A popular crypto analyst has recently changed his stance on a low-cap Ethereum-based altcoin project, expressing newfound optimism. Michaël van de Poppe, a crypto strategist with a large following on the social media platform X, has informed his 719,400 followers that Skale Network (SKL), an Ethereum sidechain, has the potential to surge by 150% from its current value. According to van de Poppe, SKL is currently in a favorable position and could experience a significant breakout that may lead to a price of $0.20 in the coming months. By analyzing a chart, the trader predicts that SKL will surpass the key resistance level of $0.09 and will soon be supported at that level. Additionally, he utilizes Fibonacci extensions, a tool in technical analysis, to estimate a substantial breakout price target of $0.20. SKL is currently trading at $0.080, with a decline of nearly 5% in the last 24 hours. The Skale Network’s objective is to develop a gas-less Ethereum Virtual Machine (EVM)-compatible blockchain for Ethereum scaling. Unlike traditional transaction fee models, SKALE generates fees by charging developers for operating a SKALE chain instead of charging end users. In Q1 2024, the Skale Network reportedly reached 10 million unique active wallets (UAWs) and saved users over $3.8 billion in gas fees.