Bears Circle SKY: Will Momentum Tip Further to the Downside?

TheNewsCryptoPublished on 2026-02-11Last updated on 2026-02-11

Abstract

The cryptocurrency market continues its bearish trend, with most tokens, including SKY, experiencing losses. SKY has declined by 6.73% in the past 24 hours, trading around $0.06461 after reaching a high of $0.07041. Its trading volume also dropped significantly by 47.57%. Technical analysis suggests a potential further decline toward the $0.06012 support level, with a risk of falling below $0.05640 if bearish pressure continues. A reversal could push the price toward $0.06853 or higher to $0.07275. Indicators show mixed signals: MACD suggests short-term bearishness, while Chaikin Money Flow indicates moderate buying pressure. The RSI at 39.64 shows weak momentum with a slight bearish tilt, and Bull Bear Power suggests near-equilibrium market conditions.

The fearful red market continues as expected, with the crypto prices losing momentum, revisiting former lows. A very few tokens are charted in green, but whether that trend carries over or joins the existing line is the concern. Meanwhile, SKY has registered a 6.73% loss within the last 24 hours.

The token traded at a high of $0.07041 in the early hours, and with the bearish control in the SKY market, the price has slipped to a low of $0.06423. At press time, the asset traded at around $0.06461 with a market cap of $1.48 billion. Additionally, the trading volume of SKY has plummeted by 47.57% to $24.7 million.

On the 4-hour trading chart, the SKY price could fall toward the support at the $0.06012 range. Assuming the downside correction is reinforced, it might trigger the formation of the death cross, and the bears take the asset’s price to retrace, trading below $0.05640.

Upon a momentum reversal of SKY, it might nullify the recent losses. The price is expected to rise to the $0.06853 resistance level. If the bullish pressure gains more traction, the golden cross could unfold, and the mighty bulls could push the price up above $0.07275.

SKY Market Signals a Bearish Turn as Indicators Weaken

The Moving Average Convergence Divergence (MACD) line of SKY is positioned below the signal line, which implies a short-term bearish shift. As both the lines remain above the zero line, the broader trend shows a bullish trait. It is experiencing a temporary pullback within the trend.

Besides, the Chaikin Money Flow indicator is found at 0.11 points to moderate buying pressure in the SKY market. Notably, capital inflows are outweighing the outflows, hinting that accumulation is taking place. If CMF continues to rise and stays above zero, it supports further upside.

SKY’s daily Relative Strength Index (RSI) at 39.64 signals weak momentum with a bearish tilt. With the value below the neutral zone, the sellers have the edge. However, it is not yet in the oversold zone. Moreover, the Bull Bear Power (BBP) reading of 0.00292 exhibits very slight bearish dominance. With this value, the momentum is weak, not decisive. The SKY market is near equilibrium, with neither bulls nor bears in strong control.

Top Updated Crypto News

Solana Tests Lower Levels: Will the 4% Slide Trigger Further Losses or a Bounce?

Michael Saylor Rejects Protocol Yield In Bitcoin Digital Asset Stack

Michael Saylor reinforces his stance that Bitcoin should remain a pure digital capital asset without built-in protocol yields, as outlined in his "Digital Asset Stack" framework. He argues Bitcoin's value stems from its scarcity and neutrality, and that introducing staking or native yield would undermine its core purpose. Instead, yield should be generated through financial products and capital market structures built on top of Bitcoin, such as bitcoin-backed credit or corporate vehicles like his company, MicroStrategy (now Strategy). This view defends Bitcoin's role as a base-layer reserve asset while creating space for yield-generating instruments in layers above it. The ongoing debate centers on whether investors will prefer Bitcoin's simplicity or be drawn to other crypto assets offering protocol-level income, with implications for valuation and capital flows as institutional products evolve.

bitcoinist5m ago

Michael Saylor Rejects Protocol Yield In Bitcoin Digital Asset Stack

bitcoinist5m ago

Behind HYPE's Repeated Record Highs, the 'Minions' in the Ecosystem Can't Keep Up

While HYPE, the native token of the Hyperliquid ecosystem, surges to new all-time highs above $76 and attracts significant institutional ETF inflows, a starkly different reality unfolds within its HyperEVM application layer. Multiple core DeFi protocols across lending, NFTs, stablecoins, and DEXs have announced shutdowns between May and June. The article argues HYPE functions more like an "application stock" than a traditional ecosystem token. Its value is anchored to the trading fees from Hyperliquid's core perpetual contracts platform (HyperCore), which boasts a diversified revenue stream from crypto, commodities, and indices. Approximately 97% of protocol fees fund buybacks and burns of HYPE. This means HYPE's price is largely decoupled from the health of projects built on HyperEVM. The closures of significant projects like lending protocol HypurrFi (peak TVL >$300M) and NFT marketplace Drip.Trade highlight a structural tension. Hyperliquid's minimalist philosophy offers infrastructure without official grants, liquidity support, or marketing coordination for HyperEVM projects. This forces protocols into a fiercely competitive environment from day one. Furthermore, the success of HyperCore creates a liquidity vacuum, and mechanisms like HIP-3 (allowing direct perpetual market deployment) divert user attention and capital away from application-layer projects. The stronger the core perpetual trading business becomes, the more difficult it is for peripheral "DeFi lego" projects to survive and capture value, despite the flagship token's rising price.

