Skale Network Price Prediction for Today, August 23 – SKL Technical Analysis

The Skale Network price prediction shows that SKL is attempting to cross above the moving averages.

Skale Network Prediction Statistics Data:

• Skale Network price now – $0.022
• Skale Network market cap – $103.1 million
• Skale Network circulating supply – 4.6 billion
• Skale Network total supply – 5.4 billion
• Skale Network Coinmarketcap ranking – #181

SKL/USD Market

Key Levels:

Resistance levels: $0.028, $0.030, $0.032

Support levels: $0.016, $0.014, $0.012

SKL/USD peaks at $0.022 today, after which the coin begins to range within the channel. Meanwhile, the price not crossing above the 9-day moving average may ruin the long-term technical picture of the coin. However, the Skale Network may need to face the upside in other to guide against the downward pressure while the closest support expects the coin at $0.020, which could be a daily low.

Skale Network Price Prediction: Skale Network Likely to Hit $0.025 High

At the time of writing, the Skale Network price is likely to trend to the upside as a bullish cross above the 21-day moving average could push the coin to the resistance levels of $0.028, $0.030, and $0.032. On the downside, a bearish movement below the lower boundary of the channel could stop the initial upward movement and create bearish momentum with a focus on bringing the market to the next support levels of $0.016, $0.014, and $0.012 respectively.

At the moment, the technical indicator Relative Strength Index (14) is likely to cross above the 40 level, which indicates that the market could follow an uptrend. Looking at the daily chart, the 9-day moving average remains below the 21-day moving average which could allow the sellers to concentrate on stirring action to the south.

SKL/BTC May Face the Upside

Against Bitcoin, the Skale Network is likely to cross above the 9-day moving average if the bulls increase the pressure. Meanwhile, following the recent positive sign, the SKL price may go down if the sellers sustain the pressure further.

However, if the bears break toward the lower boundary of the channel, the market price may reach the support level at 58 SAT and below. Moreover, the continuation of the bullish movement could allow the coin to go above the upper boundary of the channel and push the price to the resistance level of 110 SAT and above as the technical indicator Relative Strength Index (14) is crossing above the 40-level which could boost the bullish movement.

Alternatives to Skale Network

According to the daily chart, the Skale Network price is moving close to the resistance level of $0.025 as the coin prepares to create an additional gain. The technical indicator Relative Strength Index (14) is likely to cross above the 40 level, with the signal line pointing up to indicate a buy signal.

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