SKALE NETWORK - SKL/USD

- USD (-)

- Real time data - Cryptocompare

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Cryptocurrencies
Ticker:	SKLUSD
ISIN:

SKALE NETWORK - SKL/USD - Daily - Technical analysis published on 09/03/2023 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

11%

72%

17%

My opinion

Bearish under 0.021540 USD

My targets

0.017640 USD (-13.49%)

0.013680 USD (-32.91%)

My analysis

The bearish trend is currently very strong for SKALE NETWORK - SKL/USD. As long as the price remains below the resistance at 0.021540 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 0.017640 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 0.013680 USD as an objective. Crossing it would then enable sellers to target 0.007950 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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 bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.

Force

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

SKALE NETWORK - SKL/USD rating 0.020390 USD. The price is lower by -0.05% since the last closing and was traded between 0.020200 USD and 0.020800 USD over the period. The price is currently at +0.94% from its lowest and -1.97% from its highest.

0.020200

0.020800

0.020390

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:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new LOW record (5 years)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 year)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of SKALE NETWORK - SKL/USD indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

The probability of a further decline is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is under support 1

Type : Neutral

Timeframe : Daily

MACD crosses DOWN its Moving Average

Type : Bearish

Timeframe : Daily

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:

Doji

Type : Neutral

Timeframe : Daily

ProTrendLines

Price

	Price	R1	R2	R3
ProTrendLines	0.020390	0.021540	0.029529	0.044732
Change (%)	-	+5.64%	+44.82%	+119.38%
Change	-	+0.001150	+0.009139	+0.024342
Level	-	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	0.018967	0.019533	0.019967	0.020533	0.020967	0.021533	0.021967
Camarilla	0.020125	0.020217	0.020308	0.020400	0.020492	0.020583	0.020675
Woodie	0.018900	0.019500	0.019900	0.020500	0.020900	0.021500	0.021900
Fibonacci	0.019533	0.019915	0.020151	0.020533	0.020915	0.021151	0.021533

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.015967	0.017933	0.019167	0.021133	0.022367	0.024333	0.025567
Camarilla	0.019520	0.019813	0.020107	0.020400	0.020693	0.020987	0.021280
Woodie	0.015600	0.017750	0.018800	0.020950	0.022000	0.024150	0.025200
Fibonacci	0.017933	0.019156	0.019911	0.021133	0.022356	0.023111	0.024333

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.007950	0.013680	0.017640	0.023370	0.027330	0.033060	0.037020
Camarilla	0.018935	0.019824	0.020712	0.021600	0.022488	0.023377	0.024265
Woodie	0.007065	0.013238	0.016755	0.022928	0.026445	0.032618	0.036135
Fibonacci	0.013680	0.017382	0.019668	0.023370	0.027072	0.029358	0.033060

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):	30.73
MACD (12,26,9):	-0.0013
Directional Movement:	-28.297999
AROON (14):	0
DEMA (21):	0.020696
Parabolic SAR (0,02-0,02-0,2):	0.022681
Elder Ray (13):	-0.001286
Super Trend (3,10):	0.024248
Zig ZAG (10):	0.020400
VORTEX (21):	0.7664
Stochastique (14,3,5):	21.88
TEMA (21):	0.020341
Williams %R (14):	-84.38
Chande Momentum Oscillator (20):	-0.001300
Repulse (5,40,3):	-4.9818
ROCnROLL:	2
TRIX (15,9):	-0.7974
Courbe Coppock:	13.14

MA7:	0.021486
MA20:	0.022070
MA50:	0.025452
MA100:	0.026875
MAexp7:	0.021195
MAexp20:	0.022483
MAexp50:	0.024659
MAexp100:	0.027050
Price / MA7:	-5.10%
Price / MA20:	-7.61%
Price / MA50:	-19.89%
Price / MA100:	-24.13%
Price / MAexp7:	-3.80%
Price / MAexp20:	-9.31%
Price / MAexp50:	-17.31%
Price / MAexp100:	-24.62%

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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Londinia AI

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