Skicat next direction still looks indecisive on the daily chart despite the latest bullish spike, which led to a false break on Tuesday. It currently trades calmly daily after another failed attempt to advance bullishly.
Last month was a bit interesting for Skicat following a bullish crossover from the preceding month. But unfortunately, the crypto later lost buzz after failing to push above the $0.002 level in mid-month. Things later got uglier, and the market went through a short corrective phase.
Ending that month on a weak note, it opened short this week, being the first week of the month, but the bulls intercepted the dip above $0.004.
The interception triggered a surge, and the price broke through resistance levels, but failed to hold well above them due to a rejection, which came as a result of a sudden outflow in the daily volume. This led to a spike (false breakout) and the price rolled over, closing Tuesday under $0.001.
Repeating the same pattern yesterday, it managed to close above the price level and now trades calmly on the day. A daily close above the previous daily high should signal a new bullish move. The reverse would be the case if the bears continue to mount pressure on the daily chart.
SKICAT Key Levels To Watch
Skicat currently finds it difficult to resume bullish. If the bears mount pressure again, we may see a rollback to the holding $0.004 level with a potential breakdown to $0.003 and $0.0016.
While the last two days have seen the market through a major volatile buying period, a steady surge in volatility should bring us back to the $0.00195 and $0.00405 resistance levels before considering $0.0091 in the future.
Key Resistance Levels: $0.00195, $0.00405, $0.0091
Key Support Levels: $0.004, $0.003, $0.0016
- Spot Price: $0.001
- Trend: Bearish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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