$SKY is approaching an interesting area on the chart, and the next move could present a good opportunity for bulls.
After pulling back from the $0.100 region, price has been making lower highs and gradually losing momentum. However, the $0.055–$0.059 zone stands out as a key demand area where buyers previously stepped in.
My expectation is a possible retracement into this zone, followed by a bullish reaction if buyers defend it. A successful bounce could push SKY towards $0.075 again.
I’ll be watching how price reacts around support before looking for confirmation.
If the demand zone fails, the bullish setup will need to be reconsidered.
After pulling back from the $0.100 region, price has been making lower highs and gradually losing momentum. However, the $0.055–$0.059 zone stands out as a key demand area where buyers previously stepped in.
My expectation is a possible retracement into this zone, followed by a bullish reaction if buyers defend it. A successful bounce could push SKY towards $0.075 again.
I’ll be watching how price reacts around support before looking for confirmation.
If the demand zone fails, the bullish setup will need to be reconsidered.
