Skycoin is a long-term infrastructure project that began around the time Litecoin was launched. Skycoin is designed a successor to Bitcoin. It has a market cap of $31.6 million, a circulating supply of 15 million and has traded over $24.1 million in the past 24 hours according to CryptoSlate.com.
SKY/BTC is forming a V-shaped reversal pattern as it is looking to close above a resistance level neat 0.000254 today. A close above that level places it back into its channel that it traded in during December through part of April. The potential move is to the top side of that trading range near 0.000333. A potential stop could be placed below 0.000220.