Technical analysis by EdoardoTelve about Symbol SKY: Buy recommendation (6/11/2025)

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!!still there and active in his sector (RWA)