Ethereum

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 <p>A widely followed crypto analyst is suddenly turning bullish on one low-cap Ethereum (ETH)-based altcoin project.</p>
 <p>Crypto strategist Michaël van de Poppe tells his 719,400 followers on the social media platform X that Skale Network (SKL), an Ethereum sidechain, could soar 150% from its current value.</p>
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 <p><em>“SKL is looking great. Did reject at the first resistance zone, but is on edge of a significant breakout. This breakout is likely heading to $0.20 in the coming months.”</em></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GO6MiO9XAAAehkI?format=png&amp;name=4096x4096" alt="Image" width="2257" height="1220">
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   Source: Michaël van de Poppe/X
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 <p>Looking at his chart, the trader is predicting SKL will soon flip the key resistance level of $0.09 into support.</p>
 <p>He also uses Fibonacci extensions to predict the massive breakout price target of $0.20. Fibonacci extensions are used in technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> to estimate profit targets and price pullbacks. They are based on Fibonacci ratios.</p>
 <p>SKL is trading for $0.080 at time of writing, down nearly 5% in the last 24 hours.</p>
 <p>The Skale Network aims to create a gas-less Ethereum Virtual Machine (EVM)-compatible blockchain for Ethereum scaling. Instead of charging end users transaction fees, SKALE generates fees by charging developers a fee for operating a SKALE chain.</p>
 <p>According to the project developers, the Skale Network reached 10 million unique active wallets (UAWs) in Q1 2024 and saved users over $3.8 Billion in gas fees.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/this-low-cap-ethereum-based-altcoin-is-primed-to-explode-150-over-the-coming-months-says-micha-l-van-de-poppe-tbt90779.html">https://thebittimes.com/this-low-cap-ethereum-based-altcoin-is-primed-to-explode-150-over-the-coming-months-says-micha-l-van-de-poppe-tbt90779.html</a></p>

This Low-Cap Ethereum-Based Altcoin Is Primed To Explode 150% Over the Coming Months, Says Michaël van de Poppe

TheBitTimes

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