SKALE, known as the world’s fastest blockchain, has attracted attention with a 100% increase in the past two days.
One of the most high-profile projects in the cryptocurrency market in recent days is the SKALE Network. SKALE, which aims to scale Ethereum and hints at being the world’s fastest blockchain, has emerged as one of the week’s top projects. SKALE in particular stands out, with 200 million transactions taking place online. On the other hand, the MEXC stock exchange also paved the way for the rise of SKALE. The stock market increased SKALE loan yields to 500%.
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While SKALE’s rise has been impressive, investors have shown significant interest, thinking they may have found a new Celestia (TIA). As a result, SKALE has seen a significant increase in trading volume over the past 24 hours.
SKALE Charts & Data: Will the Rise Continue?
SKALE’s gains were staggering, becoming the highest-grossing cryptocurrency of the day. It is worth noting that SKALE has grown 100% in the past two days. Additionally, SKALE’s price increased by 46% on the day.
SKALE, which is growing day by day, has attracted the attention of investors. According to CoinMarketCap data, SKALE trading volume has grown by more than 180% in the past 24 hours, reaching $337 million. Additionally, with the recent gains, SKALE’s market capitalization has reached $326 million.
Looking at the SKALE chart, the price appears to be at an important threshold. The popular cryptocurrency has experienced a huge rally and has filled the mid-range. SKALE remains above the $0.065 resistance. If this area is protected, SKALE could see a new rise. SKALE tested the key resistance at $0.06923 twice. If this area is broken for the third time, the price may rise towards $0.07975. The first serious test for SKALE’s rise will be at the $0.07975 area. Buying volumes from the region and the Bitcoin-driven market remain optimistic that they may continue to grow. If a breakout occurs, SKALE’s price target will be $0.093. Judging from the current situation, if SKALE reaches the final target of $0.093, the increase will reach 35%.
On the other hand, SKALE could intensify the decline as profit-taking begins and market conditions turn negative. The $0.065 support will play an important role in the decline of SKALE. This support point is known as the area where SKALE tested and continued to rise during the day. A loss of $0.065 could see SKALE drop significantly to $0.055. The next major support level for SKALE is $0.04420.
Information source: 0x information compiled from COINKOLIK.All rights reserved. No reproduction without permission.
0XSimplified Chinese version:SKALE disrupts the market balance