SKL/USDT In the critical support area, possible to bounce here!

💎 Paradisers, #SKL is indeed a coin worth monitoring closely.

💎 It rests on a crucial support area and needs to bounce from here to sustain its upward movement. If the bounce proves successful, SKL may retest the resistance around $0.104.

💎 This level holds significant importance as a confirmation point for the bullish trend. Breaking above this resistance is essential for SKL to continue its upward trajectory.

💎 However, if SKL fails to break above the resistance and faces rejection, it could retreat back to the support area. Multiple touches on the support area may weaken its strength over time, posing a potential concern for the bullish scenario.

💎 If SKL fails to bounce from the support area and breaks below it, it may descend towards the demand area around $0.05. This level is critical, and a bounce from here, coupled with a reclaiming of the support area, would be necessary for SKL to maintain its upward momentum.

💎 The bullish invalidation would occur if SKL fails to bounce from the demand area and confirms a daily candle close below it. Such a development would signal a shift towards bearish sentiment and could lead to further price declines.

  MyCryptoParadise
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