SKY/USD Medium-term Trend: Ranging
Resistance Levels: $1.8, $2.0 ¸ $2.2
Support levels: $1.4, $1.2, $1.2
Yesterday, July 24, price of SKY was ranging below the lower price range . On the upside, if the bulls break above the EMAs, the crypto’s price will be in the range bound zone. On the other hand , if the bulls fail to break above the EMAs, the crypto’s price will range below the lower price range.
Meanwhile,the coin is fluctuating between the levels of $1.40 and $2.00. Nevertheless, the coin was characterized by small body candlesticks like the Doji and the Spinning tops which describe the indecision between the buyers and sellers. Meanwhile, the SKY price has reached the overbought region of the daily stochastic but above 40% range. This indicates that price is a bullish momentum and a buy signal.
SKY/USD Short-term Trend: Ranging
On the 1-hour chart, the SKY price was in a sideways trend. The 12-day EMA and the 26-day EMA are trending . However, the crypto’s price is characterized by small body candlestick like the Doji and Spinning tops which described the indecision between the buyers and sellers at the current market price. The price will continue to range below the EMAs as long as the small body candlestick dominate the chart.
Meanwhile, the SKY price has reached the oversold region of the daily stochastic but abov2 80% range. This indicates that price is a bullish momentum and a buy signal.
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