Skale Network (SKL) Stands Out as Its Price Increases by 3.40%
Login

Skale Network (SKL) Stands Out as Its Price Increases by 3.40%

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


Price action in the Skale Network market has increased by 3.40% on the day. This is happening at a time when most coins are bearish due to the current sentiment surrounding Bitcoin. It could be seen that only the SKL has appeared on the list of crypto daily movers at this point. Let’s see how this market may proceed shortly.

Skale Network Statistics:
Current SKL Value: $0.08649
SKL Market Cap: $432,081,608
Skale Network Circulating Supply: 5,179,144,337
Skale Network Total Supply: 5,447,166,667
SKL CoinMarketCap Rank: 160

Key Price Levels:
Resistance: $0.08649, $0.09000, and $0.09500
Support: $0.08149, $0.07649, and $0.06649

Skale Network (SKL) Stands Out as Its Price Increases by 3.40%

Skale Network Manages to Stand Above the 0.08463 Mark

The SKL token has experienced an intense downward correction over the past two sessions. But as soon as the downward correction hit the 38.20 Fibonacci Retracement Level, a rebound occurred. Meanwhile, the ongoing session seems to be suggesting that price action may test the support at the 38.20 Fibonacci Level once more.

However, price action remains below the Guppy Multiple Moving Average (GMMA) lines, but the Stochastic Relative Strength Index (SRSI) indicator has displayed a crossover in the oversold region. With price action below the GMMA lines, consequently, this weakens any bullish sentiment that may arise from this market at this point.

Skale Network (SKL) Stands Out as Its Price Increases by 3.40%

SKL Bearish Stand Strengthens

The bearish stance in the Skale network 4-hour market has continued to grow stronger. Here, the last price candle on this chart can be seen as a long red price candle. This price candle has placed the price of the token below most of the GMMA lines.

Likewise, the SRSI indicator lines have converged for a crossover in the overbought region, suggesting that the market may witness even more downward corrections in the ongoing session. Therefore, this makes bearish crypto signals the go-to in this market, as prices may approach the $0.0800 mark soon.

Trade crypto coins on AvaTrade

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News