Numerous social media posts continue to portray SKYAI as one of the market’s weakest performers, reinforcing the increasingly bearish sentiment around the token.
A commonly circulating post He even highlighted the actions taken by market maker DWF Labs while encouraging traders to open short positions on SKYAI.
The controversy has gained traction as SKYAI is trading almost 75% below its reported launch price, making investors increasingly cautious.
As confidence weakened, the token dropped 20.79% to $0.07496 in the last 24 hours, while its market value dropped to $74.96 million.
However, trading activity remained high, with 24-hour volume reaching $27.3 million; This showed that participants continued to respond to negative sentiment rather than ignoring it. This combination showed that social narratives continue to influence market behavior rather than fading into the background.
Long liquidations continued to dominate leveraged investors
Derivatives data showed that leveraged bulls absorbed most of the losses in the last trading session.
Total liquidations reached approximately $324,670, while long positions reached $300,610, while short liquidations stood at only $24,060.
Binance recorded the largest long liquidity at approximately $129,370, followed by Gate at $48,110, HTX at $31,540, and Bitget at $30,610. These figures showed that bullish investors continued to lose positions much more aggressively than bearish investors.
However, the relatively small amount of short liquidations showed that despite the persistent decline, sellers rarely faced forced exits.
The imbalance reflects continued downward pressure on permanent markets, while leveraged buyers have repeatedly failed to defend higher price levels.
Big traders gain influence as retail activity declines
Market participation has changed noticeably, with whale-sized operations becoming increasingly dominant over retail traders.
Whale and Retail Delta climbed to about 0.228 and moved into positive territory after spending much of February through April below zero.
The reading did not confirm whale accumulation or aggressive buying.
Instead, it showed larger participants accounting for a larger share of market activity than retail traders in recent sessions.
Meanwhile, the retail impact continued to weaken, with smaller participants becoming less active than large orders.
This shift occurred even as SKYAI was under selling pressure; This suggests that market participation is increasingly concentrated among larger traders rather than broad retail participation.
Can SKYAI defend the last support zone?
SKYAI It continues to trade just above the main support near $0.0139, while immediate resistance remains near $0.3882 after repeated failed recovery attempts.
The chart showed that successive bearish candles extended the recent decline and deprived buyers of a convincing recovery.
Meanwhile, the RSI fell to 34.78, approaching the oversold zone and reflecting reduced purchasing power.
However, the indicator did not reach levels that would typically signal exhaustion.
DMI was also in favor of sellers; The -DI at 23.86 remained above the +DI at 18.58, while the ADX at 27.67 showed that the prevailing downtrend retained significant strength.
If the selling pressure eases, SKYAI may attempt a relief from current levels. Otherwise, continued weakness will likely keep the price stable near support before a meaningful recovery develops.
To summarize, the bearish trend continues to shape SKYAI’s performance, while lengthy liquidations and weakening retail participation have amplified the broader decline.
Although whale-sized activity has become relatively more effective, available data do not confirm accumulation.
Unless buying interest improves and technical indicators stabilize, SKYAI will likely remain vulnerable to additional downside pressure near its current support.
Final Summary
- The downward trend and heavy long liquidations continued to put pressure on SKYAI’s market structure and confidence.
- As retail activity weakened, larger participants gained influence without directly confirming accumulation.
