SKYCOIN Price Prediction Today: Daily (SKY) Value Forecast – June 7
- The short and medium-term outlook is in a bullish trend.
- Responsible buying may be considered.
SKY/USD Medium-term Trend: Bullish
Supply zones: $2.00, $2.20, $2.40
Demand zones: $1.00, $0.80, $0.60
SKYUSD is in the uptrend in the medium-term outlook. The bears were in control of the market since 1st June. The strong pressure led to a drop in price from $2.46 in the supply area down to $1.55 in the demand area on 6th June. The 10-EMA was a strong resistance as price failed to break it.
The loss in momentum on 6th June returned the bulls. With more buyers taking a position as the market opens today 7th June, the 10-EMA was broken and SKYUSD rose to $1.75.
The bullish momentum may increase in the medium-term as confirmed by the signal of the stochastic oscillator pointing up at 82%
$1.90 in the supply area may be attained which is the 38.2 fib area, a trend continuation zone before bears possible return.
SKY/USD Short-term Trend- Bullish
The cryptocurrency is in a bullish trend in the short-term outlook. Today’s 1-hour opening candle at $1.60 confirm the trend of the day breaking the 10-EMA. Increased momentum pushed price up to $1.70 in the supply area before the first bullish flag formation.
Price rose to $1.74 after correction before the second flag formation.
New high at $1.80 in the supply area may be retested due to the signal of the stochastic oscillator which suggests upward momentum in price in the short-term.
Live Skycoin (SKY) Price:
1 SKY/USD =$2.3917 change ~ -6.42%
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.