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SKL

SKL-BTC - prime for breakout!!!SKL-BTC broke out at end of April, revisit apex/resistance now turned support and bounced back. Higher low on 4/12. Would like to see higher high to confirm. RSI broke out of down-trend, bounced off over-sold and on its way up, gaining strength. MACD turned positive. With all these positive signs, I think SKL is prime to break out soon... similarly SKLUSD is nearing the apex of the triangle. Target on chart. Patience will be rewarded. Not financial advice. Good luck trading!
Long
by EtherSwinger
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
SKL - BREAKOUT IMMINENTCOINBASE:SKLUSD Have a big SKL position again after seeing FIB retracement levels hold very nicely at .58 and .62 with lots of buyers at these levels. I'm personally seeing the 75cent level of resistance break very quickly once we break out from the downtrendline. This is barring any breakdown from BTC which would obviously throw things off if it happens (knocks on wood). Not all that worried about that happening right now though because I'm also bullish on BTC again after its been overshadowed by ETH and BTC Cash the past week. BTC's been trading sideways for the past month and I think we could at least retest the 65k ATH soon. There's a potential to go back down to .58 but at this point the setup is too good to not be long IMO. Hopefully I'll see you guys at $0.85+ again very shortly :)
COINBASE:SKLUSDLong
by CaffeinatedCryptoo
5
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
SKL short-term break downwardI few days ago I published how a potential breakout might be occurring soon with regard to SKL on the daily chart, but I just wanted to update that there is now a potential short-term break downward instead after revisiting the 4-hour chart. It looks like after the dip from what looks to be a fake out from the other day, a bearish ascending broadening wedge formed instead (red dotted lines) that now looks to be starting to break downward. There looks to be a bit of resistance at the base of the current descending wedge (bottom red dotted line), but there is potential for a bit more of a dip against BTC in the short term, particularly if further BTC drops persist. And of course, this is not meant as financial advice and is just my opinion, but please like or comment if you agree or see anything differently.
by crypto_trends
Is SKLBTC beginning a breakout?SKLBTC looks to be trending fairly positively over the past few days. On March 9th, 2021, both SKL and MATIC prices increased greatly as they were added to Coinbase. Now MATIC started a breakout a few days ago, is SKL next? A few weeks ago, it initially looked like this pattern would form a descending triangle and turn bearish , but instead with the latest bitcoin dip, a descending wedge has formed instead (red lines) and looks like a breakout may occur soon. Additionally, it looks like a bullish Gartley pattern also formed around the same time as the dip, further indicating a potential reversal (as indicated by the blue lines). These bullish scenarios look further confirmed by bullish reversal divergence on MACD as it begins to trend to the positive side (red dotted lines) . However, no pattern is guaranteed, and there is still a bit of confirmation needed, particularly with regard to volume , but it definitely looks to be a trend to keep an eye on. And as always, this is not meant as any type of financial advice and is solely my opinion. But as always, please like or comment if you agree or see anything that stands out differently.
Long
by crypto_trends
4