$SKL *SKL: Bearish Technical Breakdown đŹ*
SKL plunged 19.85% to $0.00632, rejected at $0.00642 resistance amid broad altcoin sell-off and technical breakdown.
- Price below 25/99-EMA, MACD negative, RSI-6 at 64.1 shows overbought bounce in downtrend
- Smart money shorts dominate: 2.4x more short whale exposure, L/S ratio down 31% to 0.42
- Institutional divergence: Large-taker buy volume at $0 despite $54.6K inflow, signaling retail buying into distribution
*Key Levels:*
- Support: $0.00622, $0.00600
- Resistance: $0.00642, $0.00700-$0.00720
*Trading Strategy:*
- Short-term: Sell rallies into $0.00642-$0.00650 resistance; breakdown below $0.00622 targets $0.00600
- Mid-term: Watch L/S ratio reversal above 0.55; until then, short bias holds
- Long-term: Accumulate near $0.00580-$0.00600 if extreme fear triggers capitulation [1][4][5]
Follow-up questions:
- What's driving the broad altcoin sell-off?
- How does SKL's whale activity compare to other cryptocurrencies?
- Are there upcoming events or announcements that could affect SKL's price?
