SKL USDT SKALE Technical Analysis

SKALE logo 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 decentralized blockchain platform that utilizes a unique consensus algorithm called “Proof of Capacity” (PoC). This algorithm allows for faster and more energy-efficient transactions compared to traditional proof-of-work (PoW) algorithms used by other cryptocurrencies. SKALE’s PoC algorithm also enables the network to be more resistant to 51% attacks, which can compromise the security of a blockchain.

SKALE Price Overview:

As of September 22, 2023, SKALE is trading at approximately 0.02223 USDT. Let’s dive into the detailed price action for SKL-USDT:

Metric Value
Open (O) 0.02258
High (H) 0.0228
Low (L) 0.02209
Close (C) 0.02223
Volume (C) 18,807,047.00
  • Open (O): The opening price for today’s trading session was approximately 0.02258 USDT.
  • High (H): SKALE reached a daily high of around 0.0228 USDT.
  • Low (L): The daily low for SKL-USDT was approximately 0.02209 USDT.
  • Close (C): At the time of analysis, SKALE is trading near its daily close of 0.02223 USDT.
Metric Value
1D Change (%) -1.51%
3D Change (%) -2.29%
7D Change (%) -7.41%
30D Change (%) 0.23%
90D Change (%) -19.28%
YTD Change (%) 11.93%

Over the past three days, SKLUSDT has fallen by approximately -2.29%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -7.41%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with SKLUSDT maintaining an upward trend of approximately 0.23%, despite intermittent fluctuations. Examining the last 90 days, SKLUSDT has witnessed substantial decrease of approximately -19.28%, reflecting strong long-term confidence. Year-to-date, SKLUSDT has steadily appreciated by around 11.93%, 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 0.45859.
  • Momentum score is 0.00225.

SKL USDT Technical Analysis

SKALE Trading Volume:

The trading volume for SKALE (SKL) over the past 24 hours has been insignificant, with approximately 18,807,047.00 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 44.76965. 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 insignificant trading volume are low signals for potential downward movement.

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.