SKALE, which claims to be the fastest blockchain in the world, attracted attention with a 100 percent increase in the last two days.
One of the most notable projects in the crypto market in recent days has been SKALE Network. SKALE, which aims to scale Ethereum and implies that it is the fastest blockchain in the world, has made its name among the trending projects of the week. SKALE, in particular, stood out with 200 million transactions taking place on the network. On the other hand, MEXC stock exchange also paved the way for the SKALE rise. The stock market increased the SKALE lending yield to 500 percent.
While SKALE’s rise was spectacular, investors showed great interest, thinking that they might have found a new Celestia (TIA). Therefore, SKALE has increased its trading volume sensationally in the last 24 hours.
SKALE chart and data: Will the rise continue?
SKALE became the most profitable cryptocurrency of the day with a sensational rise. It was noteworthy that SKALE increased by 100 percent in the last two days. Additionally, SKALE experienced a 46 percent price increase during the day.
SKALE, which is increasing day by day, attracts the attention of investors. According to CoinMarketCap data, SKALE transaction volume increased by more than 180 percent in the last 24 hours and reached 337 million dollars. Additionally, with its recent rise, SKALE reached a market value of 326 million dollars.
Looking at the SKALE chart, it seems that the price is at an important threshold. The popular cryptocurrency, which has experienced a great rise, has filled the intermediate band. SKALE maintained persistence above the $0.065 resistance. If this region is protected, new rises may emerge for SKALE. SKALE tested the critical resistance point at $0.06923 twice. If this zone is broken on the third, the price can rise to $0.07975. The first serious test of the rise for SKALE will be in the $ 0.07975 region. Purchases from this region and the BTC-driven market remaining positive may continue the rise. If there is a breakout, SKALE will target $0.093. When examined from the current situation, if SKALE reaches its final target of $ 0.093, it will have experienced a 35 percent increase.
On the other hand, SKALE may intensify its decline with the start of profit taking and market conditions turning negative. In SKALE’s decline, the $0.065 support will play an important role. This support point is known as the region where SKALE tested during the day and continued its rise. If $0.065 is lost, SKALE could decline sharply to $0.055. SKALE’s next major support point is seen at $0.04420.
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