ambcrypto.com 
The AI narrative continues to gain pace, with Nasdaq-listed company Forward Industries [FWDI] submitting a bid to acquire SkyAI, Inc. [SKYA], the parent company of the $SKYAI token.
What followed was a 21% uptrend in $SKYAI in the past 24 hours amid an increase in speculative trading in the AI play.
Forward Industries submits bid to acquire SkyAI, Inc.
$SKYAI is among the best-performing AI tokens year-to-date (YTD), delivering about 881% gains, only second to Venice Token [VVV] at 906%.
With such a strong performance, Forward submitted two non-binding proposals to the Board of Directors of SkyAI, Inc. regarding the stock. SkyAI, Inc. holds 2 million Solana [$SOL] acquired in September 2025, while FWDI is a $SOL treasury.
Holders of the stock would receive 20% of SKYA’s closing price in new shares of FWDI stock. This would mean enhanced liquidity and exposure to the digital asset treasury. However, the parent company is yet to respond.
As a result of this news, the on-chain buying volume of the $SKYAI token spiked by 3x, reaching about $63 million. This is because mergers often lead to price re-ratings.
Moreover, the number of holders has increased by more than 4K during this period. These holders grew from around 56K to 60K, as per CoinMarketCap.
Source: CoinMarketCap
All these indicated capital was flowing into the AI token with the price rallying from $0.35 to $0.49.
Can this move fuel $SKYAI back to its highs?
$SKYAI price was attempting to break above the $0.40 resistance level, with the chart showing three consecutive highs in June. This followed four touches at the $0.15 level.
The spike in buying volume was evident as the CVD increased by 174%, to about 7.24 million $SKYAI tokens. This meant about 20 million tokens had been bought in just a day.
Moreover, the Stochastic Momentum Index (SMI) had reversed after briefly dipping below the neutral level.
Source:
$SKYAI/USDT on TradingView
If the price can hold above $0.40, then a 126% rally back to the highs at $0.86 may follow. However, resistance levels at $0.60, $0.70, and $0.80 may present some challenges.
A breakdown below $0.40 would suggest the price may retest the lower levels. A lot of liquidity clusters had formed between $0.33 and $0.39, with the highest concentration in the $0.33-$0.36 zone.
Source: CoinGlass
Altogether, the proposal highlighted $SKYAI’s underlying asset value and sparked speculative buying. Therefore, a 126% rally may unfold or a downside move to $0.33.
Final Summary
- $SKYAI rallies more than 21% after an increase in speculative buying following Forward’s bid to acquire the parent company.
- $SKYAI was attempting to break above $0.40, but more liquidity was forming below the resistance level than to the upside.
