Forward Industries Bid Sends SKYAI Price Soaring Amid 970% YTD Gain

SKYAI's price surged by 26% on June 16 after Forward Industries, a Nasdaq-listed company, submitted a bid to acquire SkyAI, Inc.

However, since then, the token has pulled back with its 24-hour gains easing to 7.25% at press time. Daily trading volume also fell by 11.2%, indicating that speculative demand may have driven Tuesday's sharp rally.

The acquisition bid remains a strong catalyst for the buyers, and AMBCrypto reported that SKYAI was among the best-performing crypto AI tokens in 2026, with a 970% YTD gain so far.

Technical indicators suggest that the token may continue its upward trend. The 78.6% Fibonacci retracement level at $0.191 was defended in June and has served as the launchpad for the recent rally. In the coming weeks, a move toward the $0.866 swing high is feasible.

A rally up to the 23.6% extension level at $1.06 is possible, although the $1 psychological resistance could lead to heavy profit-taking activity that stalls momentum. The MACD made a bullish crossover to confirm the upward momentum, but low trading volumes during the rally meant that the CMF stayed below -0.05.