【$SKL Signal】Short squeeze pullback, second upward push

$SKL 1H level rally followed by a pullback, the price has fallen back below the upper Bollinger Band, RSI has dropped from 73 to 67, momentum has eased. The 4H MACD histogram is still expanding, but the price has moved away from the upper Bollinger Band, indicating a short-term consolidation. The order book shows heavy buy orders below 0.0065, with clear capital support intentions.
🎯Direction: Long
⚡Entry: Buy on pullback near 0.00607, aggressive traders can try a small position at the current price of 0.00666.
🛑Stop Loss: Below 0.00590
🚀Target 1: 0.00675
🚀Target 2: 0.00709
🛡️Trade Management:
- Execution strategy: After the price reaches 0.00675, reduce position by 50% and move the stop loss up to the entry price. Hold the remaining position for the second target. If the price falls back below 0.00607, exit all positions.
Funding rate is approaching -1%, indicating very high short position costs and potential for a short squeeze. Open interest remains stable with no significant capital outflows, suggesting main players have not exited. The 1-hour EMA20 at 0.0061 provides dynamic support, overlapping with a dense buy zone below, making this an ideal second entry point. Risk-reward ratio is close to 4:1, making this trade’s risk-return profile quite clear.
Check real-time market 👇 $SKL
---
Follow me: Get more real-time analysis and insights on the crypto market! $BTC $ETH $SOL