SKALE Network Price Prediction – Will SKL Price Hit $3 Soon?

This SKALE Network Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our SKL price analysis and prediction.

Among the cryptocurrencies that are rallying this year, SKL is perhaps one of the most surprising for some. It is not directly related to Bitcoin, nor is it the most hyped cryptocurrency today. But for those that are aware, SKL has been around since December 2019.

Can SKL reach $3 in 2021? We will find out shortly. But before we proceed to our SKL analysis, let us first answer the question “What is SKALE?” in this SKL prediction 2021 article.

What is Skale Network (SKL)?

SKALE is explained as an elastic network that is developed to bring Ethereum scalability. In addition, the platform boosts transaction capacity which is a decentralized project that focuses to decrease the latency and assuring that payment could be made as cheap as possible.

Even more, the platform enables people to develop and run DApps in a “decentralized modular cloud built for real-world needs and configured for your requirements.” More so, this enhances that the decentralization is not at the expense of security.

As per SKALE, those who develop 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 benefit of its infrastructure.

Now that we are clear about SKALE do you think SKL will be beneficial crypto in 2021? Join me and let us see the charts in this SKALE price analysis and SKL price prediction.

SKALE Network Current Market Status

As of the time of writing this SKL price analysis, SKL trades at $0.208 with a 24-hour trading volume of $18,586,643. The price of SKL has decreased by 3.27% in the last 24 hours.

Furthermore, SKL has a current circulating supply of 2.64B SKL. Currently, the top cryptocurrency exchanges for SKL are Binance, OKEx, Huobi Global, Mandala Exchange, and CoinTiger.

Now, let’s proceed to the next part of this SKL technical analysis for 2021.

Skale Network (SKL) Price Analysis 2021

Currently, SKALE holds 132nd place on CoinMarketCap. But will the latest upgrades, development, and changes in the SKALE blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this SKL price prediction article.

In the chart above, which is set in a daily time frame, we can see the Descending Channel pattern. A descending channel is the price action that takes place in a downward direction through a sloping parallel line. Also, the chart displays the lower highs and lower lows from this price pattern. More so, this pattern represents a short-term bullish.

As shown above, at the beginning of this month, SKL turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.

The Relative Strength Index (RSI) is above 32.18, which means that SKL is in a nearly oversold state. With this traders need to stay cautious while trading, turning away from further losses.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of SKL.

Since the start of 2021, SKL’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, SKL has a competitive market this 2021.

Skale Network (SKL) Price Prediction 2021

The chart below shows that SKL has performed great over the past few days. Moreover, the SKL price shows a bullish trend. If this trend continues, SKL might run along with the bulls, overtaking its $1.25 resistance level and moving higher.

Conversely, if the investors turn towards the crypto, the bears might take over and push SKL from its uptrend position. In simpler terms, the price of SKL might plummet to almost $0.185, a bearish signal.

Meanwhile, our long-term SKL price prediction for 2021 is bullish. It has a high possibility of reaching new heights. More so, this will only happen if it breaks many past psychological resistances.

Skale Network (SKL) Price Prediction 2022

If this bullish trend continues, SKL will reach $5 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $5.5. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $5 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Skale Network (SKL) Price Prediction 2023

If SKL holds the support level around 200-MA, the long-term moving average of 200 days firmly, buyers will then have ample time and stability to forge the next attack mission on the vital level at $15, making it not plummet but play consistently.

Skale Network (SKL) Price Prediction 2024

As per the latest upgrades, developments, SKL price prediction, and new project forecasts of the platform, SKL investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of SKL in the crypto market, and it will be the best investment as the price can spike and reach around $25.

Skale Network (SKL) Price Prediction 2025

In the next four years, SKL’s price could race up to $50. However, reaching this level could not be so difficult for SKL as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that SKL has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

SKL has a bright future ahead of it in 2021. With the ongoing developments happening within the SKL ecosystem, as well as in the overall crypto market, we may see SKL reach new heights.

Bullish SKL price prediction 2021 is $3. As said above, it may even reach its new ATH if investors have decided that SKL is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.