SKALE NETWORK - SKL/USD

- USD (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	SKLUSD
ISIN:

SKALE NETWORK - SKL/USD - Daily - Technical analysis published on 02/09/2023 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

72%

22%

My opinion

Bullish above 0.042800 USD

My targets

0.050067 USD (+13.27%)

0.052000 USD (+17.65%)

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 0.050067 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 0.052000 USD as an objective. Crossing it would then enable buyers to target 0.064200 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.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

8.2

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The SKALE NETWORK - SKL/USD price is 0.044200 USD. On the day, this instrument gained +8.60% and was between 0.038630 USD and 0.044890 USD. This implies that the price is at +14.42% from its lowest and at -1.54% from its highest.

0.038630

0.044890

0.044200

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The study of the highest / lowest by the Central Records scanner shows the following results:

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 this Daily chart of SKALE NETWORK - SKL/USD indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

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 : Daily

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

Price is back over the pivot point

Type : Bullish

Timeframe : Daily

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Horizontal resistance is broken

Type : Bullish

Timeframe : Daily

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	0.024750	0.037014	0.042800	0.044200	0.052000	0.064200	0.074900
Change (%)	-44.00%	-16.26%	-3.17%	-	+17.65%	+45.25%	+69.46%
Change	-0.019450	-0.007186	-0.001400	-	+0.007800	+0.020000	+0.030700
Level	Minor	Intermediate	Major	-	Intermediate	Minor	Major

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

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):	68.81
MACD (12,26,9):	0.0033
Directional Movement:	24.826463
AROON (14):	42.857143
DEMA (21):	0.041375
Parabolic SAR (0,02-0,02-0,2):	0.037100
Elder Ray (13):	0.002978
Super Trend (3,10):	0.031882
Zig ZAG (10):	0.043990
VORTEX (21):	1.1462
Stochastique (14,3,5):	70.24
TEMA (21):	0.042410
Williams %R (14):	-20.22
Chande Momentum Oscillator (20):	0.007990
Repulse (5,40,3):	6.3971
ROCnROLL:	1
TRIX (15,9):	1.4766
Courbe Coppock:	28.51

MA7:	0.040186
MA20:	0.037290
MA50:	0.029453
MA100:	0.028541
MAexp7:	0.040441
MAexp20:	0.036996
MAexp50:	0.032483
MAexp100:	0.031925
Price / MA7:	+9.99%
Price / MA20:	+18.53%
Price / MA50:	+50.07%
Price / MA100:	+54.86%
Price / MAexp7:	+9.30%
Price / MAexp20:	+19.47%
Price / MAexp50:	+36.07%
Price / MAexp100:	+38.45%

Quotes : - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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