Home
News
- 1 Skill price is trading below the key moving averages showcasing bearishness.
- 2 Cryptoblade indicators are pointing toward the downside.
SKILL crypto has been in a downtrend for the past few days, forming lower lows patterns, and facing resistance from the upper resistance levels, which prevented it from breaking out of the trend.
The price action indicates that SKILL crypto has been under selling pressure, and the buyers have been passive. On the other hand, the sellers have a strong advantage and continue to make short positions.
SKILL crypto is currently trading above the 200-Day SMA, which does not support the price trend. However, the price could break below these SMAs and move lower if selling pressure increases.
CryptoBlades is a digital NFT game hosted on the Binance Smart Chain network. Accessible through its dedicated website, the game invites players to engage in combat using formidable weapons to earn SKILL tokens. These tokens are integral for character progression and equipment enhancement.
The game’s development trajectory includes the launch of an NFT marketplace, further enriching the utility of SKILL tokens by enabling players to sell their crafted items. The overarching goal of the CryptoBlades creators is to empower players with ownership over their in-game assets, incentivize participation through a play-to-earn model, and foster broader acceptance of blockchain technology.
CryptoBlades is committed to delivering an entertaining and rewarding gaming environment that nurtures a vibrant and engaged blockchain gaming community.
SKILL Cryto Price Technical Analysis
SKILl by writer12_gsm on TradingView.com
The RSI indicator is currently at 49.14, which is in the neutral zone. However, the 14-day SMA is above the RSI curve, which is a bearish signal.
The MACD indicator is also bearish, with the MACD line crossing below the signal line. It indicates that the SKILL crypto is likely to continue to fall shortly.
The price currently needs significant support from the buyers to make a comeback as it is facing major resistance from the previous resistance points and multiple moving average levels. Buyers are taking control of the price movement, according to the candlestick patterns.
Technical Analysis In a Short Time Frame
skill by writer12_gsm on TradingView.com
The CryptoBlades crypto price is in the bearish region and has been displaying bearish moves for the past sessions. Moreover, the cryptocurrency is struggling to maintain gains above the key moving averages and is heading in a downward direction. The crypto has declined over 21% this month, demonstrating the bearishness in recent sessions.
At press time, the CryptoBlades crypto price was trading at $0.8156 with an intraday loss of 0.67%, indicating bearishness on the charts. It has a monthly negative return of 11.78% yearly. It has a market cap of $760,244. Analysts are bearish and suggest the price will attain lower levels in upcoming sessions.
Summary
The SKILL token, associated with the CryptoBlades game, is currently exhibiting a bearish trend, trading below key moving averages and facing resistance that hinders any upward movement. Technical indicators like the RSI and MACD suggest a continuation of this downtrend. Despite the game’s innovative play-to-earn model and upcoming NFT marketplace, the SKILL token’s price struggles to find strong buyer support to counteract the selling pressure. Currently, the token is trading at $0.8156 with a market cap of $760,244. Technical analysis indicates potential support levels at $0.5845 and $0.7332, with resistance at $1.00 and $1.1776.
Technical Levels
Support Levels: $0.5845 and $0.7332
Resistance Levels: $1.00 and $1.1776
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
