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Djawad_Afsharirad

SO THE JOURNEY BEGINS! SKL IS BACK!

Long
SKL / TetherUS (BINANCE:SKLUSDT)  
Djawad_Afsharirad Updated   
BINANCE:SKLUSDT   SKL / TetherUS
Trend Analysis Chart Patterns Technical Indicators skale SKLUSDT SKLUSD SKL ETH Ethereum (Cryptocurrency) DEFI crypto ALTS
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trendanalysis chartpattern indicator skale sklusdt sklusd skl eth ethereum defi crypto alts
MAs are perfectly lined up to support a massive upswing.
SKL has explored lows like no other. Enough is enough!
A double bottom formation spells positivity.
MACD is back up to create the right setup.
RSI is poised to move into upswing territory.
Buckle up folks! Buckle up!
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The breakout out of this descending channel in the 1D timeframe would follow a massive rally for sure. The target in the mid-term is 1.2.
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We have a confluence of support and few resistance zones left to be taken out! Let's see how the daily candle and the current 12H candle close!
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snapshot

Still waiting for the breakout. Nice squeeze.
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snapshot

Right now, we're sliding down in a descending channel, and a breakout upwards could save the day, literally. In case, it descends further the next support area is a green line. Also, the resistance is a red line; however, it is not the only resistance zone we face at the moment. Don't forget the big picture: we're in a falling wedge.
Plus, MACD in the 1H timeframe is trying to have a positive cross and the STOCH RSI is trying to turn its nose up, but for now it's a feeble attempt.
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IMHO, SKL is ready to climb. It has taken on EMA50 now. If conquered, an upswing will be in the cards.
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It is this time or never! Buckle up!
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