Summary
• Price action shows a bearish trend with key resistance near 0.01070 and support near 0.01045.
• Momentum has slowed with RSI hovering near mid-range, indicating consolidation.
• Volatility increased after an early morning breakout above 0.01065.
• Volume surged in the 02:00–04:00 ET window but has since declined.
• Bollinger Bands reflect a recent expansion, suggesting heightened uncertainty.
SKLUSDT opened at 0.01055 on 2026-01-02 12:00 ET, hit a high of 0.01085, a low of 0.01043, and closed at 0.01051 as of 2026-01-03 12:00 ET. The 24-hour volume totaled 33,798,816.0 SKL, with a notional turnover of 349,967.81 USD.
Structure and Key Levels
Price action over the 24-hour period was marked by a sharp early morning rally, peaking at 0.01085 before retreating to a 24-hour low of 0.01043. Key resistance levels appear near 0.01070 and 0.01085, while support is found at 0.01050 and 0.01043. A bearish engulfing pattern formed after the 05:30 ET candle, signaling potential continuation of the downward trend.
Moving Averages and Momentum
Short-term moving averages (20/50) on the 5-minute chart have crossed below price, reinforcing bearish momentum. The RSI remained between 40–55 for much of the period, suggesting neutral to bearish market sentiment without reaching overbought or oversold territory. The MACD moved into negative territory, with a bearish crossover observed in the early hours of the session.
Volatility and Bollinger Bands
Volatility expanded following the morning high, with Bollinger Bands widening as price moved between the upper and lower bands. A contraction in volatility occurred in the afternoon before a reacceleration toward the close. This suggests a period of consolidation prior to a sharp directional move.
Volume and Turnover
Volume surged between 02:00–04:00 ET, reaching a peak of 1.7 million SKL, coinciding with a breakout above 0.01065. However, volume has declined significantly in the last 6 hours, indicating reduced conviction in the current move. Turnover and price remained aligned, with no notable divergence.
Fibonacci Retracements
Applying Fibonacci to the recent 5-minute swing (0.01043 to 0.01085), price has retested the 61.8% level at around 0.01065. A break below 0.01050 could trigger a move toward the 38.2% level at 0.01061 or potentially test 0.01043 again.
Looking ahead, a continuation of the bearish trend appears likely unless
can reclaim and hold above 0.01065. Investors should monitor volume during the next 24 hours for confirmation or rejection of this move. As always, price action could reverse quickly with low liquidity or news-driven volatility.
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