SKYAI has now confirmed the bearish setup discussed previously.
Price faced repeated rejection near the upper resistance zone and has now broken below the rising trendline support, validating the rising wedge breakdown scenario.
Technical Update:
Upper resistance held firmly
Breakdown below ascending support confirmed weakness
Momentum shifted bearish after loss of structure
First downside targets already reacting as expected
Key Levels:
Resistance: 0.72
Immediate Support: 0.60
Major Support: 0.52
Outlook:
As long as price remains below the broken trendline and under the 0.72 resistance zone, downside pressure remains dominant.
A weak bounce into resistance may continue acting as a sell-on-rise opportunity unless structure is reclaimed.
NFA | DYOR
Price faced repeated rejection near the upper resistance zone and has now broken below the rising trendline support, validating the rising wedge breakdown scenario.
Technical Update:
Upper resistance held firmly
Breakdown below ascending support confirmed weakness
Momentum shifted bearish after loss of structure
First downside targets already reacting as expected
Key Levels:
Resistance: 0.72
Immediate Support: 0.60
Major Support: 0.52
Outlook:
As long as price remains below the broken trendline and under the 0.72 resistance zone, downside pressure remains dominant.
A weak bounce into resistance may continue acting as a sell-on-rise opportunity unless structure is reclaimed.
NFA | DYOR
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