SKALE NETWORK - SKL/USD

- USD (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	SKLUSD
ISIN:

SKALE NETWORK - SKL/USD - 1H - Technical analysis published on 06/01/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

39%

22%

My opinion

Bearish under 0.083100 USD

My targets

0.074432 USD (-6.73%)

0.067921 USD (-14.88%)

My analysis

SKALE NETWORK - SKL/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 0.083100 USD. The next support located at 0.074432 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 0.067921 USD. Below this support, sellers could then target 0.060568 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.

In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.

Force

6.1

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 0.079799 USD. On the day, this instrument gained +0.00% and was traded between 0.079401 USD and 0.080301 USD over the period. The price is currently at +0.50% from its lowest and -0.63% from its highest.

0.079401

0.080301

0.079799

Here is a more detailed summary of the historical variations registered by SKALE NETWORK - SKL/USD:

Technical

Technical analysis of this 1H 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. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

On the 18 technical indicators analysed, 7 are bullish, 4 are neutral and 7 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is under support 1

Type : Neutral

Timeframe : 1 hour

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

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

Near horizontal support

Type : Bullish

Timeframe : 1 hour

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	0.045580	0.060568	0.067921	0.079799	0.079900	0.083100	0.084401
Change (%)	-42.88%	-24.10%	-14.88%	-	+0.13%	+4.14%	+5.77%
Change	-0.034219	-0.019231	-0.011878	-	+0.000101	+0.003301	+0.004602
Level	Minor	Major	Major	-	Intermediate	Minor	Intermediate

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.076333	0.078067	0.078933	0.080667	0.081533	0.083267	0.084133
Camarilla	0.079085	0.079323	0.079562	0.079800	0.080038	0.080277	0.080515
Woodie	0.075900	0.077850	0.078500	0.080450	0.081100	0.083050	0.083700
Fibonacci	0.078067	0.079060	0.079674	0.080667	0.081660	0.082274	0.083267

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.048032	0.059066	0.074432	0.085466	0.100832	0.111866	0.127232
Camarilla	0.082538	0.084958	0.087378	0.089798	0.092218	0.094638	0.097058
Woodie	0.050198	0.060149	0.076598	0.086549	0.102998	0.112949	0.129398
Fibonacci	0.059066	0.069151	0.075381	0.085466	0.095551	0.101781	0.111866

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.034867	0.050533	0.065167	0.080833	0.095467	0.111133	0.125767
Camarilla	0.071468	0.074245	0.077023	0.079800	0.082578	0.085355	0.088133
Woodie	0.034350	0.050275	0.064650	0.080575	0.094950	0.110875	0.125250
Fibonacci	0.050533	0.062108	0.069259	0.080833	0.092408	0.099559	0.111133

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	39.06
MACD (12,26,9):	-0.0006
Directional Movement:	-11.409269
AROON (14):	-78.571429
DEMA (21):	0.079559
Parabolic SAR (0,02-0,02-0,2):	0.080629
Elder Ray (13):	-0.000171
Super Trend (3,10):	0.081692
Zig ZAG (10):	0.079901
VORTEX (21):	0.9682
Stochastique (14,3,5):	26.23
TEMA (21):	0.079631
Williams %R (14):	-54.60
Chande Momentum Oscillator (20):	-0.000001
Repulse (5,40,3):	0.1448
ROCnROLL:	2
TRIX (15,9):	-0.1221
Courbe Coppock:	2.64

MA7:	0.083743
MA20:	0.080920
MA50:	0.083290
MA100:	0.094802
MAexp7:	0.079953
MAexp20:	0.080417
MAexp50:	0.081705
MAexp100:	0.083362
Price / MA7:	-4.71%
Price / MA20:	-1.39%
Price / MA50:	-4.19%
Price / MA100:	-15.83%
Price / MAexp7:	-0.19%
Price / MAexp20:	-0.77%
Price / MAexp50:	-2.33%
Price / MAexp100:	-4.27%

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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