SKYCOIN Price Prediction Today: Daily (SKY) Value Forecast – June 28
- The short-term is in the uptrend while the medium-term outlook is in a range-bound market.
- Patience is required trading the consolidation.
SKY/USD Medium-term Trend: Ranging
Supply zones: $2.00, $2.20, $2.40
Demand zones: $1.00, $0.80, $0.60
SKYUSD is in an uptrend in the medium-term outlook. The bulls’ successfully retested the supply area at $2.00 on 22nd and 27th June. The coin rose to $2.10 and $2.15 respectively. Lack of strong pressure to sustain an upward movement was missing hence the close of price within the range.
The coin low of yesterday session was $1.58 with wicks in the candles as it closed bullish.
The bulls sustained the momentum within the range as the market opens $1.69. SKYUSD rose to $1.83 as the bulls journey toward the upper supply area of the range.
Price is above the two EMAs and the signal of the stochastic oscillator points up at 28% suggesting upward price movement in the range.
The cryptocurrency is in consolidation and trading between $2.00 in the upper supply area and at $1.60 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.
SKY/USD Short-term Trend-Bullish
The cryptocurrency is in a bullish trend in the short-term outlook. The bulls mad a returned at $1.57 in the demand area during yesterday session with the bullish spinning top as a signal. The momentum was sustained as the market opens today with price up at $1.81 in the supply area.
The bullish fortress above the two EMAs confirmed the bulls take over as the cryptocurrency rose to $1.85.
The stochastic oscillator signal pointy up at 91% in the overbought region suggesting upward continuation in price of the coin in the short term.
$2.00 is up for a retest as pressure on price becomes much stronger and more candles opened and closed above the two EMAs.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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