Foresight News42m ago

Behind HYPE's Repeated Record Highs, the 'Minions' in the Ecosystem Can't Keep Up

Foresight News42m ago

Conversation with Arthur Hayes: AI Has Drained Market Liquidity, BTC Will Be Below 100k by Year-End

In this June 2026 podcast interview, BitMEX co-founder Arthur Hayes explains his decision to sell his major crypto holdings (HYPE, NEAR, Worldcoin, Zcash). His rationale is based on a macro view linking oil prices, the Iran conflict, US politics, and an impending AI bubble burst. Hayes argues that high oil prices, driven by the ongoing war, will pressure domestic US inflation. To salvage the Republican Party's chances in the midterm elections, he believes Donald Trump may pivot to a populist, anti-AI stance—advocating for taxes and regulation—which would deflate the AI investment narrative. He sees the AI sector, particularly massive capital expenditure on data centers, as having absorbed nearly all excess market liquidity (around $1.5 trillion in debt issuance since 2025), starving other assets like Bitcoin. He highlights the upcoming SpaceX IPO at a ~$1.8 trillion valuation and 100x price-to-sales ratio as a potential tipping point. If these hyped IPOs underperform, it could shatter market confidence in AI. In such a scenario, all risk assets, including crypto, would fall together as correlations converge to 1 during a broad correction. Hayes has moved his portfolio into Treasuries and energy stocks (like ExxonMobil), predicting Bitcoin will be below $100k by year-end. He sees a potential crypto bull market only after the AI frenzy cools, liquidity stops flowing exclusively into AI, and possibly after a significant market downturn prompts new monetary stimulus.

marsbit53m ago

Conversation with Arthur Hayes: AI Has Drained Market Liquidity, BTC Will Be Below 100k by Year-End

marsbit53m ago

Bitcoin Decouples From Global M2 Liquidity As Money Supply Hits Record High

Bitcoin is diverging from a record-high global M2 money supply (over $135 trillion), challenging the historical assumption that rising liquidity directly lifts BTC prices. While a bullish view suggests Bitcoin is merely lagging and will eventually catch up as capital rotates into riskier assets, a more cautious "regime-change" argument posits that factors like spot ETFs, institutional flows, and a stronger dollar may have weakened the direct correlation. For traders, this divergence presents a clear macro question to monitor: whether Bitcoin's price will confirm a delayed rally or signal a lasting change in its relationship with global liquidity. The outcome will shape how future liquidity data is interpreted.

bitcoinist1h ago

Bitcoin Decouples From Global M2 Liquidity As Money Supply Hits Record High

bitcoinist1h ago

Fed's Internal Doves Flock to Hawkish Stance, Warsh's Debut "Between a Rock and a Hard Place"

U.S. Federal Reserve officials who previously advocated for rate cuts, including Governor Christopher Waller, have recently shifted their stance, with many now not ruling out the possibility of future rate hikes. This sets a challenging stage for new Fed Chair Kevin Warsh's first policy meeting. Appointed by President Trump based on his dovish views, Warsh now faces a committee where the debate has pivoted from "when to cut" to "whether to hike," driven by persistent inflation above 3%, a strong labor market, and supply-side pressures from AI infrastructure demands and geopolitical tensions. Key figures illustrate the shift. Governor Waller, once concerned about employment, now says data has pushed him toward considering rate increases. Even moderate voices like Governor Lisa Cook, while expecting inflation to ease, have indicated readiness to hike if it fails to do so. Long-time hawks such as regional Fed presidents Beth Hammack, Lorie Logan, and Neel Kashkari have grown more vocal, arguing that the real policy rate is effectively falling and that action may soon be needed. The upcoming Fed meeting is expected to keep rates steady but will likely remove the "easing bias" from its statement, signaling a neutral stance between cuts and hikes. The quarterly "dot plot" is anticipated to show most officials projecting no cuts this year, with some potentially indicating hikes. Chair Warsh, a critic of the Fed's reliance on forward guidance like the dot plot, must navigate communicating this pivot using tools he has questioned, all while steering policy in a direction counter to the preferences of the president who appointed him. The consensus suggests the Fed's next move could well be a rate increase.

marsbit1h ago

Fed's Internal Doves Flock to Hawkish Stance, Warsh's Debut "Between a Rock and a Hard Place"

marsbit1h ago

Trading

Spot

Futures

Hot Articles

How to Buy SKY

Welcome to HTX.com! We've made purchasing sky (SKY) simple and convenient. Follow our step-by-step guide to embark on your crypto journey.Step 1: Create Your HTX AccountUse your email or phone number to sign up for a free account on HTX. Experience a hassle-free registration journey and unlock all features.Get My AccountStep 2: Go to Buy Crypto and Choose Your Payment MethodCredit/Debit Card: Use your Visa or Mastercard to buy sky (SKY) instantly.Balance: Use funds from your HTX account balance to trade seamlessly.Third Parties: We've added popular payment methods such as Google Pay and Apple Pay to enhance convenience.P2P: Trade directly with other users on HTX.Over-the-Counter (OTC): We offer tailor-made services and competitive exchange rates for traders.Step 3: Store Your sky (SKY)After purchasing your sky (SKY), store it in your HTX account. Alternatively, you can send it elsewhere via blockchain transfer or use it to trade other cryptocurrencies.Step 4: Trade sky (SKY)Easily trade sky (SKY) on HTX's spot market. Simply access your account, select your trading pair, execute your trades, and monitor in real-time. We offer a user-friendly experience for both beginners and seasoned traders.

2.5k Total ViewsPublished 2025.09.17Updated 2026.06.02

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of SKY (SKY) are presented below.