SKLUSDT trade ideas
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.
SKALE TO THE MOON ???After the Coinbase listing hype, SKL has looked like it has formed at bottom at a support area. There looks to be future upside with this asset.
SKL - It will go to ATH again!Here's a quick look at SKL 4 hr chart. As we can see the price broke out from the bull pennant and did a retest and then broke through resistance. The next area of resistance is around 0.8$.
The idea is: Buy the retest of the level shown in the chart, and if it does not retest then buy the breakout from the are shown in the chart. Take profits at the level shown in the chart.
Targets:
1. 0.86$
2. 0.94$
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BTC dictates the market. If BTC falls, then Alts will fall as well. BTC needs to get stable before alts can run. Trade safe!
SKL/USDT Stumbles out of falling wedge (50%-100%)SKL stumbles out of falling wedge & is now confirmed bullish IMO - IMO its looking at a 50 to 100 percent uptick to fib 1.272... soon
have fun and good luck
critique me please
SKLUSDTSKL looks like typical bottom of the cup. Doesn´t need to be strictly - prime is reflection from the bottom. Nice targets for spot or lower targets for leverage isolated.
Enjoy it and as always - keep learning, keep earning.
Skl is almost ready for the next wave (easy 50%)Buy Between 62-75 cent
1st target $1
other targets on the chart
SKALE Token looking goodOpening a small long here. It has decent accumulation over that area of support.
SKLUSDT - 1 HOURAfter a 45% drop it seems that we are now accumulating before a move up.
We need to break major resistance first.
For every new follower i will add a new idea :)
Next rocket ready to take off!!I love the way this graph looks. There is huge potential. SKLUSD on coinbase needs an 80%+ gain to reach the all time high again. Will most likely wait for significant volume to confirm upwards movement before entering in a trade.
SKL -90% gain- Breaking out of the fallign wedge
- Still need some volume to kick this one off, however;
- great discount with a strong leg up pending.
- target the 1.272 Fib ext.
Good luck!
SKL possible breakout level SKL is breaking its downward channel. Bullish divergence on the 1H RSI and MACD; stable support on the .618 fib retracement lvl. Looking for confirmation and entry.
SKL Potential break out - another beautiful falling wedge Looking to break out from somewhere inside the green box, as it corresponds with the previous high.
The last pump came from SKL's Coinsbase listing and was somewhat explosive, and has had a week or so consolidation, and is now looking to break out again, as USA wakes up with their new stimulus checks in their accounts.
A survey performed by the bank of America found that 20 - 30% of stimulus check will find their way to the stonk and crypto markets.... time will tell.
Fib levels stated on the way up.
