SKL BTC SKALE Technical Analysis

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By Frans van Elst

SKALE logo In this SKALE technical analysis, we will examine the current price action, trading volume, key levels and indicators for SKL-BTC. SKALE (SKL) is a fast and secure blockchain network that enables developers to build decentralized applications with ease. Its novel consensus algorithm, called the “Elastic Blockchain,” allows for high throughput and low latency, making it an attractive option for real-world use cases. Additionally, SKALE’s modular architecture allows for customization and flexibility, enabling developers to create a wide range of decentralized applications on the platform.

SKALE Price Overview:

As of May 08, 2024, SKALE is trading at approximately 0.0 BTC. Let’s dive into the detailed price action for SKL-BTC:

Delve into potential challenges for SKALE (SKLBTC) at 1.16e-06 BTC, guided by bearish technical analysis emphasizing weakened support and cautionary indicators.

Metric Value
Open (O) 0.0
High (H) 0.0
Low (L) 0.0
Close (C) 0.0
Volume (C) 388,956.00
  • Open (O): The opening price for today’s trading session was approximately 0.0 BTC.
  • High (H): SKALE reached a daily high of around 0.0 BTC.
  • Low (L): The daily low for SKL-BTC was approximately 0.0 BTC.
  • Close (C): At the time of analysis, SKALE is trading near its daily close of 0.0 BTC.
Metric Value
1D Change (%) -3.33%
3D Change (%) -7.20%
7D Change (%) -11.45%
30D Change (%) -30.95%
90D Change (%) -27.95%
YTD Change (%) -27.95%

Over the past three days, SKLBTC has fallen by approximately -7.20%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -11.45%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with SKLBTC maintaining a downward trend of approximately -30.95%, despite intermittent fluctuations. Examining the last 90 days, SKLBTC has witnessed substantial decrease of approximately -27.95%, reflecting strong long-term confidence. Year-to-date, SKLBTC has steadily dropped by around -27.95%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

SKALE Live Chart:

You can access a live price chart for SKL-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.44342.
  • Momentum score is -0.24183.

SKL BTC Technical Analysis

SKALE Trading Volume:

The trading volume for SKALE (SKL) over the past 24 hours has been insignificant, with approximately 388,956.00 BTC traded against SKL. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): SKL is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): SKALE is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for SKL-BTC is currently in the low zone, around 38.70336. This suggests that SKALE is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

SKALE (SKL-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.

Delve into potential challenges for SKALE (SKLBTC) at 1.16e-06 BTC, guided by bearish technical analysis emphasizing weakened support and cautionary indicators.

Missing our detailed breakdown on SKL USDT SKALE Technical Analysis would be a lost opportunity if you found value in this post.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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