SKL Price Testing Crucial Levels, May Slide Down Below INR 3!

Skale Network (SKL) Price Prediction

Key Takeaways: 

  • The Skale Network (SKL) value closed the day gone by’s commerce at INR 4.52 with a market capitalization of INR 16.13 billion and a circulating provide of 3.53 billion SKL
  • The SKL value after an enormous drop of 40% goals at an equal rebound and regain the misplaced ranges above INR 5 on the earliest
  • While the bears nonetheless seem like lively, the descending development might once more trigger one other drop of almost 15% to 20% till the weekend

Skale Network Price Analysis:  Will SKL Price Hit INR 10 This Week of June?

The starting of the yr and particularly the beginning of May’s commerce was extraordinarily bearish for the Skale Network as the costs slashed by almost 60%. Since the start of June, it appeared that the costs might rise slowly however the Celsius Network disaster dragged the value decrease by one other 40%. Currently, among the bulls seem to have stepped in however the bear nonetheless maintains a big dominance.

The SKL value has rebounded from the lows under INR 3.5, however the momentum remains to be bearish. Therefore, the potential of the bears outperforming the bulls could also be anticipated any time from now. Hence, the descending consolidation is anticipated to proceed all through the week because the asset seems to be primed to revisit decrease help under INR 4 once more.

Skale Network Price Prediction: SKL Price Trend Comparison with DOT (Last 30 Days)

Source: Tradingview

  • Skale Network & Polkadot are thought-about the powerful opponents within the crypto area together with Solana
  • The starting of the yr 2022 was fairly bearish for each the tokens which had been later fueled by a few occasions just like the LUNA-UST and Celsius Network disaster
  • Currently, each the property are trying to stabilize the descending development to a big extent with a powerful rebound 
  • The SKL value after consolidating under -45% for a month dropped right down to -70% and at present buying and selling at -63.19%
  • On the opposite hand, DOT value additionally displayed an identical development and dropped to -62.23% from -40% and presently buying and selling at -56.92%

Correlation of SKL/USDT and SKL/BTC (Last 30 Days)

Source: Tradingview

  • Skale Network after witnessing a drastic drop in each the buying and selling pairs is trying to flip from the bearish development
  • The month-long consolidation seems to have mounted some energy and therefore the current market crash couldn’t squeeze out big features
  • Also, the bulls seem to have stepped in as important shopping for quantity even have been collected of-let
  • The SKL/USDT pair consolidated between -45% and -62% for a very long time and dropped to -70% and at present flipped barely to commerce at -63.37%
  • The SKL/BTC pair additionally maintained a slim development for a protracted between -29% and -50% and now rebounded to realize -34.12%.

Top Gainers & Losers of the Week

Top Gainers

Crypto Price* 7-Day Percentage Change
Uma(UMA) INR 227.83 -9.5%
Helium (HNT) INR 810.31 -6%
Skale Network(SKL) INR 5.05 -12.6%
Kyber Network(KNC) INR 119.95 -24%

Top Losers

Crypto Price* 7-Day Percentage Change
Flamingo Finance(FLM) INR 9.82 +17.8%
Monero (XMR) INR 9,533.3 -39.92%
Tron (TRX) INR 4.63 -33.15%
Gala (GALA) INR 5 -25.04%

*Prices are of 15 June 2022 at 10 am

What’s New on CoinDCX? New Coin Listings on CoinDCX App

Crypto Price*
Band Protocol (BAND) INR 114.84
SKALE Network (SKL) INR 5.08
Moonbeam (GLMR) INR 70.68
Livepeer (LPT) INR 655.65

*Prices are of 15 June 2022 at 10 am

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Disclaimer: Crypto merchandise and NFTs are unregulated and will be extremely dangerous. There could also be no regulatory recourse for any loss from such transactions. In case you will have any queries, write to [email protected].

The above info characterize the impartial views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & instructional functions solely. The content material, info or information supplied above just isn’t a suggestion, or solicitation of a suggestion, to put money into, or to purchase or promote any curiosity or shares, digital digital property/ crypto merchandise or securities, or to take part in any funding or buying and selling technique. Any assertion or communication made above shall not be handled as a authorized, monetary, funding or tax recommendation by the reader. The calculations, information, risk-return formulations, efficiency or market capitalization indicators captured above are primarily based on the impartial information sourcing together with collation of public info and/or evaluation carried out by analysts, advisors or workers of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate firms and/or any third occasion. Past efficiency just isn’t indicative of any future outcomes. The reader(s) are hereby suggested to seek the advice of their monetary/ authorized/ tax advisor(s) earlier than making any funding.


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