Sky / Tether SPOT
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Sky Protocol: Retrace Complete & Bullish Resumption

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On this chart a retrace was expected and now it seems to be over.

SKYUSDT paused its uptrend in late April to clawback some of its growth. The dropping stopped right below 0.618 and above 0.786 Fib. retracement levels. A classic reversal zone. Coincidentally, the 0.618 Fib. extension based on the whole chart is also close by, 0.06617. Above this level, SKYUSDT can resume growing.

This a nice chart setup. Quite basic and standard.

The recent drop was preceded by months of rising prices. The next advance can also produce sustained growth. Day after day, week after week of higher prices until resistance gets challenged. The main levels can be seen mapped on the chart.

This is a strong chart setup with high probability for the appearance of a bullish continuation. A nice 100% based on a sustained uptrend.

Thank you for reading.

Namaste.

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