TKO’s Overnight Rally Fizzles as Volume Diverges

Summary
• Price opened at $0.0640 and advanced to $0.0657 before retracting to $0.0626.
• A key 61.8% Fibonacci level at $0.0642 appears to offer support during pullbacks.
• Volume surged in the overnight hours, aligning with price highs but diverged near lows.
• RSI remains neutral, suggesting no clear overbought or oversold conditions.
• A bullish engulfing pattern appears near the peak, hinting at potential bearish exhaustion.

Toko Token/Tether (TKOUSDT) opened at $0.0640 on 2026-02-06 12:00 ET, surged to $0.0657, dropped to $0.0626, and closed at $0.0628 by 12:00 ET the next day. Total volume reached 558,563.1, while turnover totaled $35,293.67 across the 24-hour period.

Structure and Formations

The 5-minute chart shows a strong bullish impulse in the overnight hours, peaking at $0.0657 before a sharp correction. A bullish engulfing pattern formed at the top, indicating potential bearish exhaustion. The pullback found support near $0.0642 (61.8% Fib level) and $0.0630, with key resistance now at $0.0646 and $0.0650.

Moving Averages and Momentum

Short-term 20-period and 50-period moving averages on the 5-minute chart crossed over, confirming the initial bullish thrust. However, as price retraced, the 50-period MA started to flatten, suggesting weakening momentum. RSI remains within the 50–60 range, indicating moderate bullish pressure but not overbought conditions. MACD remained positive during the rally, confirming the initial move higher, but flattened with the pullback.

Volatility and Volume

Bollinger Bands expanded during the rally, showing increased volatility. Price peaked outside the upper band and then fell below the lower band during the correction. Volume spiked during the overnight high but dropped significantly after the pullback began, suggesting a loss of conviction.

Forward Outlook and Risk

Price appears to be consolidating below $0.0635, and a break below $0.0628 could test the next support near $0.0626. A rebound above $0.0642 may confirm short-term bullish momentum. Investors should watch for volume confirmation with any move above $0.0646, as failure to hold above $0.0630 could signal further weakness.