Market Overview for Scroll/Bitcoin (SCRBTC) – 2025-09-11

• Scroll/Bitcoin (SCRBTC) traded in a narrow range today, closing near the 24-hour low with muted momentum.
• Price tested key support near 3.01e-06 and 2.96e-06, with no decisive break below either level.
• Volatility expanded briefly in the late session, but volume failed to confirm new directional intent.
• RSI hovered in oversold territory, suggesting potential for a near-term bounce.
• MACD remained bearish but flattened, signaling possible exhaustion in the downward trend.

Scroll/Bitcoin (SCRBTC) opened at 3.08e-06 on 2025-09-10 at 16:00 ET and closed at 2.98e-06 on 2025-09-11 at 12:00 ET. The 24-hour high was 3.11e-06 and the low was 2.95e-06. Total volume amounted to 73,813.3 SCRBTC, with a notional turnover of approximately $221.15 at Bitcoin’s current price. The pair remained in a tight consolidation phase for much of the day, with price fluctuating between key support and resistance clusters.

Structure & Formations

Price action formed multiple consolidation patterns, including a bearish rectangle between 3.01e-06 and 3.05e-06 in the early hours. A small bearish engulfing pattern was observed around 2.98e-06 in the late morning, indicating a potential short-term continuation of the downtrend. A notable doji formed near 3.02e-06 at 09:30 ET, suggesting indecision among market participants. Key support levels include 3.01e-06 and 2.96e-06, while resistance clusters are seen at 3.05e-06 and 3.08e-06.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA, reinforcing bearish momentum. The 50-period MA sits slightly above the 100-period MA, and the 200-period MA is well above the current price, indicating a longer-term bearish bias. While the short-term trend remains bearish, the flattening of the 20-period MA suggests some exhaustion.

MACD & RSI

The MACD remained negative but flattened throughout the day, suggesting that the downward move may be losing steam. The signal line crossed above the MACD line briefly near 09:30 ET, signaling a potential bearish divergence. The RSI indicator has remained in oversold territory for much of the day, hovering near 30 at the close. While not a strong overbought signal, this suggests potential for a short-term rebound from 2.96e-06.

Bollinger Bands

Price action remained within the Bollinger Bands for most of the day, with volatility expanding slightly in the late morning. The upper band reached as high as 3.11e-06, while the lower band dipped to 2.95e-06. Price closed near the lower band, reinforcing the bearish pressure. However, no clear breakout attempts were confirmed, and the bands remain in a neutral stance.

Volume & Turnover

Volume was relatively low early in the session, with spikes observed around 03:30 ET and 07:15 ET when price moved toward key resistance levels. The largest spike occurred at 03:30 ET as price moved up to 3.10e-06, followed by a bearish reversal back toward support. Turnover confirmed the higher volume spikes, indicating liquidity at those price levels. Divergences were not observed between price and volume, suggesting that price action remains broadly supported by underlying trade flows.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing from 3.11e-06 to 2.95e-06, key levels include 3.08e-06 (23.6%), 3.05e-06 (38.2%), and 3.01e-06 (50%). Price found temporary support at 3.05e-06 and 3.01e-06 before continuing lower. The 61.8% level is at 2.99e-06, which aligns with the close near 2.98e-06. A break below 2.95e-06 would bring the 78.6% level into focus at 2.92e-06.

Backtest Hypothesis

Given the observed structure, including key Fibonacci support levels and bearish momentum signals, a potential strategy could be to short SCRBTC on a break below 2.96e-06 with a stop above 3.01e-06. A take-profit target could be set at 2.92e-06 (78.6% retracement) or lower, contingent on confirmation of the breakout. This approach would align with the MACD flattening and RSI in oversold territory, suggesting a short-term continuation of the bearish trend with defined risk.