SKALE NETWORK - SKL/USD

- USD (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	SKLUSD
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SKALE NETWORK - SKL/USD - 1H - Technical analysis published on 06/21/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Bearish

Underlying: Strongly bearish

Technical indicators

39%

22%

39%

My opinion

Bearish under 0.057539 USD

My targets

0.053698 USD (-1.65%)

0.050738 USD (-7.07%)

My analysis

The bearish basic trend is very strong on SKALE NETWORK - SKL/USD but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 0.057539 USD. Crossing the first support at 0.053698 USD would be a sign of a further potential price plummet. Sellers would then use the next support located at 0.050738 USD as an objective. Crossing it would then enable sellers to target 0.041933 USD. Caution, a return to above the resistance located at 0.057539 USD would be a sign of a possible consolidation phase of the short-term basic trend. 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, technical indicators are neutral, but do not change the general bearish opinion of this analysis.

Force

4.1

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

SKALE NETWORK - SKL/USD rating 0.054600 USD. The price registered a decrease of -0.18% on the session with the lowest point at 0.053803 USD and the highest point at 0.055502 USD. The deviation from the price is +1.48% for the low point and -1.63% for the high point.

0.053803

0.055502

0.054600

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

Technical

Technical analysis of SKALE NETWORK - SKL/USD in 1H shows a overall strongly bearish trend. 82.14% of the signals given by moving averages are bearish. This strongly bearish trend is showing signs of slowing down given the slightly bearish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting several bearish and bullish signals that could impact this trend:

Bullish trend reversal : Moving Average 20

Type : Bullish

Timeframe : 1 hour

Bearish price crossover with adaptative moving average 50

Type : Bearish

Timeframe : 1 hour

On the 18 technical indicators analysed, 7 are bullish, 7 are neutral and 4 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is under support 1

Type : Neutral

Timeframe : Weekly

RSI indicator is back under 50

Type : Bearish

Timeframe : 1 hour

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:

Near support of channel

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	0.041933	0.050738	0.053698	0.054600	0.057539	0.060568	0.062260
Change (%)	-23.20%	-7.07%	-1.65%	-	+5.38%	+10.93%	+14.03%
Change	-0.012667	-0.003862	-0.000902	-	+0.002939	+0.005968	+0.007660
Level	Intermediate	Minor	Intermediate	-	Minor	Major	Intermediate

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.049289	0.051493	0.053097	0.055301	0.056905	0.059109	0.060713
Camarilla	0.053653	0.054002	0.054351	0.054700	0.055049	0.055398	0.055747
Woodie	0.048988	0.051343	0.052796	0.055151	0.056604	0.058959	0.060412
Fibonacci	0.051493	0.052948	0.053847	0.055301	0.056756	0.057655	0.059109

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.045707	0.052105	0.057703	0.064101	0.069699	0.076097	0.081695
Camarilla	0.060002	0.061102	0.062201	0.063301	0.064401	0.065500	0.066600
Woodie	0.045307	0.051905	0.057303	0.063901	0.069299	0.075897	0.081295
Fibonacci	0.052105	0.056688	0.059519	0.064101	0.068684	0.071515	0.076097

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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	49.13
MACD (12,26,9):	-0.0001
Directional Movement:	-6.730432
AROON (14):	-14.285715
DEMA (21):	0.054767
Parabolic SAR (0,02-0,02-0,2):	0.055401
Elder Ray (13):	0.000074
Super Trend (3,10):	0.056236
Zig ZAG (10):	0.054801
VORTEX (21):	1.0434
Stochastique (14,3,5):	66.53
TEMA (21):	0.054691
Williams %R (14):	-41.38
Chande Momentum Oscillator (20):	0.000602
Repulse (5,40,3):	-0.5251
ROCnROLL:	2
TRIX (15,9):	-0.0454
Courbe Coppock:	0.06

MA7:	0.057572
MA20:	0.065210
MA50:	0.073280
MA100:	0.087620
MAexp7:	0.054792
MAexp20:	0.054929
MAexp50:	0.055199
MAexp100:	0.056222
Price / MA7:	-5.16%
Price / MA20:	-16.27%
Price / MA50:	-25.49%
Price / MA100:	-37.69%
Price / MAexp7:	-0.35%
Price / MAexp20:	-0.60%
Price / MAexp50:	-1.09%
Price / MAexp100:	-2.88%

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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