Date: June 11, 2025
SKY/USDT has successfully broken out of a long-term symmetrical triangle pattern, signaling a potential bullish continuation. The breakout is backed by increasing volume and rising RSI, pointing to growing momentum.
📊 Technical Overview:
Current Price: $0.08954
Breakout Zone: ~$0.08500
Key Support Levels:
$0.06250 (previous consolidation base)
$0.04152 (major demand zone)
Resistance/Target Zones:
$0.14880 (intermediate target)
$0.15840 (historical resistance)
$0.17102 (macro resistance)
📈 Indicators:
RSI: 71.16 – entering overbought territory, confirming bullish momentum.
Moving Averages: All key EMAs (4, 50, 100, 200) are aligned to the upside, showing a clear trend reversal and strong price structure.
📉 Volume:
Volume has begun to increase significantly at the breakout point, adding validity to the move.
🔍 Chart Structure:
Price has broken above a converging resistance trendline after months of consolidation.
The ascending triangle base suggests a sustained accumulation phase.
A classic bullish breakout setup with well-defined measured move targets.
🎯 Upside Projections:
Short-Term Target: $0.14880
Mid-Term Target: $0.15840
Extended Target: $0.17102
📉 Invalidation:
A drop back below $0.085 and particularly below $0.06250 would invalidate this bullish breakout and indicate a false breakout.
Good trading!!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.