Market Overview: SCRBTC Stuck in Narrow Range Amid Low Volatility

Summary
• SCRBTC consolidates tightly between $0.00000085 and $0.00000087, with no significant directional bias.
• Volume spikes at 20:15 ET drive a small bearish move, but activity remains muted overall.
• RSI and MACD suggest low momentum with no overbought or oversold signals.
• Bollinger Bands show low volatility, with price lingering near the midline.
• Fibonacci retracements show consolidation around key 50% and 61.8% levels.

Market Overview

Scroll/Bitcoin (SCRBTC) opened at $0.00000087 on 2026-01-16 at 12:00 ET, hit a high of $0.00000087, and closed at $0.00000087 by 12:00 ET on 2026-01-17. The pair traded in a narrow range with a 24-hour volume of 49,674.4 and a notional turnover of $0.0433.

Structure & Formations

Price action on the 5-minute chart shows SCRBTC bound within a tight $0.00000085 to $0.00000087 range, with no clear reversal or breakout patterns. A small bearish rejection appears at 20:15 ET as price drops to $0.00000085, but lacks follow-through.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages are closely aligned near $0.00000086. Daily moving averages show no immediate directional bias, with SCRBTC trading near its 50-day average.

Momentum & Volatility

Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) both indicate a lack of momentum, with RSI hovering near the midline and MACD showing no significant divergence. Bollinger Bands remain narrow, indicating low volatility and limited conviction in either direction.

Volume & Turnover

Trading volume spikes at 20:15 ET with 20,307.8 units traded, pushing price down to $0.00000085. However, turnover remains low, with SCRBTC seeing minimal reallocation of capital. Price and turnover are aligned, with no divergence noted.

Fibonacci Retracements

The most recent 5-minute swing retracement shows SCRBTC consolidating near key 50% and 61.8% levels, suggesting it could find near-term support or resistance in this range. Daily retracements are not significantly tested, with the pair remaining in a consolidation phase.

SCRBTC appears to be in a period of consolidation, with no immediate signs of a breakout or breakdown. Traders may want to watch for a decisive move beyond the $0.00000085 support or $0.00000087 resistance before committing to directional trades. As always, sudden liquidity shifts or news events could disrupt the current range.