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!!