As started in the previous session, the Sky token has continued its upward movement. As of today, the token has registered an additional price increase of 3.74%. Furthermore, the market appears poised for further upside, based on other technical indications.
Sky Statistics
Current Price: $0.06144
Market Capitalization: $1.41B
Circulating Supply: 22.92B
Total Supply: 23.46B
CoinMarketCap Rank: 49
Key Levels
Resistance: $0.06500, $0.06750, $0.07000
Support: $0.06000, $0.05750, $0.05500
Sky Market Continues Its Bullish Path
On the SKY/USDT daily chart, upside forces continue to dominate. Another green price candle has appeared following the previous session’s candle, keeping the market on a bullish path for the second consecutive session. Additionally, recent price candles are positioned above the 9-day Exponential Moving Average (EMA).
At the same time, the Stochastic Relative Strength Index (SRSI) has produced an upward crossover, with its lines moving above the 50 level. This indicates strong bullish momentum and suggests that upward movement may continue.
SKY/USDT Sees a Rejection (4-Hour Chart)
On the shorter 4-hour timeframe, the most recent price candle is red. However, this rejection occurred above the 9-day EMA. The candle itself is relatively small, suggesting that bearish pressure remains weak.
Meanwhile, the SRSI indicator lines have entered the overbought region, with the lead line showing a slight sideways movement. Although a short-term pullback may occur, bulls appear to be targeting the $0.06500 resistance level.
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