• The coin is fluctuating between the levels of $1.40 and $2.00.
• The SKY/USD pair is in choppy price action.

SKY/USD Medium-term Trend: Ranging

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

Yesterday, July 8, the price of Skycoin was in a sideways trend. There had been no significant price movement in the last 24 hours. The coin is fluctuating between the levels of $1.40 and $2.00. On June 21, the bulls made an upward move but were resisted at the $2.00 price level.

The moving averages are horizontally flat indicating that the price is in a sideways trend. 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. The SKY/USD pair is in choppy price action.

The support and resistance levels of the crypto cannot be determined. In a tight range move, a bullish or bearish break is imminent. Meanwhile, the SKY price has reached the oversold 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 moving averages are trending horizontally. The price of Skycoin is in choppy price action. The support and the resistance level are not evenly apart thus making trade analysis complex.

Meanwhile, the SKY price has reached the oversold region of the daily stochastic but above 60% range. This indicates that price is a bearish momentum and a sell 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.