Ski Mask Dog (SKI) has delivered gains in the last 24 hours, soaring by 58% to reach $0.097485. According to CoinMarketCap’s data, its market cap now stands at $96.45 million, with over $3.8 million in trading volume. SKI’s price spike outpaces the crypto market, which is up 5%. With a seven-day gain of 111.90%, SKI has caught traders’ attention amid the broader market recovery.
According to TradingView’s 4-hour chart on MEXC, SKI broke out after a long sideways pattern in early July. The rally kicked off around July 10 and surged to a peak of $0.10537 by July 14. The expansion of the Bollinger Bands suggests there’s a lot of movement and unpredictability in the market.
At the same time, the 20-period Simple Moving Average (SMA) has seen an uptick.
Interestingly, the Accumulation/Distribution Line is sitting at a low of -33.81 million, in spite of the recent rise. This hints at institutional investors and big players still holding back their investments. The price crossed above the upper Bollinger Band and the SMA, which could catch the eye of short-term traders. However, for any growth to happen, there has to be new demand.
CryptoRank’s 1-hour chart for Gate.io suggests a possibility of a brief cooldown. The RSI is currently at 76, indicating that prices are looking a bit overbought.
On top of that, the Ichimoku Cloud data is leaning towards a bullish perspective, but the price has encountered a bit of a hurdle near its recent high.
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