Price is inside a bullish ascending wedge.
Volume is rising.
Historic volatility funnel is telling that liquidity is coming back big time.
In my view we are approaching a big break out !!
Since my last post where I gave an "immaculate entry point" at 76 cents, SkyCoin has been one of my top performers:
SKY is up 103 % in 18 trading days !!
After a false breakdown from the bullish wedge it has hit support and made a powerful "around-the-apex" move !!
Right now it is battling with some resistance at 1.52 - 1.54....
But it could very well break...
SkyCoin is an extremely underrated project !! Actually rank 729 on CoinMarketCap and 17 Million MC.
It has several working products and their team has never stopped working during the entire bear market from 2018 until 2021 !!
Go have a look at their website: SkyCoin platform, SkyWire decentralized internet, Obelisk new consensus algorithm, Fiber peer-chain...
💎Technical Analysis Summary💎
BINANCE: SKYBTC
-Skycoin broke the weekly key level of support
-The price is starting to go lower while BTC is going higher
-Technically, this is bearish because the new Lower Low is made
-Since there is no logical support to be found
-Price discovery will occur and longer consolidation is expected
-So if you have a position please...
SKY/BTC
-Cross Ultimate indicator flashes Buy signal priority last July 10
-the price has increased over 80% returns
-there are two best entries highlighted on the chart
-assuming this is the temporary top price today
-immediate areas to watch is between 0.236-0.382 fib support
-wait for the price to consolidate and give bullish sign reversal
-please do not enter blindly
SKY/BTC
-the price reached the swing low support area
-if this is another potential bounce up
-we might see a retest of the trendline resistance again
-if a break of resistance is happening
-trend change and target the upside up to 7700s
-enter a Buy order once a line resistance is broken
SKY/BTC
SKY broke bullish of this descending trend-line resistance but immediately rejected by the 200D MA.
Though rejection is seen on key resistance areas, Bulls still has the chance to prove this breakout is real and has more room for growth in the coming weeks.
Key areas must hold is between 6000 - 5000 sats to keep the uptrend momentum in good control.
Pair: SKY/BTC
Exchange: Binance
Trade Duration: Medium
Risk: Low
Signal Strength: High
Introduction
Created 6 years ago by original contributors to Bitcoin and Ethereum, Skycoin is a 3rd-generation cryptocurrency platform that anchors a revolutionary blockchain ecosystem. At the core of the Skycoin ecosystem is a novel consensus mechanism called...
Looking to break up from the wedge. The skybtc chart is at resistance as well. Both signaling a potential move up if it can break resistance we are at now.
SKY now are holding his support and we see a few bullish sign here.Macd it s oversold and it s still curbate up and also macd bear volume decrease.NICE Stoch Bullcross and RSI growing.We don t have ichimoku resistance at 1D timeframe so in my opinion this coin can grow from here. Targets 503-530-552-578-597
Skycoin was hit with some bad news within it's own management and production. There was a rumour being spread that they were manipulating the price in order for devs to sell off skycoin and become rich.
However, we all know that a lot of people don't do research on coins before investing as long as they know the price is going on.
This is a risky trade but has...
Tightness of consolidation and well defined structure + demand pressure in blue suggests an imminent breakout in Skycoin. Measured against Ether it'll likely be the stronger in the coming hours/days/maybe week(s).
