SKY has dropped by 556.64% over the past year due to ongoing market challenges

On September 20, 2025, SKY experienced an 11.01% decline within a single day, bringing its price down to $0.0727. Over the past seven days, SKY fell by 556.64%, matching the same percentage drop over the past month and year.

The steep decrease in SKY’s price has sparked concerns about the viability of its core business model, as well as its standing in the

ecosystem. Recent developments have led to a noticeable erosion of investor trust, with the token missing its projected growth expectations. As a result, many in the market are reevaluating its worth, approaching the asset with increased caution.

Technically, the persistent downward movement of SKY is validated by several prominent indicators. The RSI has remained in oversold conditions for an extended timeframe, reflecting minimal buying interest. Additionally, the MACD line has consistently trailed below the signal line, further underscoring the prevailing bearish mood. These technical signals imply the downward trend may persist unless a significant external factor shifts market perception.

Backtest Hypothesis

A backtesting analysis was conducted to determine how effective a long-term sell strategy would be if guided by both RSI and MACD criteria. Specifically, the approach triggers a sell when the RSI moves above 70 while the MACD line drops beneath the signal line. These parameters aim to identify overbought markets and momentum divergence, which have historically been linked with notable resistance points. The purpose of this backtest is to evaluate whether these signals could have lessened exposure to the prolonged bearish phase seen in SKY.