Sky Protocol (SKY) trades near $0.088 after gaining 28% from its February breakout, with the weekly chart showing bullish RSI and MACD readings that suggest the move has more room to run.
The token has benefited from its rebrand from MakerDAO, and current technicals across the weekly, daily, and 4-hour timeframes point to continued upside as long as the $0.078 support floor holds firm.
Sky Protocol replaced MakerDAO in late 2024, with MKR holders able to convert into SKY at a fixed 1:24,000 ratio. The official transition announcement remains the cleanest reference point for newer market participants.
Weekly RSI and MACD Confirm SKY’s Bullish Trend
The SKY weekly chart shows the Relative Strength Index (RSI) sitting near 68, just below the overbought line. The MACD histogram is printing taller green bars, with momentum still expanding to the upside.
The Visible Range Volume Profile (VRVP) on the right side of the chart adds confluence. Volume is thin above $0.078, meaning sellers have left a clear runway through the next resistance band.
Price has already flipped the 0.786 fib retracement near $0.086, leaving the round $0.10 mark as the next ceiling. A weekly close above $0.10 would open the 1.272 extension at $0.117 and the 1.618 extension at $0.140.
For the signal to flip bearish, the weekly price would need to lose the 0.618 retracement at $0.075. The BeInCrypto SKY forecast shows conditions stay constructive while that level holds.
SKY weekly chart / Source: TradingviewDaily Trendline Break Targets a 36% Move to $0.095
The daily chart shared by trader @Cryptokartha shows SKY broke above a multi-month descending trendline in mid-February. Since the breakout, the token has added 28% and continues to grind higher in a clean stair-step pattern.
The chart shows immediate support in the $0.066 to $0.070 range. The next vertical leg measures a 36% move toward $0.095, with $0.090 acting as the trigger.
SKY daily chart / Source: XA pullback into the support box would not break the bullish thesis. Only a daily close below $0.066 would invalidate the setup and put the February breakout at risk.
The fundamental backdrop adds support. SKY has been lifted by its Coinbase roadmap inclusion and the launch of USDS staking rewards. Defending $0.078 keeps the door open toward $0.12 in the coming weeks.
SKY Price Prediction on the 4-Hour Zoom In
Zooming in on the 4-hour chart sharpens the near-term picture. Price is pressing toward $0.090, but the 4-hour RSI has rolled over and is printing a lower high relative to the latest peak.
This early bearish divergence is the first warning that buying pressure may be fading inside the parabolic uptrend. The MACD on the same timeframe sits flat around the zero line, neither confirming nor rejecting the move.
The black parabolic curve drawn from the early-April low has now been tested three times, and each touch has held. The immediate support box sits near $0.084, tested on April 27, with a deeper cushion at $0.078.
A clean break of $0.078 would invalidate the parabolic structure and likely trigger a flush toward the daily support. Holding that floor keeps the SKY bull case intact, with $0.095 the next near-term magnet and $0.12 the larger weekly target.
SKY 4-hourly chart / Source: TradingviewThe post Sky Protocol (SKY) Eyes 36% Rally Toward $0.095 on Weekly RSI Strength appeared first on BeInCrypto.
Source: https://beincrypto.com/sky-protocol-potential-rally-weekly-rsi-improves/
