Skale Network (SKL) Gains a Significant Footing, May Retrace Higher Price Marks

The Skale Network price movement had previously fallen through multiple support levels when downward forces took control of the mark. But recently, buyers started a resistance near the $0.2375 price mark, which failed. However, this resistance seems to be holding, as price action has started retracing upward from three trading sessions ago.

SKL Statistics
Skale Network Value Now: $0.2574
Skale Network Market Cap: $115M
SKL Circulating Supply: 4,535,019,337
Skale Network Total Supply: 5,447,166,667
SKL CoinMarketCap Ranking: 174

Major Price Levels:
Top: $0.2574, $0.2800, and $0.3000
Base: $0.2500, $0.2400, and $0.2300

SKL Price Movement Is Gaining Upside Traction

Price activity in the Skale Network market has been gathering moderate profits for three sessions straight. However, the current session has introduced more gains than any other session before it, going by the size of the price candle. Also, price action has crossed a significant mark here, which is the 9-day Moving Average (MA) curve. Furthermore, the Relative Strength Index (RSI) indicator lines recently delivered a bullish crossover in the oversold region. The lines of this indicator are now journeying toward the 40-level mark of the indicator. Consequently, signs gathered here suggest that more upside retracements may be witnessed henceforth.

Skale Network Continues to Increase Its Bullish Move

In the SKL/USD 4-hour market, it appears that, indeed, a more bullish impetus is on the way. Here, the last price candle seems significantly larger and has appeared above the converged 9- and 21-day MA lines. Also, price action has crossed into the bull zone on the Fibonacci Retracement tool. And this signifies that buying momentum may further increase in this market, which will further propel prices higher. Additionally, the Average True Range indicator line is now tilted upwards at its terminal to indicate the significant gains that have been witnessed and that may further be seen in this mark. Therefore, prices may soon hit the $0.2750 mark.

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