SKLUSDT Breaks Down on Surging Volume, Hitting 5.4% Loss

Summary
• Price formed a bearish engulfing pattern near 0.00691–0.00701, followed by a retest to 0.00661.
• RSI hit oversold territory at 25, suggesting potential short-term rebound.
• Volume spiked during the 18:00–20:00 ET bear wave, confirming downward momentum.
• Bollinger Bands constricted in the final 4 hours, hinting at a possible breakout.
• SKLUSDT closed 5.4% lower at 0.00658 with strong intraday volatility.

The SKLUSDT pair opened at 0.00672 on 2026-02-25 at 12:00 ET and reached a high of 0.00709 before closing at 0.00658 on 2026-02-26 at 12:00 ET. The 24-hour low was 0.00645. Total volume traded was 52,993,500.0, with notional turnover of 358,049.3.

Structure & Formations

A key bearish engulfing pattern formed during the 18:00–18:15 ET window as price moved from 0.00691 to 0.00701 and closed at 0.00690. This pattern was later retested at 0.00661–0.00665 with bearish continuation. A potential support zone appears at 0.00661–0.00665, with 0.00655 acting as a shallow floor.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages remained bearish throughout the session, with price staying below both. On a daily basis, the 50-period moving average is near 0.00678, and the 200-period MA is at 0.00684. SKLUSDT closed below all major daily MAs, reinforcing bearish sentiment.

MACD & RSI

The 12:00–12:15 ET MACD line crossed below the signal line, signaling bearish momentum. RSI reached 25 by 23:45 ET, indicating oversold conditions. A potential rebound may be in play but lacks confirmation from bullish candlestick formations.

Bollinger Bands

Bollinger Bands constricted in the final 4 hours of the 24-hour period, especially from 08:00 to 12:00 ET. Price closed near the lower band at 0.00658, suggesting that a breakout could follow if buyers enter above 0.00663.

Volume & Turnover

Volume surged during the bearish wave from 18:00 to 20:15 ET, peaking at 9,745,239.0 in a single 5-minute candle. Turnover rose in tandem, confirming the bearish breakdown. Volume declined sharply in the final 4 hours, suggesting consolidation or uncertainty ahead.

Fibonacci Retracements

A 5-minute retracement from the 0.00691–0.00701 high to the 0.00661 low showed a 38.2% retest at 0.00682 and a 61.8% retest at 0.00671. The daily move from 0.00672 to 0.00645 saw a 38.2% level at 0.00660 and a 61.8% level at 0.00656—both close to the current close.

With Bollinger Band contraction and RSI at oversold levels, SKLUSDT may test 0.00656–0.00660 in the short term. However, a lack of strong bullish confirmation suggests volatility could persist. Traders should watch for a breakout above 0.00663 to assess near-term direction.