SKYUSDT Breaks Out as Volume Spikes Near 0.0645

Summary
• Price broke out above 0.0630 with bullish engulfing patterns and a 50-period MA crossover.
• Momentum strengthened with RSI above 50 and rising volume post-0.0635.
• Volatility expanded as price traded 8.4% range, breaching upper Bollinger Band.
• Turnover surged to $1.9M in 20:45–21:00 ET, aligning with a sharp upward thrust.
• Fibonacci 61.8% at 0.0635 offered initial resistance before the rally extended past.

Sky/Tether (SKYUSDT) opened at 0.06246 on 2026-02-06 12:00 ET, surged to a high of 0.0654, dropped to a low of 0.06173, and closed at 0.06345 by 12:00 ET the following day. The pair recorded a total volume of 39,282,746.0 and a notional turnover of $2.56 million over the 24-hour period.

Structure and Key Levels

The price displayed strong bullish conviction after breaking above the 0.0630–0.0635 consolidation range, with a bullish engulfing pattern forming near 0.0635. A 50-period MA crossed above the 20-period MA around 0.0633, reinforcing the upward shift in momentum. Key support levels held at 0.0625 and 0.0617, but the price decisively rejected these in favor of higher levels. Resistance at 0.0647 was tested twice, suggesting potential short-term ceiling.

Momentum and Indicators

The RSI trended upward into the 55–60 range during the peak rally, indicating strengthening momentum without yet entering overbought territory. The MACD crossed above the signal line with increasing histogram bars after 20:45 ET, aligning with the sharp price move. Price also traded above the upper Bollinger Band in the final hours, signaling heightened volatility and a continuation bias.

Volume and Turnover Divergences

Volume spiked sharply at 20:45–21:00 ET, with a 5-minute candle moving from 0.06366 to 0.06456 amid a volume of 11,974,685 and turnover of $772,799. This suggests strong buying pressure at the peak of the rally. A divergence appeared after 02:00 ET, with declining volume despite continued price consolidation above 0.0635.

Fibonacci and Retracement Levels

A key 61.8% Fibonacci level at 0.0635 was respected before the price pushed higher. The daily chart’s 200-period MA remains below current levels, indicating the rally is still in its early phase.

Sky/Tether may continue testing the 0.0647–0.0650 range in the coming 24 hours. A close above 0.0647 could signal a new short-term uptrend, while a retest of 0.0635–0.0638 may offer buying opportunities. Investors should remain cautious as volatility remains elevated.