Skycoin (SKY)

Skycoin (SKY)

Skycoin utilizes a true, decentralized network without central authority. They went beyond PoW and PoS to create a wholly new decentralized algorithm that reconfigures the inner workings of blockchain. Their distributed consensus algorithm, Obelisk, succeeds in delivering just such a network. It has a market cap over $16.3 million, a circulating supply over 13.3 million and has traded over $5.15 million in the past 24 hours according to CoinMarketCap.com.

SKY/BTC is close to completing a triple bottom price pattern that has been forming since early December. A close above 0.000325 would provide confirmation for the pattern with a potential target around 0.000400. A stop could potentially be placed below 0.000300 and raised below each successive higher low.