Scroll/Tether Dips Below Key Support Amid Bearish Candles and Expanding Volatility

Summary
• Price declined from 0.04266 to 0.04111, forming bearish engulfing patterns midday.
• High volatility observed in early morning with Bollinger Band expansion and volume surge.
• RSI hit oversold levels near 0.04111, indicating potential short-term buying interest.
• 5-minute MACD turned negative mid-session, confirming short-term bearish momentum.

Scroll/Tether (SCRUSDT) opened at 0.04265 on 2026-03-21 12:00 ET, reached a high of 0.04266 and a low of 0.04108, closing at 0.04122 as of 2026-03-22 12:00 ET. Total volume for the 24-hour period was 814,261.7 units, with a notional turnover of 33,457.37 USD.

Structure & Formations

The 24-hour chart showed a distinct bearish bias, with price collapsing below key intraday support levels, most notably the 0.04223 and 0.04134 zones. A bearish engulfing pattern formed at 0.0425-0.04219 in the early session, followed by a long bearish candle at 0.04227 to 0.04171 overnight. The price then continued to probe lower, reaching a 24-hour low near 0.04108.

Moving Averages

On the 5-minute chart, the 20-period MA crossed below the 50-period MA in the late evening, signaling bearish momentum. The 50-period MA acted as a dynamic resistance throughout the day, with the price failing to close above it after 03:00 ET.

MACD & RSI

The MACD turned bearish around 00:00 ET and continued to diverge from price, reinforcing the bearish narrative. RSI reached oversold territory near 0.04111, suggesting a possible short-term bounce, though without a strong reversal candlestick, the move may remain bearish.

Bollinger Bands

Volatility expanded in the early morning as price broke out of a narrow consolidation range, pushing the bands wider. Price remained within the lower band for most of the session, indicating a lack of bullish conviction.

Volume & Turnover

Volume spiked sharply during the early morning session as price fell from 0.04227 to 0.04171, reaching a peak of 347,212.3 units. This was confirmed by the notional turnover of 14,460.90 USD. Later, as price approached 0.04108, volume decreased, signaling a possible exhaustion of selling pressure.

Fibonacci Retracements

Applying Fibonacci retracement to the key 0.04266 to 0.04108 move, the 38.2% level (0.04215) and 61.8% level (0.04168) were tested during the session. The 0.04134 level appears to be a minor support zone based on retracement and volume action.

Price may find near-term support near 0.04108–0.04111, but without a clear reversal pattern or strong volume confirmation, the downward bias could persist. Investors should monitor the 50-period MA and watch for a potential rebound off the oversold RSI level.