SKY/USDT – Symmetrical Triangle Breakout Suggests Strong Upside
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!!
