SKLUSDT looking bullish above breakout

BYBIT:SKLUSDT.P   SKLUSDT Perpetual Contract
SKLUSDT refers to the trading pair between SKALE Network's native token (SKL) and the stablecoin Tether (USDT) on a cryptocurrency exchange. SKALE Network is a blockchain platform that aims to provide high-performance decentralized applications (dApps) and smart contracts. The SKL token is used within the SKALE Network for various purposes such as staking, payments for network services, and governance.

Trading pairs like SKLUSDT allow users to trade SKL tokens directly for USDT, providing liquidity and facilitating price discovery on exchanges that support this pair. Investors and traders can use this pair to speculate on the price of SKL relative to the stability of USDT or to hedge their positions.

Technical Analysis:
1. Backtesting within the last 7 days and 30 days shows that there are no specific patterns observed in the MACD, RSI, BOLL, and KDJ indicators. This indicates a lack of clear trend or momentum signals during these periods.

Fundamental Analysis:
1. SKALE (SKL) is a cryptocurrency launched in 2020 and operates on the Ethereum platform.
2. The current supply of SKL is 5,447,166,667 tokens, with 5,156,686,004 tokens in circulation.
3. The market capitalization of SKL is $419,969,192.29.
4. The current price of SKL is $0.08106, with a 24-hour price change of +1.41% and a 7-day price change of +13.1%.
5. The trading volume in the last 24 hours is $396,604.08.
6. The BOLL support price is $0.07864, and the BOLL resistance price is $0.08417.

Market Sentiment:
The Market Sentiment Index is at 74, indicating "Greed" sentiment.

Based on the technical analysis, there are no specific patterns observed in the indicators within the last 7 days and 30 days. Therefore, it is difficult to determine a clear trend or direction for SKLUSDT.

Considering the fundamental analysis, SKL has a relatively low market capitalization and trading volume. The recent price change has been positive, indicating some potential interest in the token.

It is important to note that the provided data does not include specific news content. Therefore, it is recommended to gather additional news and information about SKL from reliable sources to make a more informed decision.

Risk Disclosure: Predictions are for reference only, not investment advice. Investing involves risks; please make decisions cautiously.


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