$SKATE
Current price
SKATE is trading around 0.0080 right now after a brutal multi day slide and heavy 24 hour drawdown
Liquidation signal
Two separate long liquidations
5792 USD at 0.00755
12113 USD at 0.00769
That is a cluster of trapped longs in the same tight band
Key state
SKATE is deep in a post listing bleed phase
Down more than 60 percent over 7 days with intraday dumps near 20 to 30 percent
Longs trying to catch the falling knife around 0.0076 just got wiped exactly where you would expect
Support
0.0072 knife edge support
0.0065 extreme flush zone
Resistance
0.0085 first cap
0.0098 broader reclaim area
Market insight
This is what a classic new listing hangover looks like
Early buyers take profit
Late buyers get liquidated
The double long liquidation at almost the same price tells you that dip buyers are still stepping in too early and with too much leverage
Sentiment
Bearish
Only suitable for high skill bounce plays right now
Next move idea
If 0.0072 holds after a final wash
SKATE can bounce sharply into 0.0085 and even 0.0098 as shorts and trapped longs fight
If 0.0072 gives way cleanly expect an air pocket into 0.0065 before any sustainable base forms
Targets for knife catchers with discipline
TP1 0.0085
TP2 0.0098
TP3 0.0115 on a full dead cat squeeze
Pro tip
Size small and think in terms of scalps not swings
On names like SKATE your biggest edge is strict risk control
If you do not have a clear invalidation level before entry you should not be trading it
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