SKL (SKALE) slides 5.2% on concentrated short-term selling
I see SKL (SKALE) dumped about 5.21%, falling from $0.0509 to $0.04825 in the last few minutes.
The 3-minute volume is 8.82M—around 3.9% of the 24h volume—indicating concentrated short-term selling and elevated turnover that can drive further volatility or downside.
I would reduce exposure and avoid opening new long positions until price stabilizes on lower short-term volume or shows a clear, volume-backed reversal.
Analysis
Sharp intraday decline with a high 3-minute/24h volume ratio suggests accelerated selling and possible liquidity-driven moves; short-term momentum favors the downside absent confirmed support.
Recommendation
Reduce exposure or sell into the move; wait for volume to normalize and price to reclaim support before considering new long positions.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.