SKYCOIN Price Prediction Today: Daily (SKY) Value Forecast – June 14
- The short and medium-term outlook is in the downtrend.
- Traders may consider selling at pullback areas after bearish reversal candlesticks formation.
SKY/USD Medium-term Trend: Bearish
Supply zones: $2.00, $2.20, $2.40
Demand zones: $1.00, $0.80, $0.60
SKYUSD is in a downtrend in the medium-term outlook. The rejection at $1.88 in the supply area on 8th June denoted by wick in the inverted candle suggests bullish exhaustion. The cryptocurrency has been on a free fall with minor pullback as correction and to confirm the bearish continuation.
Price was up briefly at $1.72 around the trendline and closed as a spinning top during yesterday session. The next candle a bearish confirming the bears are back in the market as price drop to $1.55 before the end of the session.
The bears continue the downward movement from the bounce off the trendline after a minor pullback. SKYUSD fell to $1.46 in the demand area.
The journey to $1.40 in on with the signal of the stochastic oscillator pointing down at 26%.
SKY/USD Short-term Trend-Bearish
The cryptocurrency is in a bearish trend in the short-term outlook. The coin has been in consolidation from 10th June. The bears' pressure was dominant as the market closes yesterday. The momentum was with sustained with a break at $1.5975 in the key demand area.
Minor retracement to $1.67 by the bulls but a further movement was rejected by the resistance at the 50-EMA. The key demand area was broken with a large bearish candle as the coin fell initially to $1.52 and later to $1.40 in the demand area.
A minor pullback by the bulls may occur but the bears remained in control of the market in the short-term.
Live Skycoin (SKY) Price:
1 SKY/USD =$1.3449 change ~ -4.40%
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