SKLUSDT Market Overview: Range-Bound Session with Late-Breaking Optimism

Summary
• Price opened at $0.01021 and closed at $0.01026 after a choppy, range-bound session.
• A bullish engulfing pattern emerged in the final 30 minutes, suggesting short-term buying interest.
• RSI moved into overbought territory near the end, hinting at possible near-term profit-taking.
• Volume increased during the final 4 hours, though notional turnover remained moderate.

SKALE/Tether (SKLUSDT) opened at $0.01021 on 2025-12-17 12:00 ET, reached a high of $0.01053, fell to a low of $0.01004, and closed at $0.01026 as of 2025-12-18 12:00 ET. Total volume over 24 hours was 29.7 million, with $317,162 in notional turnover.

Structure & Formations

Price action remained within a $0.01004–$0.01053 range, with key support identified around $0.01018–$0.01021 and resistance at $0.01036–$0.01044. A bullish engulfing pattern formed in the final hour of the period, suggesting renewed buying momentum.

Moving Averages and Momentum

On the 5-minute chart, the 20-period and 50-period SMAs remained tightly clustered, indicating low trend strength. MACD showed a positive divergence late in the session, aligning with a bullish price move. . RSI pushed into overbought territory, suggesting the potential for a near-term correction.

Volatility and Bollinger Bands

Volatility remained moderate, with price hovering near the middle of the 20-period Bollinger Bands for much of the period. A slight expansion in band width occurred after 22:00 ET, reflecting increased activity.

Volume and Turnover

Volume surged in the final 4 hours, reaching a peak of ~1.37 million at 13:15 ET, coinciding with a rally toward $0.01032. Notional turnover remained proportional to volume, with no notable divergence observed.

Fibonacci Retracements

A 38.2% retracement level at $0.01032–$0.01034 acted as a key pivot, with price testing and bouncing off this level multiple times. A 61.8% retracement at $0.01012 served as a short-term support anchor.

In the next 24 hours, SKLUSDT may test the $0.01044 resistance level if bullish momentum persists. However, traders should remain cautious of a potential pullback to $0.01021–$0.01018 in the event of profit-taking or renewed risk-off sentiment.