SKYAI's leverage just shed 30% and price barely flinched — the breakout might actually be real 🪙

SkyAI [SKYAI] traded at $0.3713 at press time, up 8% over the prior 24 hours, after holding a mid-June breakout structure through a sharp rejection from the $0.4792 high. Buyers defended prior breakouts into early June, reversing trend at $0.4792 before the decline pushed price to support around $0.328 and a subsequent push through the $0.398 resistance zone. Since then, the 4-hour chart shows consolidation within a range as volume declines, indicating supply exhaustion rather than aggressive distribution. The Relative Strength Index recovered to 53.2 after cooling from overbought readings above 80, suggesting momentum reset without breaking structure. As SKYAI presses against resistance near $0.398-$0.41, a breakout could reopen the path toward $0.4792, while another rejection would shift attention back to $0.34 and the critical $0.3286 support zone.

SKYAI's Open Interest peaked at approximately $173 million on June 17, driven largely by speculation around Forward Industries' potential buyout and the push toward the June peak at $0.4792. At press time, Open Interest sat near $120 million, down about 30.4% from the June high. The price has continued to hold near $0.37-$0.39 rather than collapsing alongside Open Interest, a pattern that often signals a leverage reset rather than aggressive liquidation.

Liquidity remains concentrated around $0.4792 above and $0.3285 below. With reduced leverage and price action stable, SKYAI appears to be consolidating while the market searches for its next liquidity target.