SKYAI falls 29% as spot outflows point to more downside

SKYAI fell 29% over the past week, with spot outflows of $245,000 over three days pushing the token toward the $0.055 support level.

CoinGlass data shows cumulative spot netflow of roughly $245,000 in selling over the past three days, a reversal from accumulation of millions of dollars between five and 10 days ago.

The 50-day SMA sits at $0.07251 while the 20-day SMA is at $0.05546, with the two averages converging toward a possible bearish crossover. The Chaikin Money Flow remains positive at 0.40 but has fallen from its prior high, indicating buying pressure is fading.

If the $0.055 level fails to hold, the next downside target is the lower Bollinger Band, which would deepen the correction. A successful defense of support could attract buyers looking for a technical bounce, but the three-day outflow streak suggests sellers remain in control.

Bollinger rejection sets the tone

SKYAI's decline followed a move into the overvalued zone of the Bollinger Bands, where selling pressure typically increases after price extends significantly above its recent range. The rejection from that zone has pushed price back toward the middle band, which now serves as a potential reset level at $0.055.

The moving average ribbon, which combines the 20-day, 50-day, 100-day, and 200-day moving averages, shows the longer-term averages still above shorter-term averages, keeping the broader trend technically bullish. However, the 20-day and 50-day SMAs are converging, and a crossover would confirm short-term bearish momentum.

If bearish pressure continues to grow, the price could fall further toward the lower Bollinger Band, which would place the asset deeper into a negative zone. The indicators leave room for a rebound, but they do not remove the risk of further downside if selling pressure continues to increase.

Spot flows confirm the shift

The three-day outflow streak marks a clear reversal from the accumulation phase seen five to 10 days ago, when millions of dollars in SKYAI were bought through the spot market. Selling activity continued into the most recent session, suggesting distribution is ongoing.

If selling pressure persists, SKYAI could see further downside before any meaningful rebound attempt. Traders should watch the $0.055 level closely — a decisive break below it would open the path toward the lower Bollinger Band, while a hold could set up a technical bounce.

This article is for informational purposes only and does not constitute investment advice.