By Luke - Cryptocurrency Broker - 18-01-2022
While cryptocurrency is very volatile and can be hard to predict, there are many analytic tools and experts who can provide a good idea on what to expect. Within this article, the predictions being made are primarily based on technical analysis. This article will be going through potential price predictions to buy SKALE Network’s native crypto token SKL. Surprisingly, SKL has started receiving some hype after experiencing some unexpected price rallies. The recent gains for SKL have caught many investors off-guard as the token is not connected to coin giant coin Bitcoin (BTC) neither was it the most talked about coin prior to its price increases. Currently, many investors that have recently been buying SKL tokens have been hoping the cryptocurrency would soon reach $3. However, is that price goal reachable for SKL?
Many long-term investors and traders may take into consideration the company and technology behind the investment as well as its use within the native system. Looking at the SKALE Network, it is an elastic network functioned to support Ethereum (ETH) by expanding its scalability. The company’s native cryptocurrency, SKL, is currently placing 132nd in market capitalisation on CoinMarketCap, with the current price to purchase and sell SKL at $0.208. Depending on the outlook of the coin, its price could easily go one or two ways.
While taking into consideration that the price has since dropped by nearly 4% in the last 24 hours, the bullish predictions for SKALE range anywhere between $0.5 to $1.25 at most. Whereas the lowest prediction for the cryptocurrency would be $0.175 for 2022. In conclusion, there’s a high chance that SKL may not reach $3 in 2022, but it is considered a good and safe investment with its bullish predictions to at least double in price over the next year.