The bulls are in control short and medium-term outlook.

Traders may look to buy at pullback areas.

SKY/USD Medium-term Trend: Bullish

Supply zones: $2.00, $2.20, $2.40

Demand zones: $1.00, $0.80, $0.60

SKYUSD is in a bullish trend in the medium-term outlook. With a large bullish candle at $1.07 on 17th July, the bullish momentum has just begun with $1.23 and $1.35 on 17th and 18th July respectively.

Today’s opening price at $1.32 closed a bearish spinning top an indication of bears returned. The cryptocurrency dropped to $1.22 in the demand area. The bulls are back as indicated by the reversal signal at the closed of the 4-hour candle. This area is the 38.2 fib area a trend continuation zone suggesting the resumption of bullish continuation.

Price is within the two EMA with the stochastic oscillator signal parallel at 78% suggesting a brief consolidation before the upward price movement. $1.35 in the supply area is up for a retest and subsequent breakout most probable.

SKY/USD Short-term Trend-Bullish

The cryptocurrency is in an uptrend in the short-term outlook. The lower and upper line of the channel has been good support for the bulls and resistance for the bears. The bears stage a return at the resistance as the market opens today at $1.34.

SKYUSD fell to $1.22 at the lower line of the channel which was strong support for the bulls with the break of the resistance at the two EMAs rise in the cryptocurrency to $1.30.

The stochastic oscillator signal is pointing up at 60% suggesting upward momentum with $1.36 in the upper line a target.

Live Skycoin (SKY) Price: 1 SKY/USD = $0.5196 change ~ 2.75% Coin Market Cap $9.5 Million 24 Hour Volume $67.55 K 24 Hour VWAP $0 24 Hour Change $0.0143

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.