$SKY USDT Technical Outlook | Binance Futures
Market Structure Update:
$SKY is currently experiencing a healthy technical correction after failing to hold the $0.064 Fibonacci support. The breakdown below the 30-day SMA signals weakening bullish momentum, while the 4H timeframe confirms a bearish structure with the 50-MA trending downward.
This pullback is technically constructive, allowing the market to reset leverage, flush weak Long positions, and seek fresh demand near lower support zones.
📊 Key Support Zone:
• $0.0570 – $0.0545
A critical area where price may stabilize before any potential rebound.
🔴 Futures – Short Trade Scenarios
Setup 1: Short at Resistance (Active Zone)
• Entry: $0.0600 – $0.0620
• Take Profit: $0.0570 – $0.0545
• Stop Loss: $0.0630
Setup 2: Pullback Short (Higher Resistance)
• Entry: $0.0635 – $0.0645
• Take Profit: $0.0510
• Stop Loss: $0.0655
⚠️ Trader Insight:
As long as SKY remains below key moving averages, short-side pressure dominates. Patience and risk control remain essential in current volatile conditions.
📌 Always manage leverage wisely and follow strict risk management.
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