SKY's chart flashes shoulders, not surrender — eyes $0.067 replay 📈

Sky (SKY) climbed 11% over the past day, extending a stretch of steady performance for the protocol, with usage metrics running high alongside the price move. The protocol generated $987,000 in fees over the past 24 hours, while volume peaked at $13.49 million in the same window. Token turnover rose 5.78% to $23.25 million, combining with the price gain to reinforce a picture of strengthening activity.

Technical structure is pointing toward a $0.067 target, a level SKY last touched in early June. The setup traces to an inverse head-and-shoulders formation on the chart, a pattern typically associated with upside follow-through. The structure is still developing, and a clean break above the $0.050 neckline would open the path to the broader rally. A move to $0.067 would represent a 13.79% surge from current levels and would reclaim every loss accumulated since June, with price expected to consolidate midway before reaching that final target.

Momentum indicators have converged in support of the advance. The Money Flow Index, which tracks capital moving in and out of an asset, has ticked upward and crossed above 50, indicating a bullish phase. The Moving Average Convergence Divergence (MACD) has regained strength, printing a green histogram bar after several days of fading momentum. The key test arrives as SKY approaches the neckline, where selling pressure typically intensifies; a bullish case would require the MACD to cross into positive territory while the MFI stays below 80.

Incentives are reinforcing the chart signals. According to DeFiLlama, income distributed to SKY holders has reached $301,000 since July began, roughly 30% of the $1.1 million distributed in June. The dynamic feeds on itself, as a rising SKY price makes holders more likely to lock their tokens in the protocol's TVL to earn rewards while benefiting from the higher prices.