SKY up by 12% — Does the price rally have more room to run?
SKY surged 12% in 24 hours, showing potential for further gains. Key indicators support a sustained rally: the funding rate remains moderately positive at 0.0054%, suggesting bullish positioning is not yet excessive. Open Interest increased by 14.25% to $30.24 million, with $4.3 million in fresh inflows, indicating continued capital entering the market. Trading volume rose 106% to $31 million, aligning with the price increase. The perpetual market's long-to-short ratio reached 1.27, reflecting a bullish tilt among traders. Technically, SKY broke through a descending resistance trendline and a key horizontal level. The Accumulation/Distribution indicator shows buying pressure in control, suggesting the price could target higher resistance zones if momentum holds.
ambcryptoAyer 04:28
