SKALE Surges 65% as Key Resistance Broken Amid Bullish Technical Outlook

SKALE (SKL) has shown a significant bullish turnaround in early August, breaking out from a prolonged downtrend and reclaiming key price levels. The token surged past multi-month resistance in the $0.025–$0.030 range, with the current price trading near $0.042 after reaching as high as $0.0515 [1]. This movement has triggered a critical technical shift, with SKL breaching the 0.5 Fibonacci retracement level at $0.0509, a key level that suggests a potential reversal in bearish sentiment [1].

Technically, SKL is now above all major exponential moving averages (EMAs), including 20, 50, 100, and 200, which have now flipped into support levels. The Bollinger Band has also expanded after a long period of tight consolidation, indicating a breakout in volatility [1]. Currently, SKL is above the upper Bollinger Band, a sign of strong bullish momentum. However, overbought conditions are present, with the RSI at 72.19, suggesting potential short-term corrections [1].

Support levels at $0.0394 and $0.0320 are critical for maintaining the uptrend [1]. A sustained close above $0.0509 could open the path to the 0.618 Fibonacci level at $0.0592, a target expected as early as 2025 [1]. Looking ahead, SKL’s price projection for 2025–2030 outlines a gradual increase, with a maximum price of $0.129 projected for 2030. This would represent a substantial gain from its current level of approximately $0.042 [1].

The price forecast suggests a $0.0450 average in 2025, with a ceiling of $0.0590. By 2026, the average is expected to rise to $0.0520, and by 2027 to $0.0600. The trajectory continues upward, reaching an average of $0.0720 by 2028 and $0.0900 in 2029 before settling at $0.1050 in 2030 [1]. These forecasts are based on technical indicators such as Fibonacci retracements and EMA alignment, rather than fundamental or analyst-driven predictions.

The technical setup supports a long-term bullish case, with the MACD in bullish alignment and a widening histogram confirming strong accumulation. The convergence of EMAs in support further reinforces the positive trend. However, traders should remain cautious as overbought conditions may lead to short-term corrections. Sustaining above $0.039–$0.045 is crucial to maintaining the broader bullish narrative [1].

SKL’s ability to hold these support levels will determine whether the current rally continues toward $0.129 by 2030. With a clear path defined by technical indicators and key Fibonacci levels, the long-term outlook for SKALE remains constructive.

Source: [1] SKALE (SKL) Price Prediction 2025–2030: Can SKL Hit $0.129 Soon? (https://coinmarketcap.com/community/articles/68a195576d058730d438945f/)