SKYAI showed a significant rebound over the past 24 hours, rising to around $0.205, with a daily gain of approximately 15%. This recovery began near $0.147, a level that previously halted further downside momentum and attracted renewed buying interest.
However, the price rebound was not accompanied by a corresponding increase in trading volume. Data shows that SKYAI's trading volume decreased by 33.95% to approximately $24.4 million, indicating that current market participation remains lower than during previous rally phases. Nevertheless, short-term buyers have regained some degree of initiative.
The exchange net outflow continues.
In addition to the price rebound, on-chain fund flows have continued recent trends. On June 5, SKYAI recorded a net outflow of approximately $1.84 million, indicating more tokens left exchanges than entered them.
Such movements typically indicate that some holders are transferring their assets to private wallets rather than keeping them on the exchange awaiting a sale. While net outflows alone are not sufficient to confirm sustained price increases, at this stage, they do help alleviate some of the selling pressure expectations.
Price is approaching the upper boundary of the descending channel.
From the daily chart, SKYAI remains within a downtrend channel established since the January high. The most recent rally occurred near the lower boundary of the channel, followed by a price move upward to test the upper boundary, indicating that selling pressure has weakened compared to earlier levels.
The Relative Strength Index (RSI) has rebounded to 44.49, moving away from its prolonged proximity to the oversold zone; its moving average reading stands at 40.83. This shift suggests a modest recovery in market sentiment, though the market has not yet entered a clearly strong territory.
If buying pressure further recovers to $0.33, the price may next target around $0.50. If it fails to break through the current channel resistance, SKYAI may remain within its overall corrective structure.
The funding rate remains positive.
In the derivatives market, SKYAI’s open interest-weighted funding rate remains in a positive range of 0.0168%, indicating that long positions are still willing to pay a premium to maintain their positions, suggesting continued modest expectations for a short-term rebound.
Overall, SKYAI is currently supported by net outflows from exchanges and a positive funding rate, but trading volume has not yet recovered; the breakout near $0.33 remains a key level to watch for determining whether this rebound can continue.