$SKLAnother one sat in a bull flag with months of consolidation behind it , currently flirting with the 200 and 20 EMA cross , small pull back followed by strong upside predicted.
SKLUSDT.PS trade ideas
SKL IS LOADING UPWe are riding a massive descending channel, which is a bullish sign.
We are also riding a smaller descending channel, which again is a bullish sign.
MA50 and EMA50 are strong support factors.
If conquered, MA100 could be a major support. In that case, the possibility of a golden cross will bring hope. (I have not included MA30 because price action history shows it is not a formidable resistance)
We have a strong rising trend line which could act as a solid wall of support.
Also, in the 8H timeframe, we could be witnessing the completion of a "W". If completed, breakout will be the net result. (Caution: This is only a possibility)
In the weekly timeframe, we have had a decent corrective trend.
in the monthly timeframe, after the massive upswing we can witness, there has been a correction that happened last month. The correction extended to the 0.382, meaning a deep correction, and managed to close the body above the 0.5 FIB extension which is a good sign. The correction has been healthy and needed to grab liquidity to scale higher.
If you're hodler, your targets to sell could be 1.8 or 2.2. However, if you're seeking mid-term gains, your targets could be 1.03 and 1.2.
SKLUSDT (SKALE NETWORK) - BULLISH SETUP ANALYSIS 🔎
- SKLUSDT is on a mid-term uptrend supported by the ascending trendline support.
- The market hit a swing high and retraced.
- Price is retesting the flip horizontal support, the ascending trendline support and the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There's a relatively high concentration of buyers at this zone.
- The retracement is resisted by the descending trendline resistance.
- Breakout above this descending trendline resistance could be an uptrend continuation signal.
BUY ENTRY ⬆️
- Breakout above the descending trendline resistance.
- Retest of the descending trendline resistance after the breakout.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending trendline support.
SKLUSDTFuture & Spot both signal
Buy long
#SKL /USDT
Entry buy below : 0.678
Target :
0.688
0.705
0.720
0.735
0.750
Leverage : 10x
Stop loss : 0.625
shart term
If Any One Make Some Good Amount Of Profit Of my Signal You Can Share Your Some Bucks $$$ of Appreciations In My Trc20 :) 🥰 Here Is The Trc20 Addres Below
TQYoJTga8Tk12VVMQXYyYi4iAK9jjvrVdZ
#SKLUSDTPERP#SKLUSDTPERP
If break out the down trend and confirm , then it can go to 1.2$ !!
MA50 + komo cloud + trend lines
$SKL is gonna break out 📈We believe this is a pretty interesting setup.
Downward channel ✅
100 EMA support ✅
Resistance ✅
Bull and Bear traps ✅
Trading fakeouts ✅
Follow Crypto Fuente for more trades and trading setups.
SKLUSDTHello to you all. Mars Signals team wishes you high profits at all times.
If we break the resistance line, we will start trading for the above goals
Warning: This is just a suggestion to you and we do not guarantee profits.
Wish you luck!
