Market Overview: Scroll/Bitcoin (SCRBTC) 24-Hour Analysis

Summary
• SCRBTC formed a bearish engulfing pattern near 9.9e-07, signaling potential downward momentum.
• Price tested support at 9.6e-07, rebounding but failing to close above previous lows.
• Volume surged in the 05:00–06:15 ET window, coinciding with a rally to 9.5e-07.
• RSI indicated overbought conditions midday but failed to confirm a breakout, suggesting weakening bullish conviction.
• Bollinger Bands widened in the early morning, reflecting increased volatility before consolidation.

Scroll/Bitcoin (SCRBTC) opened at 9.9e-07 on 2025-12-10 12:00 ET, reaching a high of 9.9e-07 before closing at 9.4e-07 on 2025-12-11 12:00 ET. The 24-hour low was 9.2e-07. Total volume traded amounted to 134,491.0, while notional turnover reached approximately 126.3 (based on average price).

Structure & Formations

A bearish engulfing pattern formed at 9.9e-07 around 20:30–20:45 ET, indicating bearish sentiment. Price later found support at 9.6e-07 but failed to close above it, suggesting a potential short-term reversal may be at risk if this level breaks.

Moving Averages

On the 5-minute chart, the 20SMA dipped below the 50SMA, reinforcing bearish momentum. On the daily timeframe, price appears to trade below the 50DMA, indicating a medium-term downtrend.

Momentum and Volatility

RSI showed overbought conditions around midday but failed to confirm a breakout, hinting at diverging momentum.

Bollinger Bands expanded in the early morning hours, reflecting heightened volatility followed by consolidation. MACD crossed into bearish territory after 03:00 ET, aligning with the price decline.

Volume and Turnover

Trading activity spiked around 05:00–06:15 ET, coinciding with a rally to 9.5e-07. However, this surge was not matched by a strong reversal, pointing to potential exhaustion. Notional turnover remained moderate, with divergence noted during late-night consolidation.

Key Levels and Fibonacci

Immediate support appears at 9.2e-07 and 9.1e-07 (61.8% and 78.6% levels of the 9.2e-07–9.9e-07 move). Resistance could be found at 9.5e-07 and 9.6e-07. A break below 9.2e-07 may trigger a test of the 38.2% retracement at 9.0e-07.

Looking ahead, SCRBTC appears poised to test key support levels, with the potential for further consolidation or a breakdown below 9.2e-07. Investors should remain cautious about the bearish bias and monitor for a reversal signal or confirmation of a new trend.