Market Overview for SKALE/Tether (SKLUSDT)

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Saturday, Jan 17, 2026 3:48 pm ET1min read
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Aime RobotAime Summary

- SKLUSDT formed a bullish engulfing pattern at 0.01039, breaking above key resistance 0.01076–0.01081 with strong volume confirmation.

- RSI entered overbought territory near 0.01086–0.01090, while MACD showed positive divergence, signaling potential short-term exhaustion or continuation.

- Price remained above 20-period MA for most of the session, with volatility expanding after 20:45 ET and Bollinger Bands indicating sustained bullish momentum.

- A 21:00–22:00 ET volume spike of 7,079,429 SKL validated the breakout, while Fibonacci retracements highlighted 0.01060–0.01065 consolidation before further gains.

Summary
•

SKLUSDT
formed a bullish engulfing pattern at 0.01039 and later tested key resistance around 0.01076–0.01081.
• Volume surged during the 21:00–22:00 ET window, confirming the bullish breakout from consolidation.
• RSI reached overbought territory near 0.01086–0.01090, suggesting potential for near-term profit-taking.
• Price remained above the 20-period MA for much of the session, indicating sustained short-term bullish momentum.
• Volatility expanded after 20:45 ET, with a high-low range of 0.01066–0.01091, signaling a possible trend continuation.

Opening Summary


SKALE/Tether (SKLUSDT) opened at 0.01051 on 2026-01-16 12:00 ET, reached a high of 0.01091, and a low of 0.01034, closing at 0.01064 on 2026-01-17 12:00 ET. The 24-hour notional turnover was approximately $76,607.59, with a total volume of 7,079,429 SKL.

Structure & Formations


Price formed a bullish engulfing pattern at 0.01039 (17:15–17:30 ET), which marked a turning point in the session. After a period of sideways consolidation, SKLUSDT broke above the key resistance cluster at 0.01076–0.01081. A second
test
of this level occurred after 15:00 ET, with price remaining above it.

Moving Averages and Momentum


The 20-period MA on the 5-minute chart remained bullish for most of the session, with price frequently above the 20 MA. The 50-period MA showed similar support. RSI climbed into overbought territory at 0.01086–0.01090, suggesting short-term exhaustion, while the MACD showed positive divergence in the final hours, indicating potential for a pullback or continuation.

Volatility and Bollinger Bands


Volatility expanded notably after 20:45 ET, with a 5-minute high-low range of 0.01066–0.01091, the largest of the session. Price spent much of the session in the upper half of the Bollinger Bands, particularly after 21:00 ET. This suggests a continuation of the bullish momentum unless a major reversal signal emerges.

Volume and Turnover Analysis

Volume surged between 21:00 and 22:00 ET, with the most active candle showing 7,079,429 SKL traded at a close of 0.01083. This volume spike confirmed the breakout above the key resistance zone. Notional turnover also spiked in this window, aligning with price action and validating the strength of the move.

Fibonacci Retracements


A 5-minute swing from 0.01034 (19:30 ET) to 0.01083 (21:00 ET) saw price retrace to the 61.8% level at 0.01060–0.01065, where it consolidated before moving higher. On the daily chart, the 38.2% retracement at 0.01074 acted as support in the early morning hours.

In the next 24 hours, SKLUSDT may test the 0.01086–0.01090 overbought zone for confirmation or retraction. A break above 0.01095 could signal renewed bullish momentum, but investors should watch for a pullback to test the 0.01066–0.01070 support cluster. As always, be mindful of sudden liquidity shifts or macro events that could alter the trajectory.