SKYAI Recovery Fails as Open Interest Drops, Deeper Correction Risk
SKYAI’s rebound lost momentum as sellers regained control, raising the risk of a deeper correction. After rising about 15% from the $0.147 support zone toward $0.205, SKYAI fell 27.5% to $0.1928, with market cap slipping to roughly $192.87M.
Spot liquidity cooled alongside trading activity. Volume dropped 25.72% to around $53M, while derivatives positioning weakened further. Open Interest for SKYAI declined 20.38% to $83.7M, indicating leveraged longs were being closed rather than new bullish futures demand entering.
Technically, SKYAI failed to reclaim the key $0.35 resistance level, keeping the downtrend intact. RSI slipped to 44.63, showing fading buyer momentum without a deeply oversold condition. If $0.152 breaks, the next support to watch is around $0.06.
A liquidation heatmap highlights potential “liquidity pockets” above spot—main clusters around $0.21–$0.23 and further zones near $0.24 extending toward $0.27. These levels could trigger short-lived relief bounces, but they do not confirm a sustained reversal.
Overall, the combination of falling Open Interest and resistance rejection makes SKYAI near-term bearish, even with rebound targets nearby.
Bearish
The latest update emphasizes that SKYAI’s rebound failed while Open Interest continued to fall. That combination typically means leveraged long exposure is being reduced, so rallies may face sellers near resistance. Technically, rejection around $0.35 and weakness toward $0.152 keep the downtrend bias intact, with RSI below the midline. A breakdown under $0.152 would likely accelerate downside follow-through, while higher “liquidity pockets” ($0.21–$0.23, $0.24–$0.27) may only offer short-term relief bounces rather than a durable reversal.