• The SKY/USD pair is in choppy price action.
• SKY market had a downward correction to a low at $1.62.

SKY/USD Medium-term Trend: Ranging

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

Yesterday, June 19, the price of Skycoin was in a sideways trend. The 12-day EMA and the 26-day EMA are horizontally flat indicating that the crypto’s price is in a sideways trend. There had been no significant price movement. On May 31, the coin reached a high of $2.30 but was resisted. SKY market had a downward correction to a low at $1.62.

At the $1.62 support level, the crypto commenced its range bound move. 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 12-day EMA and the 26-day EMA are trending horizontally. The crypto's price was fluctuating below and above the EMAs. The price of Skycoin is in choppy price action.

The support and the resistance level are not evenly apart thus making trade analysis complex. On June 18, the bulls have price spike which was corrected by the bears. Meanwhile, the SKY price has reached the oversold region of the daily stochastic but above 20% range. This indicates that price is a bearish momentum and a sell signal.

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