SKI MASK CAT PRICE ANALYSIS & PREDICTION (May 12) – Skicat Faces Critical Resistance Amid Latest Rally, Will it Break?

After last month’s recovery, which later ended with a rejection, Skicat entered this month on a pullback mode, but it found support nearby and resumed buying amid this week’s parabolic price movement. Alt Season is here again with meme coins gaining the spotlight in the past weeks, although Base projects like Toshi, Ponke and Ski stole the show during yesterday’s rally following an over 50% increase in a single day. Skicat was not left behind in the increase as it regained momentum this week after staying well above the $0.00065 level, which now stands as support on the daily chart. Facing multiple rejections under $0.00195, the buying pressure has stopped and is now looking weak on the day. This weakness has caused a minor reduction and is now changing hands at around $0.00113 at the time of writing. A further daily rejection could bring more setbacks in the market with a potential reset to the bottom. Considering the recent bullish speculations and sentiments surrounding the market, we should anticipate a break up anytime soon. Additionally, if we take a look at the bullish pattern displayed by most Base projects in the last couple of days, Skicat will likely follow a similar pattern soon. SKICAT’s Key Levels To Watch Source: Tradingview Although Skicat is still poised for a major bullish rally, but following the latest rejection, it is now facing down. While there’s support at $0.0065, a drop below it could slip the price to the $0.003 level. The next support level to watch for drops is $0.00016. A resurge above the critical $0.00195 resistance level could trigger a big rally to the $0.00405 and $0.0091 resistance, where a major trend shift is likely to take place. Key Resistance Levels: $0.00195, $0.00405, $0.0091 Key Support Levels: $0.0065, $0.003, $0.0016 Spot Price: $0.0011 Trend: Bullish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !

Source: NullTx