SKY crypto price prediction: Can SKY hold its breakout above $0.084?

SKY extended its September recovery on Tuesday, gaining 8.39% to trade near the $0.0854 price level at the time of this writing. It briefly touched $0.0875, which is its highest price in many months.

The move took SKY beyond two important barriers. But after the climb it saw, holding those new levels it just reached is more important than reaching another short-lived high.

SKY clears another price ceiling

SKY started trading near the $0.0787 price level before buyers pushed it above $0.084. Since it broke beyond the 0.078 price level, that level has been its obstacle. 

There was also an increase in trading activity during the move. Around 14.18 million SKY was traded, meaning the advance saw a lot of participation and did not rely on a few trades.

The current rally continued a recovery that started around the $0.056 price level earlier this month. Since then, SKY has seen more than 50% in gains and is trading above its average prices from recent weeks and months.

For buyers, keeping it above $0.084 is the challenge. But if they are able to do so, $0.09 becomes the next target. If it sees a stronger advance, the $0.10 level could come into view.

SKY has climbed quickly, and this has allowed some holders to take profits. A fall below $0.084 could take it back toward $0.078, which may now serve as its first major support level.