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SKLUSD trade ideas

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.
COINBASE:SKLUSDLong
by MT4-trader
2
SKALE (SKL)SKALE, described as a modular blockchain network, is designed to bring scalability to Ethereum. SKALE is the only blockchain network capable of running an unlimited number of fast, on-demand, pooled-security Blockchains with zero gas fees to end users. These individual chains are known as SKALE chains and can be dapp-specific or shared. Anyway, short after SKL went up, correction started and SKL went down, a timely correction. Then, SKL broke the downtrend line, and now it seems SKL is moving in an ascending channel, going up. Let's see if SKL can break this channel and continue its upward wave.
CRYPTO:SKLUSDLong
by SaeedSalehinia
10
Why Won't You Buy This Coin Today...In this eye-opening video, we dive into the intriguing world of rare coins that have the potential to skyrocket in value by an astonishing 650%! But here's the catch: many dealers won't touch these coins with a ten-foot pole. Why is that? Join us as we explore the reasons behind this phenomenon and uncover the hidden risks associated with investing in these high-potential coins. entry... $0.033-0.035 exit... $0.25-0.30 #CoinInvestment #RareCoins #InvestmentStrategy #FinancialEducation #CryptoCoins #CoinCollector #investmentrisks
CRYPTO:SKLUSDLong
by Pan_empp
12
SKLUSD could be ready to SKALE? (3 Trade setups)Summary: Three potential trade opportunities as long as Bitcoin price action doesn't ruin the show. Story: SKLUSD has been following an upward channel since October 2023 and the recent pullback could be a good buying opportunity to enter or add to your stack. SKLUSD is an active blockchain gaming company that provides fast, gas-free transactions that is constantly engaging in new partnerships. Happy to hear what you all think of this idea. - Possible 11% gain - Price action could pop up the $0.1215 resistance - RSI looks like it could bounce off the yellow dotted horizontal ray or yellow dotted line that identifies RSI lows - Stoch RSI looks like we could see a move to the upside - Possible 30% gain - Price action could pop up to the top of the channel to around $0.14 - RSI looks like it could bounce off the yellow dotted horizontal ray or yellow dotted line that identifies RSI lows - Stoch RSI looks like we could see a bounce off the support red line to the resistance - Ambitious 56% gain - Price action could pop up to the next highest resistance of $0.17 - RSI and Stoch RSI could break the upper resistance line and keep going - If Bitcoin performs well, this definitely happen down the road. - No crypto analysis is complete without correlating it with BTC price action. If BTC can maintain staying above the resistance line it broke through in the triangle formation, we could potentially see a move up to test the ATH - Stoch RSI long look is bullish and as long as we stay above the Stoch RSI support line, good things can happen this year. Notice how the end of the ascending triangle is near the end of the year. Could this be when BTC rips even higher?
COINBASE:SKLUSDLong
by The_Moon_Lander
6
SKL-USD WEEKLY ADAM & EVE CONCEPTIn examining high timeframe setups for SKL on Coinbase, I was initially drawn to the notable trading volume, a key indicator of market interest and potential trend shifts. Upon further analysis, an Adam and Eve pattern emerged on the chart. This classic pattern in technical analysis signals a potential reversal from a downward to an upward trend. It features two parts: the Adam, a sharp and quick V-shaped bottom, and the Eve, a more gradual and rounded U-shaped bottom. The pattern's completion, indicated by a breakout above the resistance level, often suggests a bullish uptrend. For SKL/USD, applying this pattern involves measuring its depth and using this to project a price target from the breakout point. Importantly, on logarithmic charts, it's more effective to use percentage changes rather than absolute dollar values. This approach ensures consistency across different price levels and better aligns with the exponential nature of market movements. In the case of SKL/USD, if the Adam and Eve pattern is confirmed, we'd calculate the pattern's depth in percentage terms. This method offers a nuanced perspective, particularly important in logarithmic chart analysis. Our goal would be to apply this percentage change at the breakout level to determine a future price target. While I'm not claiming expert status, the current scenario suggests two possibilities for SKL/USD: (1) we teleport to the June 2021 Monthly Close over the next few weeks, or (2) we consolidate between $0.04 and $0.12 before (hopefully) pushing to the $0.23 to $0.24 level. I've personally been averaging into a position the last few weeks/months, but I'd like to get some thoughts from the community. What do you see? What am I missing? Always use stop losses! Not financial advice. Cheers :)
COINBASE:SKLUSD
by seaphoss
3