SKL/USDT { SKALE NETWORK } - BULLISH SETUP

ANALYSIS 🔎
- SKL/USDT brokeout above the double bottom neckline resistance, hit a swing high and retraced.
- Price is retesting the key fibonacci retracement zone (0.618 - 0.702 - 0.786) and the double bottom neckline resistance.
- There's a relatively high concentration of buyers at this zone (high buying pressure).
- We could be on the verge of the uptrend continuation.

BUY ENTRY ⬆️
- Conservative entry: breakout above the horizontal resistance level (@0 3790).
- Aggressive entry: key fibonacci retracement zone (0.618 - 0.702 - 0.786).

TARGETS 🎯
- Horizontal resistance level (@0.4890).
- Fibonacci extension level 1.0 (@0.5583).

SETUP INVALIDATION ❌
- Breakdown below the previous swing low formed before the breakout above the horizontal resistance level (@0 3790).