SKALE NETWORK - SKL/USD - 1H - Technical analysis published on 02/09/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 0.042800 USD
My targets
0.045967 USD (+5.65%)
0.046700 USD (+7.33%)
My analysis
The bullish trend is currently very strong on SKALE NETWORK - SKL/USD. As long as the price remains above the support at 0.042800 USD, you could try to benefit from the boom. The first bullish objective is located at 0.045967 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 0.046700 USD as an objective. Crossing it would then enable buyers to target 0.052000 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.2
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Additional analysis
Quotes
The SKALE NETWORK - SKL/USD rating is 0.043510 USD. The price registered an increase of +6.90% on the session and was traded between 0.038630 USD and 0.044890 USD over the period. The price is currently at +12.63% from its lowest and -3.07% from its highest.0.038630
0.044890
0.043510
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of SKALE NETWORK - SKL/USD in 1H shows a strongly overall bullish trend. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.038600 | 0.040942 | 0.042800 | 0.043510 | 0.046700 | 0.052000 | 0.064200 |
| Change (%) | -11.28% | -5.90% | -1.63% | - | +7.33% | +19.51% | +47.55% |
| Change | -0.004910 | -0.002568 | -0.000710 | - | +0.003190 | +0.008490 | +0.020690 |
| Level | Minor | Major | Major | - | Major | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.032807 | 0.036493 | 0.038597 | 0.042283 | 0.044387 | 0.048073 | 0.050177 |
| Camarilla | 0.039108 | 0.039639 | 0.040169 | 0.040700 | 0.041231 | 0.041762 | 0.042292 |
| Woodie | 0.032015 | 0.036098 | 0.037805 | 0.041888 | 0.043595 | 0.047678 | 0.049385 |
| Fibonacci | 0.036493 | 0.038705 | 0.040072 | 0.042283 | 0.044495 | 0.045862 | 0.048073 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.026333 | 0.029567 | 0.034533 | 0.037767 | 0.042733 | 0.045967 | 0.050933 |
| Camarilla | 0.037245 | 0.037997 | 0.038748 | 0.039500 | 0.040252 | 0.041003 | 0.041755 |
| Woodie | 0.027200 | 0.030000 | 0.035400 | 0.038200 | 0.043600 | 0.046400 | 0.051800 |
| Fibonacci | 0.029567 | 0.032699 | 0.034634 | 0.037767 | 0.040899 | 0.042834 | 0.045967 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.004133 | 0.011867 | 0.023233 | 0.030967 | 0.042333 | 0.050067 | 0.061433 |
| Camarilla | 0.029348 | 0.031098 | 0.032849 | 0.034600 | 0.036351 | 0.038102 | 0.039853 |
| Woodie | 0.005950 | 0.012775 | 0.025050 | 0.031875 | 0.044150 | 0.050975 | 0.063250 |
| Fibonacci | 0.011867 | 0.019163 | 0.023671 | 0.030967 | 0.038263 | 0.042771 | 0.050067 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 60.36 | |
| MACD (12,26,9): | 0.0003 | |
| Directional Movement: | 24.588478 | |
| AROON (14): | 42.857143 | |
| DEMA (21): | 0.041738 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.039409 | |
| Elder Ray (13): | 0.001381 | |
| Super Trend (3,10): | 0.039974 | |
| Zig ZAG (10): | 0.043290 | |
| VORTEX (21): | 1.0630 | |
| Stochastique (14,3,5): | 69.81 | |
| TEMA (21): | 0.042037 | |
| Williams %R (14): | -19.17 | |
| Chande Momentum Oscillator (20): | 0.001710 | |
| Repulse (5,40,3): | 3.2479 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0594 | |
| Courbe Coppock: | 3.38 |
| MA7: | 0.040197 | |
| MA20: | 0.037265 | |
| MA50: | 0.029441 | |
| MA100: | 0.028535 | |
| MAexp7: | 0.042270 | |
| MAexp20: | 0.041543 | |
| MAexp50: | 0.041205 | |
| MAexp100: | 0.040434 | |
| Price / MA7: | +8.24% | |
| Price / MA20: | +16.76% | |
| Price / MA50: | +47.79% | |
| Price / MA100: | +52.48% | |
| Price / MAexp7: | +2.93% | |
| Price / MAexp20: | +4.73% | |
| Price / MAexp50: | +5.59% | |
| Price / MAexp100: | +7.61% |
Quotes :
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Real time data
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This member declared not having a position on this financial instrument or a related financial instrument.
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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