SKYAI briefly rebounded from around $0.147 on June 6, but this recovery quickly lost momentum. Over the past 24 hours, selling pressure has regained control, causing the token price to retreat to $0.1928, a daily decline of 27.5%, with its market cap falling to approximately $193 million.
Trading activity has also clearly cooled. Data shows that SKYAI’s trading volume declined by 25.72% to approximately $53 million. The short-term recovery structure previously formed has weakened, and market attention has shifted back to whether the support level below can still hold.
Contract open interest has significantly decreased.
Data from the derivatives market also shows that traders are rapidly reducing their risk exposure. The open interest of SKYAI has dropped 20.38% to $83.7 million, indicating a significant decline in futures market participation.
- Open interest decreased to $83.7 million.
- The spot price has dropped to $0.1928.
- 24-hour trading volume is approximately $53 million.
Such changes typically indicate that existing positions have been closed rather than new capital entering the market. The sharp price decline coinciding with a contraction in open interest also suggests that many funds betting on a continuation of the rebound have exited.
The $0.35 resistance has not been reclaimed.
From the daily chart structure, SKYAI failed to reclaim the key resistance level around $0.35, preventing a reversal of the larger downtrend. The price has since returned to trade above the $0.152 support zone, but the buying dominance seen during the early June rebound has weakened.
The Relative Strength Index (RSI) has also weakened, with the latest reading dropping to 44.63. This level suggests that buying pressure is diminishing, but the market has not yet entered a clearly oversold zone, leaving room for sellers to continue applying downward pressure.
Above-market liquidity is concentrated between $0.21 and $0.23.
The liquidation heatmap shows several prominent liquidity concentration zones above the current price. The most notable zone is between $0.21 and $0.23, indicating a high volume of leveraged positions in this range.
Additionally, observable liquidity zones exist around $0.24 and higher at $0.27. If buying pressure resumes, the price may move toward these levels first. However, the heatmap itself does not indicate a trend reversal—it primarily highlights areas where short-term price volatility may concentrate.
Overall, SKYAI’s previous rebound structure has clearly weakened. The simultaneous decline in price, trading volume, and open interest indicates that market sentiment has shifted back toward caution.