Skycoin Price Prediction Today: Daily (SKY) Value Forecast – June 11

Skycoin Obelisk Protocol
  • The SKY market has ended the downward correction as the Skycoin commenced a range bound move at the support of the $1.600 price level.
  • From the chart, if the bulls break above the EMAs, the crypto’s price will rise to retest the $2.30 overhead resistance.

SKY/USD Medium-term Trend: Bearish

  • Resistance Levels: $1.8, $2.0 ¸ $2.2
  • Support levels: $1.4, $1.2, $1.2

Yesterday, June 10, the price of Skycoin was in a range bound move. The SKY market has ended the downward correction as the Skycoin commenceda  range bound move at the support of the $1.600 price level. In retrospect, the SKY market reached the $2.30 overhead resistance on May 31. On June 1, the bulls were resisted and the downward correction continues until price found support at the $1.600 support level, The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.

From the chart, if the bulls break above the EMAs, the crypto’s price will rise to retest the $2.30 overhead resistance. On the hand, if the bulls fail to break above the EMAs, the crypto will continue its range bound move. Meanwhile, the SKY price has reached the oversold region of the daily stochastic but below 20% range. This indicates that price is in a bearish momentum and a sell signal.

SKY/USD Short-term Trend: Bearish

On the 1-hour chart, the SKY price was in a bearish trend. The 12-day EMA and the 26-day EMA are trending southward. On May 31, the bulls were resisted and the market was in downward correction to the low at $1.600. Meanwhile, the SKY price has reached the oversold region of the daily stochastic but below 20% range. This indicates that price is a bearish momentum and a sell signal.

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Author: Azeez M

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