• The coin is fluctuating between the levels of $1.40 and $2.00.
• The price of Skycoin is in a bullish trend as the bulls broke above the EMAs.

SKY/USD Medium-term Trend: Ranging

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

Yesterday, July 15, the price of Skycoin was in a bearish trend. The bears have broken out the range to test the lower price range. On July 11, the  bears broke the lower price range and reached the low of $1.1145. The market has reached the previous low and also reached the oversold region . Buyers  are expected to emerge .Traders are to lookout for buy set up in order to initiate long trades. 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 oversold region of the daily stochastic but above 20% range. This indicates that price is a bullish momentum and a buy signal.

SKY/USD Short-term Trend: Bullish

On the 1-hour chart, the SKY price was in a bullish trend. The 12-day EMA and the 26-day EMA are trending upward after a downward slope. The price of Skycoin is in a bullish trend as the bulls broke above the EMAs. Meanwhile, the SKY price has reached the overbought region of the daily stochastic but above 80% range. This indicates that price is a bullish momentum and a buy signal.

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