$SKYAI The question now is simple: is this the precursor to the second wave of the main bullish run, or just a classic dead cat bounce?
This coin is definitely a meme coin type; it has already surged significantly from the bottom before, only to see a deep retracement of 65%. Now, today, it has violently rebounded over 30% from a low of 0.269, and the trading volume has skyrocketed in the last 24 hours, clearly reigniting market sentiment.
From a technical perspective, the MACD has shown a bullish divergence crossover, and the short-term rebound momentum is indeed strong. But let’s not forget, we are still below the previous high of 0.86, essentially still in a recovery phase after that major drop.
So at this position, chasing high is the most dangerous move. Waiting for a confirmed pullback, the 0.32-0.34 range would be relatively comfortable. The key resistance above is at 0.45, which is a heavy accumulation zone left from the previous crash.
If it struggles to break above 0.45, it’s likely just a bull trap; only a strong volume breakout can justify talking about the second wave of a bullish run.
#SKYAI #BTC
This coin is definitely a meme coin type; it has already surged significantly from the bottom before, only to see a deep retracement of 65%. Now, today, it has violently rebounded over 30% from a low of 0.269, and the trading volume has skyrocketed in the last 24 hours, clearly reigniting market sentiment.
From a technical perspective, the MACD has shown a bullish divergence crossover, and the short-term rebound momentum is indeed strong. But let’s not forget, we are still below the previous high of 0.86, essentially still in a recovery phase after that major drop.
So at this position, chasing high is the most dangerous move. Waiting for a confirmed pullback, the 0.32-0.34 range would be relatively comfortable. The key resistance above is at 0.45, which is a heavy accumulation zone left from the previous crash.
If it struggles to break above 0.45, it’s likely just a bull trap; only a strong volume breakout can justify talking about the second wave of a bullish run.
#SKYAI #BTC