The entrance to Moonlit Cove is close to the water. Just follow the shoreline and you’ll spot something that looks like a stone temple. Shezar the Sibilant, a Kajiit, will await you near the entrance, offering you a quest to cleanse the sacred shrines inside the delve for a prize.
Continue forward from the entrance, towards the northeastern part of the cave. As you leave the tunnel leading to this large area, you’ll spot a rope bridge nearby. You should also be seeing the skyshard’s light on the other side of the cave, on top of a waterfall. Cross the rope bridge and fight off the Ruddy Fang members that might be following you. Close to the shrine near the edge of this pond, you can find a rock that divides the waterfall into two streams. This rock holds the skill point we are after. The jump from here is totally safe, not dangerous at all.