SKL/USD Could Scale 10x From Here - Extremely Oversold On the weekly chart, SKL/USD has been in a prolonged downtrend since its all-time high in 2021. However, the price is now in extreme oversold territory, as indicated by the Relative Strength Index (RSI).
Historically, such levels have preceded significant reversals, suggesting that the downside momentum may be exhausted. The current price action is consolidating near a strong support zone around $0.03, which has held firm multiple times in the past.
On the daily chart, SKL/USD is showing signs of a potential bottoming pattern. The RSI is also deeply oversold, and the price is trading well below its 200-day moving average, indicating that the asset is undervalued relative to its long-term trend.
Skale Network’s fundamentals are stronger than ever, making the current price levels seem disconnected from its growth potential.