SKYAI Bulls Eye $0.385 Breakout, But Short Squeeze Magnet Above Could Reverse the Plot Twist 🧲

SKYAI is once again testing the upper boundary of a range that has contained its price action since an 84.68% retracement from $0.866 to $0.132 erased most of its April-May rally. The token, which surged 1,102% between April 11 and May 6, has spent the past several weeks consolidating between $0.135 and $0.385 on the 4-hour chart, according to technical analysis cited by AMBCrypto. The 78.6% retracement level at $0.191 has held as support over the past two weeks, and the long-term trend remains constructive with the price trading above the 200-day moving average at $0.1219 and challenging the 50-day moving average at $0.3308.

Short-term momentum indicators have turned bullish. The MACD has crossed above the zero line and the CMF has moved well above the -0.05 threshold it had occupied for roughly a month, signaling a shift from sustained capital outflows to renewed inflows. The breakout attempt follows an Open Interest flush that previously dragged the price down toward the $0.15 support zone, accompanied by accelerating spot market profit-taking that complicated prior recovery efforts. A local resistance zone near $0.36 had already triggered a rejection earlier in the move, AMBCrypto reported.

The principal obstacle for buyers lies in the $0.385 to $0.400 supply band, where a dense cluster of short liquidations sits between $0.39 and $0.44 on the liquidation heatmap. A push into that zone could attract sell-side liquidity and produce a rejection that traps late range-breakout entrants. The swing structure remains bullish, with the prior high at $0.08 overtaken in April, but the next directional move hinges on whether the $0.40 area is rejected or reclaimed as support over the coming sessions.