$SKY /USDT BEARISH ANALYSIS
Current Price: 0.05835 USDT
$SKY /USDT is showing bearish momentum after failing to break above the 0.05984 resistance. Price is trading near key moving averages, indicating potential continuation toward lower support levels if sellers maintain control.
KEY LEVELS
Resistance: 0.05879 | 0.05938 | 0.05984
Support: 0.05761 | 0.05715 | 0.05700
Indicators Insight:
MA(7): 0.05853 – near-term resistance
MA(25): 0.05851 – confirming trend alignment
MA(99): 0.05842 – support zone
MACD: Bearish momentum forming, favoring sellers
TRADE SETUP
Position: Short
Entry Zone: 0.05840 – 0.05860
Take Profit (TP):
TP1: 0.05761
TP2: 0.05715
TP3: 0.05700
Stop Loss (SL): 0.05984
RISK MANAGEMENT
Risk 2%–3% of trading capital per trade. Move stop loss to breakeven after TP1 to protect profits. Avoid entries if price closes above 0.05984.
Summary: $SKY/USDT remains bearish below 0.05984, with potential continuation toward 0.05761–0.05700 if selling pressure sustains.
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