SKALE Price Prediction: Is SKL Ready for a Bullish Breakout?

• 1 The SKALE price slipped 5.18% in the past 24 hours and was at $0.0646 at press time.
• 2 The SKL price bounced back from the recent support, signifying the presence of buyers at the lower levels.

SKALE is a modular blockchain network. It consists of multiple smaller chains that provide security. It is designed to bring scalability to Ethereum. Each of the smaller chains has its own performance and validator set.

SKL uses proof of stake mechanism to secure the network and reward the validators.
Moreover, it is aimed to solve the problems of high gas fees that affect Ethereum and other blockchains.

It provides zero gas fee to the users and also allows developers to create and run applications on their own chains. It tends to have achieved a high speed of up to 2,000 transactions per second per chain, due to which, it is possible to run smart contracts and other Web3 applications.

SKALE Crypto Trend Analysis

The SKALE crypto price is currently hovering near the recent swing high and delivers a positive outlook over the daily chart. The bulls are dominating, which has helped the price to regain momentum after a short drawdown.

Moreover, the long term trend shifted to positive since Mid November, when the price surpassed the 200-day EMA. Also, the positive sentiment in the crypto market dragged the bears on the backfoot and the price experienced a short covering.

Furthermore, the bears attempted to gain control near the round level of $0.07. However, the bulls firmly expressed their presence near the previous breakout zone and 50-day EMA. The price bounced to the recent swing high after testing the support level.

SKALE Price Prediction 2023

Source: SKL/USD by TradingView

The price prediction for 2023 showcases a neutral to bearish outlook in the short term. The most optimistic forecast of the analysts hopes for a maximum upside potential of 16.35%. The SKL token’s price could reach a high of $0.0749 on the most positive side.

Moreover, the average forecast of the analysts expects the price to reach a high of $0.0607 by the end of the year. Whereas, the most pessimistic view of analysts expects the price to drop to $0.0588.

SKALE Price Prediction 2024

As per our analysts, the most optimistic target that the SKL token may achieve is $0.1310. That suggests an upside potential of 104.65% from the CMP. The average analyst price target to be attained is $0.1041 by the end of 2024. However, the pessimistic view of analysts expects the price to reach $0.0920.

SKALE Price Prediction 2025

According to the most optimistic analysts’ projections, the SKL price could reach up to $0.194 in the next three years as its highest value. The price may surpass $0.1658 according to the average forecast of the analysts. The minimum forecasted price by the end of 2025 is $0.1327.

SKALE Price Prediction 2026

The price analysis for the year 2026 shows that the SKL cryptocurrency may achieve $0.2580 as the highest price. The bearish view of the analysts expects the price to reach a low of $0.1871 by 2026.

SKALE Price Prediction 2027

The most bullish analysts foresee a potential value of $0.376 by the year 2027. A minimum price target that the SKL crypto may achieve by 2027 is $0.2677.

SKALE Price Prediction 2028

The price forecast of the SKL crypto shows that it may reach a high of $0.483 by 2028 if the most optimistic condition prevails. By 2028, the analysts’ lowest forecast for the SKALE price is $0.389.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Andrew Smith

Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages ​​and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.

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