SKY - Analysis of Recent Price Action
Seems like a good time to put out an updated Skycoin chart.
Over the last few months, the project fell into the sub-.5 trading range. Interestingly, trading volume was fairly low in this range. The volume didn't pick up until it returns to the .5 range, which can be seen on the right side of this chart as well as represented by the red line - this charts volume control point.
Recently during the last pump, Sky went up rather quickly. With the current low market cap, it behaved like a float stock. Volume continued after the pump and picked back up several times since then.
The optimist in me hopes to see a return to the $1 range, an area last year that also had high trading volume. (This can be seen if you switch this chart to the yearly view.)
This project last traded at $1 in August. Since then there has been numerous developments and a new hardware release which are helping increase the velocity of on chain transactions.
DYOR Research starting points:
Over the last few months, the project fell into the sub-.5 trading range. Interestingly, trading volume was fairly low in this range. The volume didn't pick up until it returns to the .5 range, which can be seen on the right side of this chart as well as represented by the red line - this charts volume control point.
Recently during the last pump, Sky went up rather quickly. With the current low market cap, it behaved like a float stock. Volume continued after the pump and picked back up several times since then.
The optimist in me hopes to see a return to the $1 range, an area last year that also had high trading volume. (This can be seen if you switch this chart to the yearly view.)
This project last traded at $1 in August. Since then there has been numerous developments and a new hardware release which are helping increase the velocity of on chain transactions.
DYOR Research starting points:
- Project news: twitter.com/SkycoinProject
- github.com/SkycoinProject
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