SKL/USDT Showing a promising bounce from the demand level.

💎 SKL has been garnering considerable interest in the market. It's currently navigating through a critical retesting phase, showing a promising bounce from the demand level, which was previously a resistance area. If this retesting proves valid with a sustained bounce from the demand area, SKL may well resume its upward trajectory, probability aiming for a strong resistance area.

💎 The immediate hurdle for SKL lies at the resistance near the $0.047 mark. A successful breach of this resistance could pave the way for a smoother journey towards the strong resistance area. However, if SKL falters and fails to break through, it might find itself retreating back to the demand area to gather new momentum.

💎 A concerning scenario would emerge if SKL is unable to hold its level at the demand area and instead breaks down below it. Such a development could signal a bearish turn, leading SKL to a downward trend towards the Bullish OB area.

💎 In the Bullish OB zone, it's critical for SKL to demonstrate a robust recovery. If SKL fails to show a positive response in this area and breaks down further, it could indicate a shift back to a bearish trend. This could potentially lead to further downward movement towards the key support area.

Trade closed: target reached:

#SKL’s 121.95% rise? Called it!