$SKR
is showing strong signs of a recovery play after breaking out of a descending channel. A massive 40.6% surge in volume, representing 60% of its market cap, suggests intense institutional or organic buying interest. While the 4H timeframe shows some bearish moving average trends, the MACD has recently issued a bullish buy signal, and a deeply negative funding rate sets the stage for a potential short squeeze that could rapidly drive prices higher. If the price can maintain consolidation above the $0.015–$0.016 support zone, the technical structure remains intact for a retest of previous highs.
Potential Trade Setup
Entry Zone: $0.0165 – $0.0176 (Current market price or on a slight retest of immediate support).
Stop Loss (SL): Below $0.0143 (Just under recent swing lows to protect against a total breakdown toward $0.012).
Targets (TP):
Target 1: $0.0200 (Psychological resistance and recent local top).
Target 2: $0.0223 (Secondary resistance level indicated on current chart).
Target 3: $0.0260 – $0.0280
