The SKALE Network has seen a downtrend on the daily chart since early April 2024, with prices dropping from a supply level and forming new lows. Prior to March 2024, the price had displayed a strong upward trend, surging nearly 600% from the $0.0200 support zone since October 2023.

Despite the downward movement, the SKALE Network has established multiple partnerships, signaling its growth. It aims to position itself as one of the fastest blockchains, offering perpetual zero gas fees. These collaborations have the potential to spark a price recovery in the near future.

SKALE Network's Recent Collaborations Unveiled

The collaboration between WorkoutApp and SKALE marks a significant achievement in the fitness-tech sector. WorkoutApp announced their intention to provide technology ensuring zero gas fees and instant transaction finality. This partnership not only strengthens their ties with key players in the crypto industry but also paves the way for new alliances.

Moreover, SKALE Network revealed a partnership with Unipolygames on May 15th to introduce gas-free gaming to a wider audience. By leveraging SKALE's gas-free framework and seamless blockchain experience, Unipolygames aims to elevate their gaming offerings.

Prospects of SKALE's Resurgence

SKALE's cryptocurrency has shown a modest 1.79% increase in the past 24 hours, trading at $0.0681 currently. While technical indicators lean bearish, a slight bullish signal has emerged in the MACD, hinting at a potential upward movement. With the RSI hovering around 30, there is a possibility of a reversal in the current trend.

If demand for SKALE rises, a bounce from the current level could propel the price towards targets of $0.0800 and $0.1000. Conversely, failure to sustain above $0.0650 may lead to further declines.

Noteworthy Surge in Active Wallet Addresses for SKALE

Active addresses represent unique users engaging in transactions with the SKALE token within a specific timeframe. Over the past 7 days, 726 distinct addresses participated in SKALE token transfers, marking a resurgence after a two-month decline. This uptick in active addresses signifies growing usage and trading activity, indicating rising demand and value for the token.

In conclusion, despite the recent bearish trend, the SKALE Network's collaborations with WorkoutApp and Unipolygames demonstrate its progress. The cryptocurrency's potential rebound is supported by recent partnerships and an increase in active addresses, suggesting a positive outlook for SKALE's price trajectory.