Skale, SKLUSDT breakout incoming ?
Hi all,
SKALE looks interesting given the rise of Layer 2 solutions and the Elastic sidechain solution SKALE is offering I think it has an upward potential.
Let's look at the technicals we are currently at a break point. You can clearly see that on the daily chart, both the diagonal and horizontal resistance levels meet in the $0.75 zone. I would say that a daily close above that level will open the door for a run towards the ATH daily candle close at $1.1, which is situated at 56 percent from the current price position.
Next target will be at the Fibonacci extension, which more or less is in synch with the triangle breakout target - $1.85 - at 158 percent from here.
Such a strong move will push the market cap of Skale above $1 billion (at $1.16 to be precise) and it will allow it to enter the Top 100, which is absolutely achievable.
Regards
SKALE looks interesting given the rise of Layer 2 solutions and the Elastic sidechain solution SKALE is offering I think it has an upward potential.
Let's look at the technicals we are currently at a break point. You can clearly see that on the daily chart, both the diagonal and horizontal resistance levels meet in the $0.75 zone. I would say that a daily close above that level will open the door for a run towards the ATH daily candle close at $1.1, which is situated at 56 percent from the current price position.
Next target will be at the Fibonacci extension, which more or less is in synch with the triangle breakout target - $1.85 - at 158 percent from here.
Such a strong move will push the market cap of Skale above $1 billion (at $1.16 to be precise) and it will allow it to enter the Top 100, which is absolutely achievable.
Regards
Comment:
The breakout here was never confirmed, but we are still in the triangle pattern. Let's see in what direction we will see the price go