Market Overview for Scroll/Bitcoin (SCRBTC) – 24-Hour Technical Summary

Summary
• Price drifted lower intraday, forming bearish consolidation below 8.7e-07.
• Volume surged in overnight hours, confirming bearish momentum.
• RSI shows neutral to slightly oversold levels, with no clear divergence.
• Bollinger Bands narrow, suggesting potential for a breakout or false move.

Scroll/Bitcoin (SCRBTC) opened at 8.7e-07 on 2026-01-11 12:00 ET, reaching a high of 8.8e-07 and a low of 8.3e-07 before closing at 8.5e-07 at 12:00 ET on 2026-01-12. Total volume was 40,921.2 units, and notional turnover was approximately 0.0346 BTC.

Structure & Formations

Price action displayed a bearish drift with no strong reversal signals. A minor breakdown from 8.7e-07 to 8.5e-07 was confirmed by late-night volume and close. Key support appears to be forming near 8.3e-07, while resistance remains at 8.7e-07.

Moving Averages

On the 5-minute chart, the 20-period and 50-period SMAs have drifted lower, maintaining a bearish bias. The longer-term moving averages are not clearly defined in the dataset, but the trend appears to be downward.

MACD & RSI

MACD shows bearish momentum with a shrinking histogram and a negative crossover, reinforcing the downside bias. RSI sits in neutral to slightly oversold territory, indicating potential for a minor rebound, though no divergence exists to confirm a reversal.

Bollinger Bands

Bollinger Bands have contracted over the last few hours, suggesting a potential increase in volatility or a false break. The price remains in the lower half of the band, consistent with bearish consolidation.

Volume & Turnover

Volume spiked significantly overnight between 01:15 ET and 07:00 ET, with a large 5-minute candle at 01:15 ET confirming a breakdown. Notional turnover rose sharply during this period, supporting the bearish move.

Fibonacci Retracements

On the 5-minute chart, the move from 8.8e-07 to 8.3e-07 sees SCRBTC currently near the 50% retrace level. A break below 8.3e-07 would likely test the 61.8% level at ~8.23e-07.

Price may test the 8.3e-07 level over the next 24 hours, with a potential bounce or breakdown expected. A move above 8.7e-07 would suggest a false bearish signal, though risk remains skewed to the downside for now.