SKL Technical Analysis: Selling Spree Fastens Within Falling Channel

SKL price shows a bearish takeover resulting in a consolidation breakout within a falling channel pattern promoting a downfall to $0.057. Key technical points: SKL market value declined by 4.31% in the last 24 hours. The sellers break below the consolidation range. The 24-hour trading volume of Skale Network is $36.48 Million, indicating a rise of 52.7%. Past Performance of SKL SKL prices showcased a bearish takeover after buyers failed to surpass the $0.30 resulting in a falling channel pattern formation. The bearish pattern accounts for a downfall of 77% within the last two months. Moreover, the recent fallout of the consolidation range above $0.077 with a bearish candle of 18%. Source-Tradingview SKL Technical Analysis SKL price breaks under the crucial support level of $0.077 and shows increased chances of continued downfall to reach the $0.057 mark. It is evident by the higher price rejection we see in the daily candles and a potential threat of another bearish candle formation. The MACD indicator shows the fast and lines slow lines on the verge of a bearish crossover supported by the falling trend of histograms. The potential downfall in the MACD lines will reflect a solid underlying bearishness and promote a downfall to $0.057. The Vortex indicator shows the VI lines sharply avoiding a bullish crossover and regaining a bearish alignment. Furthermore, the Stochastic RSI indicator shows a falling trend of the K and D line...