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SKLUSD

SKL (SKALE Network) Token Analysis 24/03/2021Fundamentals: SKALE is described as an elastic network that’s designed to bring scalability to Ethereum. As well as boosting transaction capacity, the decentralized project aims to reduce latency and ensure that payments can be made as cheaply as possible. The project’s website says it wants to enable people to build and run DApps in a “decentralized modular cloud built for real-world needs and configured for your requirements.” This emphasis on decentralization isn’t at the expense of security. According to SKALE, those who build on this platform can run Solidity smart contracts “thousands of times faster at a fraction of the mainnet cost” — with games and content streaming services among the projects that already take advantage of its infrastructure. SKALE Network is geared towards improving both security and decentralization of Ethereum-based apps. Token holders on the SKALE Network are incentivized and earn rewards by helping to improve the scalability and security of the platform by serving as validators. The SKALE Network was the first project to launch a token on ConsenSys Codefi’s Activate platform — which is “designed to launch decentralized networks and allow customers to purchase, manage and use their tokens — all in one application.” Activate was designed to create new standards for the distribution of utility tokens, and ensure that networks are fully usable as soon as tokens are sold. It’s hoped that this approach will help clean up the appearance of the initial coin offering sector, which has been susceptible to scams in recent years. By launching a token that meets regulatory standards, SKALE is intending its token to be widely adopted and avoid any fraudulent activity. Ethereum is typically slow to verify and authorize transactions. Using SKALE Network greatly improves the speed at which Ethereum verifies transactions as SKALE can operate much faster and run up to a maximum of 2,000 transactions per second per chain, according to the team. SKALE Network was founded by Jack O’Holleran and Stan Kladko, both of whom have vast experience across the software industry. O’Holleran — the co-founder and chief executive of SKALE — is a technology entrepreneur who specializes in blockchain and decentralized systems. He continues to hold a strategic advisor role at Aktana, the life sciences company he co-founded in 2008. According to his LinkedIn profile, O’Holleran began the early stages of his career as an account executive at Good Technology. He spent two years there before joining Motorola’s business development and product strategy division. Kladko spent many years obtaining a PhD in physics prior to co-founding SKALE, and worked for 16 years as a technology executive in San Francisco’s Silicon Valley. He has co-founded several other companies, including Galactic Exchange and Cloudessa. Technical Analysis: this token has done its initializations and volume accumulations phase twice earlier and now it is on the move up, there are total of 3 Targets defined with Fibonacci Projection where as we get the 3 TPs confirmation as the price triggers the 2 TP with impulsion, followed by some price correction.
Long
by BitonGroup
7
SKLUSD: Tick Tock Tick Tock.... big resistance at 0.75-0.76As above. SKLUSD slowly crawling along the bottom trend line with continued decent support at 0.68 with strong résistance and multiple rejections at 0.75-0.76. Volume continues to be very low. MACD still appears to be trending upward toward the 0 line at least on the 2H and 4H time frames. The BB squeeze is still tight and only a matter of time before we see a jump in price action but not sure of timing! I would think a good break out over 0.76 with an increase in volume would signal a possible start of new uptrend in price action. If it breaks 0.68 support, then down to low 0.6 area at least in the immediate short term. Good luck traders!
COINBASE:SKLUSD
by Ambassadorj
11
SKLUSD: 2H Watch this coin! Possible ascending channel setupAs above. Looks like some good support at 0.68 and appearing as if it is consolidating and trading sideways for now with BB squeeze. Bullish divergence on MACD and not over or undersold on RSI. Has lots of room to go up should it take off. SHUSHI USD looking very similar as well to me. Please watch for BTC crash that may put a damper on any possible ALT coin uptrend in the short term but hopefully in the end BTC dominance will decrease and allow for ALTs to pump again. Good luck traders!
COINBASE:SKLUSD
by Ambassadorj
9
SKL/USDT increase will happen soon!Hi every one SKL / TETHERUS SKL/USDT has formed a ascending triangle which is a good thing we can be sure and expect that the price would actually increase but only after the breaking of this pattern! It is expected that the projected price movement to be as good as the measured price movement. Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!! Thank you for seeing idea . Have a nice day and Good luck.
Long
by CobraVanguard
9
SKL/USDT (Bearish Triangle Pattern?)💎Technical Analysis Summary💎 BINANCE: SKLUSDT -The price action is technically bearish for the last 7 days -We can see a series of Lower Highs and flat area of support -This is not a good sign, because this support becomes weaker over time -Most of the time, this triangle breaks to the downside -Please be cautious and always to follow your stop loss ⚠️Please always read the description⚠️ A big Thanks for donating 💰 via Tradingview coins this week to CryptoConsultingServices 🙏🎉 `````````````````````````````````````````````` Trading Involves High Risk ⚠️ Not Financial Advice 💸 Please Exercise Risk Management 💱 `````````````````````````````````````````````` Thank You All!🙏😊💖For Supporting My Channel 📺 Through Leaving A Thumbs Up, Comment & Follow 💬 Happy Trading!😊💕💖 ``````````````````````````````````````````````
by PolarHusk
4