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Skale

SKL short-term break downwardI few days ago I published how a potential breakout might be occurring soon with regard to SKL on the daily chart, but I just wanted to update that there is now a potential short-term break downward instead after revisiting the 4-hour chart. It looks like after the dip from what looks to be a fake out from the other day, a bearish ascending broadening wedge formed instead (red dotted lines) that now looks to be starting to break downward. There looks to be a bit of resistance at the base of the current descending wedge (bottom red dotted line), but there is potential for a bit more of a dip against BTC in the short term, particularly if further BTC drops persist. And of course, this is not meant as financial advice and is just my opinion, but please like or comment if you agree or see anything differently.
by crypto_trends
Is SKLBTC beginning a breakout?SKLBTC looks to be trending fairly positively over the past few days. On March 9th, 2021, both SKL and MATIC prices increased greatly as they were added to Coinbase. Now MATIC started a breakout a few days ago, is SKL next? A few weeks ago, it initially looked like this pattern would form a descending triangle and turn bearish , but instead with the latest bitcoin dip, a descending wedge has formed instead (red lines) and looks like a breakout may occur soon. Additionally, it looks like a bullish Gartley pattern also formed around the same time as the dip, further indicating a potential reversal (as indicated by the blue lines). These bullish scenarios look further confirmed by bullish reversal divergence on MACD as it begins to trend to the positive side (red dotted lines) . However, no pattern is guaranteed, and there is still a bit of confirmation needed, particularly with regard to volume , but it definitely looks to be a trend to keep an eye on. And as always, this is not meant as any type of financial advice and is solely my opinion. But as always, please like or comment if you agree or see anything that stands out differently.
Long
by crypto_trends
4
SKL ascending triangle potentialSKL looks to be continuing an ascending triangle pattern as I mentioned before. If the pattern continues, it looks like the next few days should be something to keep an eye out for a breakout potential around .85 with some resistance around the 38.2% Fibonacci retracement level. If that resistance does break (dashed red line), it looks like there is good potential toward the all-time high for SKL and potentially beyond over the next weeks/months. There is still some potential for a few dips here and there, but support so far has been strong (red bottom line). Looks like a fairly solid pattern to keep an eye on at least.
BINANCE:SKLUSDLong
by crypto_trends
SKL, continuation or retracement?SKALE had a really good day today but looks to have retraced back from the .236 Fibonacci retrace level from the previous dip back to the .382 Fibonacci level and potentially could be forming the upper part of a forming wedge (dashed red line). This leaves a couple of options still on the table from the looks of it. Option one is a continuation (which could easily be supported soon by MACD on the daily chart soon). However, there is also the possiblity that an ascending triangle could be starting (solid red lines) after which a small dip could occur over the next few days before heading up again (particularly if BTC dips), that is, assuming it doesn't continue downward beyond the bottom support (solid red line). There at least look to be a couple of options upward for SKL at least, so it should be interesting to see how it plays out over the next few days.
BINANCE:SKLUSDLong
by crypto_trends
SKL (SKALE Network) Token Analysis 24/03/2021Fundamentals: SKALE is described as an elastic network that’s designed to bring scalability to Ethereum. As well as boosting transaction capacity, the decentralized project aims to reduce latency and ensure that payments can be made as cheaply as possible. The project’s website says it wants to enable people to build and run DApps in a “decentralized modular cloud built for real-world needs and configured for your requirements.” This emphasis on decentralization isn’t at the expense of security. According to SKALE, those who build on this platform can run Solidity smart contracts “thousands of times faster at a fraction of the mainnet cost” — with games and content streaming services among the projects that already take advantage of its infrastructure. SKALE Network is geared towards improving both security and decentralization of Ethereum-based apps. Token holders on the SKALE Network are incentivized and earn rewards by helping to improve the scalability and security of the platform by serving as validators. The SKALE Network was the first project to launch a token on ConsenSys Codefi’s Activate platform — which is “designed to launch decentralized networks and allow customers to purchase, manage and use their tokens — all in one application.” Activate was designed to create new standards for the distribution of utility tokens, and ensure that networks are fully usable as soon as tokens are sold. It’s hoped that this approach will help clean up the appearance of the initial coin offering sector, which has been susceptible to scams in recent years. By launching a token that meets regulatory standards, SKALE is intending its token to be widely adopted and avoid any fraudulent activity. Ethereum is typically slow to verify and authorize transactions. Using SKALE Network greatly improves the speed at which Ethereum verifies transactions as SKALE can operate much faster and run up to a maximum of 2,000 transactions per second per chain, according to the team. SKALE Network was founded by Jack O’Holleran and Stan Kladko, both of whom have vast experience across the software industry. O’Holleran — the co-founder and chief executive of SKALE — is a technology entrepreneur who specializes in blockchain and decentralized systems. He continues to hold a strategic advisor role at Aktana, the life sciences company he co-founded in 2008. According to his LinkedIn profile, O’Holleran began the early stages of his career as an account executive at Good Technology. He spent two years there before joining Motorola’s business development and product strategy division. Kladko spent many years obtaining a PhD in physics prior to co-founding SKALE, and worked for 16 years as a technology executive in San Francisco’s Silicon Valley. He has co-founded several other companies, including Galactic Exchange and Cloudessa. Technical Analysis: this token has done its initializations and volume accumulations phase twice earlier and now it is on the move up, there are total of 3 Targets defined with Fibonacci Projection where as we get the 3 TPs confirmation as the price triggers the 2 TP with impulsion, followed by some price correction.
Long
by BitonGroup
7
SKALE NETWORK (SKL) EXPECTING GREAT INCREASE TREND - Golden one!Hello friends, Skale can show in short term a great increase trend, and depending on more trends expecting that this coin will increase. Long term target 1 usd possible. Depending on data breakout are not far. For now we looking for target 0.60, wich i expect very possible next time. - Read more about the SKL Network Discipline are the key to success - Take profit - Learn from your mistakes and never give up! The reason 1 that 90% of traders lose, not because they can't trade, but because they trade emotionally. if this appeals to you then learn yourself first before starting with trading. #Always do your own research don't follow us or someone else blindly
Long
by watchtrend
1
SKL SKALE NETWORK - BREAKOUT TO 0.40 Looks in made - BREAKOUT!Hello Traders, I hope you have a great weekend. SKALE NETWORK - looks to have a breakout in short term to 0,40+ ( long term more possible) This depending on TA and Trends. stoplimit: 0,23 - as long we stay above this trend a possible breakout above 0,40 - with long term target 1 usd. Discipline are the key to success - Take profit - Learn from your mistakes and never give up! The reason 1 that 90% of traders lose, not because they can't trade, but because they trade emotionally. if this appeals to you then learn yourself first before starting with trading. #Always do your own research don't follow us or someone else blindly
Long
by watchtrend
SKL 6h Several scenarios for the SKALE price movement SKALE is a Proof-of-Stake consensus network with the ability to process thousands of transactions per second and low fees. It is compatible with the Ethereum blockchain and will take some of the load off it. Representatives of the DeFi sector are also interested in cooperation with the project. They chose either a hype or an actual direction for the project development. The project is young, there is no trading history, so one can only suppose and fantasize about the SKL token future price movement. Most likely, the near future of the SKLUSDT price will be decided around the level of $0.122. An increased volumes of purchases and the SKL price will be able to make a low x2 to the zone of $0.25. What happen if the negative trading delta continues to dominate, as it is now? Then, first we will see the price of $0.099 or maybe below $0.087. _____________________ Since 2016 , we have been analyzing and trading the cryptocurrency market. We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer - help us to be happier :)
by P_S_trade
2