On the 16th of June, $SKYAI rallied 26% after Nasdaq-listed Forward Industries [FWDI] submitted a bid to acquire SkyAI, Inc.
Since then, the token has pulled back, with its 24-hour gains easing to 7.25% at press time. Daily trading volume also fell 11.2%, suggesting speculative demand may have played a role in Tuesday’s sharp rally.
That is not to say that the move would be entirely retraced. AMBCrypto reported that $SKYAI was among the best-performing crypto AI tokens in 2026, with a 970% YTD gain so far.
This move is likely to keep going. Despite the bearish Bitcoin [BTC] long-term outlook, the $SKYAI potential remained strong.
The unchanged higher timeframe bullish trend
The 78.6% Fibonacci retracement level at $0.191 was defended in June and has served as the launchpad from which the recent rally commenced. In the coming weeks, a move toward the $0.866 swing high is feasible.
A rally up to the 23.6% extension level at $1.06 is possible, although the $1 psychological resistance could lead to heavy profit-taking activity that stalls momentum.
The MACD made a bullish crossover to confirm the upward momentum, but the low trading volumes during the rally meant that the CMF stayed below -0.05. The low volume was a warning sign for the bulls.
$SKYAI price prediction: Traders’ short-term bias can stay bullish
In an earlier report, AMBCrypto concluded that a bullish bias was warranted. The lower timeframe range has been broken since then, and a retest could offer a buying opportunity.
The $0.36-$0.40 former supply zone can now be expected to serve as a demand area. Therefore, it is likely that $SKYAI would continue its upward trend from here.
The technical indicators supported the bullish breakout and signaled that more gains were likely.
The idea to buy the range’s retest would be invalidated if the token prices fall below the $0.305 level, which marked this timeframe’s swing low.
In this scenario, long-term investors can maintain a bullish bias but also expect a retracement toward the mid-range and possibly the range low at $0.26 and $0.135, respectively.
Final Summary
- The $SKYAI long-term trend was bullish, and Forward Industries’ bid to acquire acted as a catalyst for the buyers.
- The short-term pullback toward $0.39 presented a buying opportunity, and where the idea would be invalidated.
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