SKL/USDT Keep an eye on the Bullish OB area potential Bounce!!

💎 SKL has undeniably garnered significant attention in the market. Presently, SKL is exhibiting a downward trajectory in its recent price movement.

💎 Upon closer examination, a bearish pattern known as the head and shoulders pattern is discernible on the lower time frames. The emergence of this pattern suggests a potential bearish trend for SKL, with the price probability heading towards the Bullish OB area, where a rebound may occur.

💎 Should a rebound materialize and be confirmed, SKL may have an opportunity to make another attempt at breaking through the strong resistance area, which is our target zone. However, if SKL fails to exhibit a rebound and instead consolidates within the Bullish OB, especially if accompanied by weak volume, this could be interpreted as a negative sign.

💎 In such a scenario, there is potential for the price to lose its position within this area, leading to a continuation of the downward movement towards the demand area or even lower levels.