Skale Network Price Action Maintains Trading at a Higher Support

Azeez Mustapha


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Price activity in the Skale Network market experienced a sharp dip after quickly rising above the $0.1200 mark. However, about six sessions ago, the market began to dip sharply over subsequent trading sessions. The coin recently regained some upside traction and seems set to keep rising.

SKL Statistics:
Current Skale Network Value: $0.09233
Skale Network Market Cap: $497,935,500
SKL Circulating Supply: 5,339,102,671
SKL Total Supply: 5,447,166,667
Skale Network CoinMarketCap Rank: 131

Key Price Levels:
Resistance: $0.09300, $0.09500, and $0.09700
Support: $0.09200, $0.09000, and $0.08200

Skale Network Price Action Maintains Trading at a Higher Support

Price Forces in the Skale Network Daily Market in a Tussle

While the SKL coin continues to trade above the $0.09012 mark, it is evident that price forces are actively engaging each other in the ongoing session. The last two sessions have seen the market resurface above the $0.09012 mark after a dip below it occurred.

Despite the change in price direction, price action remains below the Guppy Multiple Moving Average (GMMA) curve. However, the Stochastic Relative Strength Index (SRSI) lines are rising upwards out of the oversold region, aligning with the fact that the market is gradually gaining momentum and moving in an upward direction. Price action crossing more GMMA indicator lines will strengthen the upside move.

Skale Network Price Action Maintains Trading at a Higher SupportSKL Bullish Hopes Are Brightening Up

The ongoing session in the Skale Network 4-hour market stays under the control of buyers. This could be seen as the corresponding price candle remains solid green and above the $0.09012 support level. But similar to what was seen in the daily market time frame, price activity remains below the GMMA lines.

Nevertheless, the SRSI indicator lines are now converging to indicate a bullish crossover. This will see the market rise back upwards above some of the GMMA lines. Consequently, this will reward traders who have used bullish crypto signals in the previous session. At this point, traders can still target price levels around the $0.09700 mark.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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