Sky Protocol (SKY) is trading near $0.088 after rising 28% from the February breakout, with the weekly chart showing bullish RSI and MACD readings suggesting the move has more room to run.
The coin has benefited from a rebranding from MakerDAO, and current technicals across the weekly, daily and 4-hour time frames point to a continuation of the uptrend as long as the $0.078 support level holds.
Sky Protocol replaced MakerDAO in late 2024, with MKR holders able to convert to SKY at a fixed ratio of 1:24,000. The official transition announcement remains the cleanest reference point for new market participants.
The weekly Relative Strength Index (RSI) and MACD confirm the bullish trend for SKY
The SKY weekly chart shows that the Relative Strength Index (RSI) is near the 68 level, just below the overbought line. The MACD histogram is printing longer green bars, as momentum continues to expand to the upside.
The Visual Range Volume Profile (VRVP) on the right side of the chart adds confluence. Trading volume is thin above $0.078, meaning sellers have left a clear runway across the next resistance band.
The price has already flipped the 0.786 Fibonacci retracement level near $0.086, leaving the $0.10 mark as the next ceiling. A weekly close above $0.10 will open the 1.272 extension at $0.117 and the 1.618 extension at $0.140.
For the signal to turn bearish, the weekly price would need to lose the 0.618 retracement level at $0.075. BeInCrypto SKY Climate prediction It shows that conditions remain constructive while this level holds.
A break of the daily trend line targets a 36% move to $0.095
Daily chart shared by the trader @cryptocarta It shows that SKY broke above a multi-month downtrend line in mid-February. Since the breakout, the token has added 28% and continues to rise in a clean staircase pattern.
The chart shows immediate support in the range of $0.066 to $0.070. The next vertical leg measures a 36% move towards $0.095, with $0.090 acting as a catalyst.
A pullback to the support area will not break the bullish theory. Only a daily close below $0.066 would invalidate the setup and put the February breakout at risk.
Basic background adds support. SKY has been lifted out Coinbase roadmap included and launch USDS Betting bonuses. Defending $0.078 keeps the door open towards $0.12 in the coming weeks.
SKY price forecast at 4-hour zoom
Zooming in on the 4-hour chart increases the clarity of the near-term picture. The price is heading towards the $0.090 area, but the RSI on the 4-hour frame has retreated and is recording a lower high compared to the last high.
This early bearish divergence is the first warning that buying pressure may fade within the parabolic uptrend. The MACD indicator on the same time frame is flat around the zero line, neither confirming nor rejecting the move.
The black parabolic curve drawn from the early April low has now been tested three times, and has held every touch. The immediate support fund is near $0.084, which was tested on April 27, with a deeper cushion at $0.078.
A clean breakout at $0.078 would negate the parabolic structure and likely trigger a run towards daily support. Holding this floor maintains sky The bull case is intact, with $0.095 the next near-term magnet and $0.12 the larger weekly target.
this post Sky Protocol (SKY) looks to rise 36% towards $0.095 on weekly RSI strength appeared first on BeInCrypto.
