 (MA(99), key resistance level)

Secondary Resistance: $0.03611 (24-hour high, closely aligning with the resistance area)

Immediate Support: $0.03357 (MA(7), short-term support)

Secondary Support: $0.03243 (MA(25), medium-term support)

Trade Setup for Short Position:

Short Entry Zone: Around $0.03570 to $0.03600, as price nears the key resistance levels (MA(99) and 24-hour high).

Stop Loss: $0.03650, just above the key resistance zone to avoid significant losses.

Take Profit Targets:

Target 1: $0.03357 (MA(7), short-term support level)

Target 2: $0.03243 (MA(25), medium-term support level

Summary:

For a short position:

Entry Zone: Around $0.03570 to $0.03600, as price approaches key resistance levels (MA(99) and the recent 24h high).

Stop Loss: Place above $0.03650.

Take Profit Targets: First target around $0.03357, followed by $0.03243 as price moves toward medium-term support.

This short setup leverages the resistance at $0.03582 and $0.03611, with clearly defined targets at the support levels for a controlled risk-to-reward ratio.

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