#SKL Mid-term analysis
I have never seen a chart as nice as this one! SKL is in a sideway movement from 2 month ago and this coin has a super great support trend line as you can see on the chart.
You can enter in this coin after breakout and re-test or near the support zone or both! Don't miss this one, I published this beautiful chart because I love u and I...
BINANCE:SKLBTC is looking very bullish after closing the daily candle above a short term downtrend.
1. EMA20 crossing MA50
2. Close above short term downtrend and perfect retest
3. Triple bottom formed and getting confirmed currently
4. Price should minimum hit 740 sats which is level of MA200
5. SKL is one of the best technologies to achieve scalability for ETH...
Over the last two months the price has entered and successfully bounced of area of support three times, creating some sort of triple bottom and validating its strength. It is now being supported by a local level (0.3144) and dynamic support(blue). The next expected move is to see the price break above 200MA, get rejected from key level (0.40), than consolidate on...
I clearly see multiple whale addresses that are using their holdings to suppress price to get people to sell.
I'm very confident that these whales are done accumulating (as a lot of retail holders have sold out of frustration from the long consolidation period).
So, I think what we can expect is an insane breakout past .50, past $1, all way to $1.8 - $2.5.
Knowing that we are in the alts seasons, we keep seeing some patterns repeating itself, patterns as 3D (3Drives). And that is exactly the same pattern we are seeing on the SKL Chart. So we expect the market to react to our Zone, which is in turn a Daily support area
N.B: This analysis is based on market structure and the sentiment of the market. This is not a...
I think longing SKL could be a strong trade. Don't think the support will break, as it overlaps with the 0.5 fib, and think its likely that it break the downtrend here. First target is around 23% from entry