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The Skale Network price prediction could set a bullish run if the buyers can push the coin above the resistance level of $0.084.
Skale Network Thriving with Strong Activity
Skale Network stands out as a rapidly advancing force in the blockchain sector. Serving as a zero-gas Ethereum Virtual Machine (EVM), it empowers developers to expedite their applications while simultaneously offering users cost savings on gas fees.
Skale Network Prediction Statistics Data:
- Skale Network price now – $0.080
- Skale Network market cap – $401 million
- Skale Network circulating supply – 5.1 billion
- Skale Network total supply – 5.4 billion
- Skale Network Coinmarketcap ranking – #130
SKL/USD Market
Key Levels:
Resistance levels: $0.105, $0.110, $0.115
Support levels: $0.055, $0.050, $0.045
SKL/USD is running a little retracement move above $0.080 with price growth of 10%. For the fact that the coin is recording some gain, the Skale Network price may follow a sideways movement if the buyers fail to push the market price to the upside. Meanwhile, traders can expect the price to continue to rise as soon as the bulls put more pressure on the market.
Skale Network Price Prediction: Skale Network (SKL) May Move Upside
The Skale Network price is hovering above the 9-day and 21-day moving averages around $0.080. If the price creates an additional bullish movement, traders can then expect a bullish continuation toward the upper boundary of the channel. Meanwhile, as the 9-day MA moves to cross above the 21-day MA, the possible resistance levels could be found at $0.105, $0.110, and $0.115 in the long term.
However, if the coin follows the bullish movement for the next couple of days, traders may witness more of it to reach higher levels. Meanwhile, the Skale Network price is trying to create a bullish movement in the short term. On the contrary, any bearish movement toward the south could roll the coin back to the long-term support at $0.055, $0.050, and $0.045 levels.
SKL/BTC May Face the Upside
Against Bitcoin, Skale Network may continue to follow the sideways movement before heading to the upside. However, there is a need for an increasing volume and resistance to cause an upsurge in the market. At the moment, Skale Network (SKL) is trading around the 169 SAT but any bearish movement can hit the support at 110 SAT and below.
Nevertheless, if a bullish move pushes the price above the moving averages; traders can then confirm a bull run for the coin. Moreover, the closest resistance could be located at 230 SAT and above as the 9-day moving average could make a bullish cross above the 21-day moving average, suggesting bullish movement.
@JavonTM1’s analysis indicates that $SKL (#SKALENetwork) is demonstrating significant strength, suggesting a potential continuation of its impressive upward momentum. With this extreme run, prices could potentially surge nearly 10X, marking an approximate 890% increase to reach around $0.83.
$SKL (#SKALENetwork) back showing signs of MAJOR STRENGTH here and the continuing of this EXTREME RUN can be taking place!
Prices can be set for a NEAR 10X in an OVER 890% move from here to ≈$0.83… https://t.co/KH42xZP7Sx pic.twitter.com/5dGYHj1Wte
— JAVON⚡️MARKS (@JavonTM1) February 9, 2024
Alternatives to Skale Network
The Skale Network price shows potential for further gains, but a favorable buy signal may occur when the 9-day moving average crosses above the 21-day moving average. Despite Skale Network’s substantial market capitalization of $401 million and holding the 130th position in market rankings, its significance may be overshadowed by its market cap. Conversely, the Bitcoin Minetrix token offers an enticing opportunity for enhanced returns, having already raised $10.6 million in its presale.
Bitcoin Minetrix ICO Raises $10M – A Crypto with 10X Potential?
Bitcoin Minetrix (BTCMTX) is charging ahead on a bullish trajectory, having amassed over $10.6 million in its ongoing presale. As innovative projects like Bitcoin Minetrix (BTCMTX) continue to gain momentum, edging closer to the $11 million mark in its ICO, the outlook for the crypto market in 2024 shines brightly with optimism.
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