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Skale Network’s price forecast shows SKL breaking above the moving averages and reaching the $0.089 resistance level.
Skale Network Forecast Statistics Data:
- Skale Network price now – $0.087
- Market cap of Skale Network – $470.9 million
- Circulating supply of Skale Network – 5.1 billion
- Total supply of Skale Network – 5.4 billion
- Skale Network Coinmarketcap Ranking – #115
SKL/USD market
Key Levels:
Resistance levels: $0.110, $0.120, $0.130
Support levels: $0.060, $0.050, $0.040
SKL/USD is peaking at $0.089 today as the coin aims to trade near the upper limit of the channel. Meanwhile, the bulls could gradually continue the upward movement once the bulls increase buying pressure. Therefore, the Skale Network may have to face the upside of the other to counter the downward pressure, while the nearest support sees the coin at $0.075, which could be a daily low.
Skale Network Price Prediction: Skale Network is likely to reach a high of $0.100
Skale Network price could start moving upwards as a bullish cross above the channel upper boundary could push the coin towards the $0.110, $0.120, and $0.130 resistance levels. On the other hand, a bearish move below the 21-day moving average could halt the initial upward move and create bearish momentum with an emphasis on taking the market to the next support levels of $0.060, $0.050 and $0.040 respectively.
Currently, the 9-day moving average is hovering above the 21-day moving average, indicating that the market could be following an upward trend. Looking at the daily chart, the bulls are likely to increase the move as buyers put more effort into pushing the coin towards the potential resistance level of $0.100.
SKL/BTC is rising
Skale Network’s price remains above the 9 and 21 day moving averages against Bitcoin, indicating bullish momentum. However, should the bulls fail to continue this uptrend, the SKL price could fall as selling pressure increases.
On the other hand, if bearish momentum prevails and crosses the lower limit of the channel, the market price could fall to the support level at 120 SAT and below. Conversely, maintaining the bullish trajectory could push the coin above the upper limit of the channel, targeting the resistance level of 250 SAT and above.
Skale Network Alternatives
According to the daily chart, Skale Network price is approaching the USD 0.100 resistance level, indicating potential for further gains. However, with increasing pressure from buyers, the coin is poised for upward momentum. Currently, the 9-day moving average is above the 21-day moving average, indicating a favorable buy signal.
Despite Skale Network (SKL) having a substantial market cap of $470.9 million and occupying the 115th position in the market rankings, its significance can be somewhat overshadowed by its extensive market cap. On the other hand, the Bitcoin Minetrix token offers an attractive opportunity to improve returns within the cryptocurrency asset class. Moreover, the current moment seems opportune to invest in this promising asset, as the token has already collected around $8.2 million in its ongoing presale.
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