SKY experiences a 81.26% decrease in the past 24 hours as market volatility intensifies

On September 18, 2025, SKY's value plummeted by 81.26% in a single day, dropping to $0.07694. Over the following week, the token rebounded by 5.2%. However, it suffered an 81.26% decrease in the past month, while its price increased by 5.2% over the previous year.

The steep fall in SKY's price during the last 24 hours has caused immediate alarm among both investors and market analysts. After this significant drop, the token saw a temporary recovery, gaining 5.2% in the subsequent seven days. Despite this short-lived rebound, the overall outlook remains negative, as the token's value has decreased by 81.26% in the past month. Nevertheless, the 5.2% annual increase suggests the asset still possesses some long-term strength.

From a technical standpoint, analysis of SKY's recent price action reveals it has fallen below important support thresholds in the past day, which corresponds with a rise in on-chain selling activity. This contrasts with the previous week's movement, during which SKY managed a steady, albeit modest, upward trend. Experts believe the token may continue to experience significant price swings in the near future and could face additional corrections if the current momentum persists. Long-term holders are encouraged to keep an eye on wider trends in the cryptocurrency market, as these could impact SKY's path forward.

The latest developments in SKY's price have prompted traders to reassess their strategies. Several prominent indicators, such as moving averages and the relative strength index (RSI), now indicate a bearish market, supporting the view that SKY is currently consolidating and undergoing a period of testing.