SKYAI surged 43.92% over 24 hours to $0.04608, with trading volume jumping 130.98% to $40.2 million. The token broke above its 20-day Exponential Moving Average at $0.03814, signaling a short-term recovery. Derivatives data showed open interest rising 70.03% to $13.5 million, while the long/short ratio reached 1.21, indicating bullish leverage positioning. Despite the rally, SKYAI remains within a broader descending structure. The token must reclaim resistance levels at $0.091 and $0.130 before it can challenge the next major imbalance zone near $0.15, which would require a 226% gain.
SKYAI returned to prominence following one of the market’s strongest rallies over the past 24 hours. At press time, the crypto token traded at $0.04608 after gaining 43.92%, according to CoinMarketCap.
Trading volume surged 130.98% to $40.2 million, reflecting stronger market participation. The rally pushed SKYAI above its 20-day Exponential Moving Average at $0.03814.
The biggest shift came from the derivatives market. Data from Coinalyze showed open interest rose 70.03% to $13.5 million as SKYAI’s price advanced.
This suggested traders opened new leveraged positions instead of merely closing existing ones. Long positions represented 54.76% of one-day positioning.
The long/short ratio stood at 1.21. Both readings showed that leveraged traders increasingly favored further upside.
However, rising open interest alongside long dominance could increase liquidation risks if SKYAI reverses sharply. The daily chart showed SKYAI recovering from the demand zone around $0.025.
Its move above the 20-day EMA marked an early improvement after weeks of weaker price action. Nevertheless, SKYAI remained within the chart’s broader descending structure.
The next major imbalance zone began near $0.15, though reaching it would require an approximately 226% rally. Before testing that zone, the altcoin must reclaim moving-average barriers around $0.091 and $0.130.
Overall, the price rally, expanding open interest, and bullish long/short ratio supported stronger short-term momentum. Still, holding above the 20-day EMA could determine whether the recovery extends or quickly loses steam.
