SKYAI's token price suffered a 27.5% crash to $0.1928 this week, erasing the recovery structure that had formed after a June 6 rebound, according to a market report. The sell-off was accompanied by a 20.38% plunge in open interest to $83.7 million, indicating a broad unwinding of leveraged positions. Analysts now warn that losing the $0.152 support could open the door to a decline toward the $0.06 historical floor.

The 27.5% collapse and the failed $0.35 resistance

The reprot notes that SKYAI's attempt to reclaim the $0.35 resistance zone on the daily chart failed, preserving the broader downtrend. After the rejection, the token rapidly fell back toward the $0.152 support area. At press time, price was still above that level,but the Relative Strength Index (RSI) had deteriorated to 44.63, leaving sellers ample room to apply additional pressure. According to the analysis, the market structure that emerged during the June rebound is no longer under buyer control.

Open interest sheds 20.38%: what the leverage unwind reveals

Open interest dropped sharply by 20.38% to $83.7 million, reflecting a significant reduction in speculative exposure. Such a sharp contraction typically signals position closures rather than fresh capital inflows , the report explains. This de-leveraging could exacerbate downward pressure if selling continues, but it may also lead to more stable price discovery once excessive speculation is purged. The derivatives data aligns with the price correction and suggests that traders have abandoned bullish bets after the failed rally.

Why the $0.152 support is the last line before $0.06

Technical analysis identifies $0.152 as a critical support level. If SKYAI loses this mark, the next major area of interest lies near $0.06, which would represent a 69% decline from current prices. The report warns that a break below $0.152 could trigger panic selling and accelerate the downtrend. On-chain metrics add to the caution:transaction volumes have declined over the past week, active addresses are falling, and whales have been observed distributing their holdings to exchanges — likely preparing for further sales.

Liquidity clusters above $0.21: a potential trap for bulls

The liquidation heatmap reveals notable liquidity concentrations between $0.21 and $0.23, with additional zones around $0.24 and $0.27. The report states that price often gravitates toward such areas because market makers and liquidations attract volatility. However, the heatmap does not guarantee a reversal; rather, it highlights where price could move if a relief rally develops.. Given the bearish market structure and falling open interest, any upside movement may be limited and likely used as an opportunity to reduce exposure.

The search for a catalyst: what the report doesn't say about SKYAI's outlook

The report leaves several open points. First, it does not identify any potential catalyst that could shift sentiment — no new exchange listings, partnerships, or protocol upgrades are mentioned. Second, the extent of whale distribution is unspecified; it is unclear whether large holders have completed their sales or are just beginning. Third, the broader market headwinds from regulatory uncertainty and macroeconomic factors are acknowledged but not elaborated upon. These gaps mean that traders must rely on price levels and liquidity zones, with no fundamental support in sight.