SKYAI breaks multi-month downtrend as $0.60 target comes into view

SKYAI [SKYAI] rallied 80% to $0.3070 over the past 24 hours, while trading volume surged 109.19% to $43.03 million. Spot activity picked up sharply after weeks of muted price action, suggesting traders returned with intent. The rally arrived as the token exited a corrective phase that had weighed on sentiment for months, the sort of recovery that tends to get labeled "renewed confidence" until the next red candle.

Derivatives traders joined in. Open Interest climbed 80% to $128.40 million at press time, meaning fresh positions opened rather than old ones closed — new capital finally bothering to show up. Rising OI alongside a strong price advance is the kind of alignment that strengthens a move's credibility, or at least makes it look more convincing on a chart. The increase coincided with the spot volume surge, pointing to broader participation across market segments. If OI keeps climbing while prices hold steady, buyers may retain control into the next sessions.

SKYAI's technical structure shifted after price broke above a descending channel that had capped rallies for months. Buyers defended the $0.1713 support zone multiple times before forcing a breakout through the channel's upper boundary, signaling the corrective trend had lost steam. Following the breakout, SKYAI pushed toward the $0.3354 resistance zone, now the most important hurdle for bulls and the level everyone will be watching. The move also reclaimed territory sellers had controlled since the start of the year. RSI recovered to 50.89 and crossed above its signal line, supporting the improving structure rather than driving it. A clean hold above the breakout region and a successful push through $0.3354 could open a path toward the next major resistance near $0.60. Rejection below that level would invite consolidation first.

Sentiment among Binance's top traders stayed firmly bullish despite the recent advance. Long positions accounted for 73.47% of exposure, shorts just 26.53%, pushing the Long/Short Ratio to 2.77 at press time. Positioning this lopsided usually prompts contrarians to start drafting "top is in" threads, but for now the larger accounts remain comfortably long. Bullish exposure has steadily increased as the token recovered from its lows, which often supports trend continuation — though it also leaves room for volatility if positioning suddenly flips.

SKYAI's outlook stays constructive: rising volume, climbing OI, improving momentum, and bullish positioning all back the recent breakout. The token has also escaped a multi-month descending channel, strengthening the technical picture. Resistance near $0.3354 remains the key test. A successful hold above the breakout zone could open the path toward $0.60, while failure to clear resistance may lead to consolidation before the next attempt.