Get started

SKL / TetherUS

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Markets

SKLUSDT trade ideas

Skale, SKLUSDT breakout incoming ?Hi all, SKALE looks interesting given the rise of Layer 2 solutions and the Elastic sidechain solution SKALE is offering I think it has an upward potential. Let's look at the technicals we are currently at a break point. You can clearly see that on the daily chart, both the diagonal and horizontal resistance levels meet in the $0.75 zone. I would say that a daily close above that level will open the door for a run towards the ATH daily candle close at $1.1, which is situated at 56 percent from the current price position. Next target will be at the Fibonacci extension, which more or less is in synch with the triangle breakout target - $1.85 - at 158 percent from here. Such a strong move will push the market cap of Skale above $1 billion (at $1.16 to be precise) and it will allow it to enter the Top 100, which is absolutely achievable. Regards
Long
by FutureBlockchain
SKL IS LOADING UPWe are riding a massive descending channel, which is a bullish sign. We are also riding a smaller descending channel, which again is a bullish sign. MA50 and EMA50 are strong support factors. If conquered, MA100 could be a major support. In that case, the possibility of a golden cross will bring hope. (I have not included MA30 because price action history shows it is not a formidable resistance) We have a strong rising trend line which could act as a solid wall of support. Also, in the 8H timeframe, we could be witnessing the completion of a "W". If completed, breakout will be the net result. (Caution: This is only a possibility) In the weekly timeframe, we have had a decent corrective trend. in the monthly timeframe, after the massive upswing we can witness, there has been a correction that happened last month. The correction extended to the 0.382, meaning a deep correction, and managed to close the body above the 0.5 FIB extension which is a good sign. The correction has been healthy and needed to grab liquidity to scale higher. If you're hodler, your targets to sell could be 1.8 or 2.2. However, if you're seeking mid-term gains, your targets could be 1.03 and 1.2.
Long
by Djawad_Afsharirad
12
SKLUSDT (SKALE NETWORK) - BULLISH SETUP ANALYSIS 🔎 - SKLUSDT is on a mid-term uptrend supported by the ascending trendline support. - The market hit a swing high and retraced. - Price is retesting the flip horizontal support, the ascending trendline support and the key fibonacci retracement zone (0.5 - 0.618 - 0.786). - There's a relatively high concentration of buyers at this zone. - The retracement is resisted by the descending trendline resistance. - Breakout above this descending trendline resistance could be an uptrend continuation signal. BUY ENTRY ⬆️ - Breakout above the descending trendline resistance. - Retest of the descending trendline resistance after the breakout. TARGETS 🎯 - Horizontal resistance level (R1). - Horizontal resistance level (R2). - Horizontal resistance level (R3). - Fibonacci extension levels. SETUP INVALIDATION ❌ - Breakdown below the ascending trendline support.
Long
by Chibuike_Odoh