In this SKALE technical analysis, we will examine the current price action, trading volume, key levels and indicators for SKL-USDT. 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 platform for real-world use cases. Additionally, SKALE’s modular architecture enables customization and flexibility, allowing developers to tailor the network to their specific needs.
SKALE Price Overview:
As of July 06, 2024, SKALE is trading at approximately 0.04006 USDT. Let’s dive into the detailed price action for SKL-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.039 |
| High (H) | 0.04142 |
| Low (L) | 0.03896 |
| Close (C) | 0.04006 |
| Volume (C) | 61,093,882.00 |
- Open (O): The opening price for today’s trading session was approximately 0.039 USDT.
- High (H): SKALE reached a daily high of around 0.04142 USDT.
- Low (L): The daily low for SKL-USDT was approximately 0.03896 USDT.
- Close (C): At the time of analysis, SKALE is trading near its daily close of 0.04006 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 3.03% |
| 3D Change (%) | -14.05% |
| 7D Change (%) | -18.01% |
| 30D Change (%) | -46.30% |
| 90D Change (%) | -66.09% |
| YTD Change (%) | -41.18% |
Over the past three days, SKLUSDT has dropped by approximately -14.05%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -18.01%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with SKLUSDT maintaining a downward trend of approximately -46.30%, despite intermittent fluctuations. Examining the last 90 days, SKLUSDT has witnessed substantial fall of approximately -66.09%, reflecting strong long-term confidence. Year-to-date, SKLUSDT has steadily declined by around -41.18%, 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-USDT 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 0.6508.
- Momentum score is -0.36844.
SKL USDT Technical Analysis
SKALE Trading Volume:
The trading volume for SKALE (SKL) over the past 24 hours has been significant, with approximately 61,093,882.00 USDT 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-USDT is currently in the low zone, around 32.10196. This suggests that SKALE is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
SKALE (SKL-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Navigate SKALE’s (SKLUSDT) potential downturns at 4.01e-02 USDT with bearish technical analysis, emphasizing weakened support and cautionary indicators.
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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.