- The price of the SKALE is trading at the price of $0.02423227. The coin’s price declined by -3.89% in the last 24 hours.
- The SKALE network price is observing an increase of -3.24% in the last 7 days.
- The market capitalization of SKALE Network at $109952937.
Trend Evaluation
By evaluating the price data of SKALE Network, it can be said that it is in a downtrend currently. The price declined by -3.24% in the last seven days and we can say that the SKALE Network is underperforming right now. From its peak price of $1.22, it fell -98.01% in a year and demolished the investors’ wealth. The current market sentiments are not good.
SKALE Network Technical Analysis
EMA
The price of SKALE Network slipped below 50 and 200 EMA right now. This suggests that the price is in a bearish trend. If the bears continue to push the price downwards, it could fall more in value in the upcoming week if current support gets destroyed by the sellers.
RSI
The RSI line has been moving in the oversold zone. The RSI line is around 33.83. The 14 SMA has a value of 34.33 points. This indicates that the SKALE Network market is in the oversold zone.
MACD
Right now, MACD is giving bearish views. The MACD line is below the signal line and both the MACD line and the signal line are beneath the zero line. This hints the bearish sentiments about the price.
Trendline Analysis
The price is already respecting the major trendline support. If the price breaks the current support price of the SKALE, itcan continue to fall up to the next support, and if it breaks the next, it can go down more.
Volume Analysis
The SKALE trading volume of 24 hours is $4415712 with an 8.10% increase in volume in the last 24 hours. There is no significant boost in the volume of the coin.
Technical Levels
- Support – The current support level of the SKALE Network is $0.0208.
- Resistance –The current resistance level of the SKALE Network is $0.038.
Conclusion
SKALE is facing a tough time in the market. According to the present data and analysis, we can say that it is in the bear’s control. The price action suggests that the price may fall more in the upcoming days. It is because the price broke its major trendline support level. SKALE price shows a pessimistic scenario at the moment. Major reliable indicators like EMA, RSI, and MACD are giving negative signals about the SKALE Network coin. The fear is growing among investors because of the poor performance of the coin. Recovery signs are not visible in the coin as well.
Disclaimer
The analysis given in this article is for informational and educational use only. Do not use this information as financial, investment, or as trading advice. Investing and trading in crypto is a risky task. Please consider your circumstances and risk profile before making any investment decisions.
