Skycoin Current Analysis

Skycoin has been releasing a lot of content lately. It has also shown up as one of the most active blockchain projects on github. This week you will see a lot of the focus shifting to the July 28 IEO listing of Coin Hours (CH). The bigger story is that CH are getting ready to be traded to establish a value. When mainnet is deployed, the roadmap indicates the incentive structure of the skywire network will shift from Sky to CH. Thus establishing a baseline value is part of the process that that would set things up for the deployment of more updates to the skywire network.

The TA on this chart is mainly based on specific areas of support and resistance. The pitchfan is set against the two lowest points in the last 6 months and the peak of the recent top. It has been crazy to watch as the team has put out numerous updates since that high point only to see the traders who bought in around $2 sell off during the market pullback.

There are two important points of resistance around 2.25 and 3.14. As well, I am watching the .25 range (orange highlighted line) in the pitchfan as it creates several points of trend line resistance on the chart.

There is a volume control point around 1.6-7. If the price moves in that direction, this is an area that is likely to see consolidation before the next move.

Reference:
twitter.com/Skycoinproject
www.skycoin.net/blog...ty-update-june-2019/
www.skycoin.net/blog...t-update-week-27-28/

Comment:

Skycoin has updated the status of the upcoming listing here:
twitter.com/skycoinp.../1154801217257668608