The short and medium-term outlook is in a bullish trend.

Responsible buying may be considered.

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 the uptrend in the medium-term outlook. The bears were in control of the market since 1st June. The strong pressure led to a drop in price from $2.46 in the supply area down to $1.55 in the demand area on 6th June. The 10-EMA was a strong resistance as price failed to break it.

The loss in momentum on 6th June returned the bulls. With more buyers taking a position as the market opens today 7th June, the 10-EMA was broken and SKYUSD rose to $1.75.

The bullish momentum may increase in the medium-term as confirmed by the signal of the stochastic oscillator pointing up at 82%

$1.90 in the supply area may be attained which is the 38.2 fib area, a trend continuation zone before bears possible return.

SKY/USD Short-term Trend- Bullish

The cryptocurrency is in a bullish trend in the short-term outlook. Today’s 1-hour opening candle at $1.60 confirm the trend of the day breaking the 10-EMA. Increased momentum pushed price up to $1.70 in the supply area before the first bullish flag formation.

Price rose to $1.74 after correction before the second flag formation.

New high at $1.80 in the supply area may be retested due to the signal of the stochastic oscillator which suggests upward momentum in price in the short-term.

Live Skycoin (SKY) Price: 1 SKY/USD = $0.4940 change ~ 3.00% Coin Market Cap $9.03 Million 24 Hour Volume $76.26 K 24 Hour VWAP $0 24 Hour Change $0.0148

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