$SKR is flashing clear signs of exhaustion right now. Buyers just can’t seem to hold momentum—every push upward is quickly met with selling that shuts it down. It’s not messy chop; it’s deliberate pressure. The rejections are getting sharper, and the drops that follow are developing with cleaner, more confident structure. This shift tells me supply is firmly in control, and the sentiment is turning heavy.
When you see rallies consistently faded like this, it often means smarter money is distributing or shorting into strength. The bids are getting overwhelmed, and sellers aren’t waiting around. Each downside leg is unfolding with more conviction, suggesting lower prices are ahead. Technically, that hesitation near the highs is a classic failure pattern, and the tape confirms it’s being actively offered.$SKR
Here’s the short setup I’m watching:
· Entry Zone: 0.0215 – 0.0225
· Stop Loss: 0.0237
· Take Profit Targets:
TP1: 0.0200
TP2: 0.0186
TP3: 0.0172
The stop is placed above the recent swing to guard against a sudden squeeze. The take-profit tiers align with visible support levels where we might see some pause, but the momentum favors a continued move down. Always scale in responsibly and let the structure guide your exits.
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