SCRTUSDT Collapses Overnight — But Is 61.8% Fibonacci a Safe Haven?

Summary
• Price dropped sharply overnight into the early morning, forming bearish engulfing and strong downward momentum.
• RSI reached oversold levels, suggesting possible short-term reversal; volume surged during the decline.
• Bollinger Bands show expansion in the latter half, indicating rising volatility and consolidation attempts.

At 12:00 ET on 2026-02-07, Secret/Tether (SCRTUSDT) opened at $0.1023, reached a high of $0.1039, touched a low of $0.0946, and closed at $0.0971. Total volume over the 24-hour window was 1,566,064.5, with a notional turnover of $151,760.5.

The 24-hour chart shows a distinct bearish bias, with price forming a broad descending channel. Key support levels emerged at the 0.0960–0.0965 range, where price found a floor twice, suggesting short-term stability. A strong bearish engulfing pattern appeared at 02:30 ET, marking the beginning of the downward trend. On the 5-minute chart, a long bearish candle at 07:00 ET triggered a sharp drop to the session low, followed by consolidation.

MACD turned negative after the 07:00 ET low, with the histogram showing diverging bearish momentum. RSI dipped into oversold territory below 30 in the late morning, hinting at potential short-term bounce. However, the bearish crossover in the MACD and the sustained volume during the decline suggest caution.

Bollinger Bands expanded significantly from 16:15 ET onward, with price frequently testing the lower band, reinforcing volatility. The 50-period moving average on the 5-minute chart remained above price, confirming the short-term downtrend. On a daily basis, the 200-period moving average sits around $0.1015–0.1020, forming initial resistance for any near-term rally.

Volume spiked during the initial breakdown phase, but later declined, signaling a potential pause in selling pressure. Turnover also dropped after the 09:00 ET low, suggesting a possible consolidation phase.

Fibonacci retracement levels from the major high of $0.1039 to the low of $0.0946 show key levels at $0.0995 (38.2%), $0.0977 (61.8%). Price is currently near the 61.8% level, suggesting a potential turning point if it holds.

Looking ahead, the market may attempt to retest support near $0.0960–0.0965, with a possible bounce into $0.0975–0.0980. However, a breakdown below $0.0950 could trigger further momentum to the 0.0930–0.0940 range. Investors should remain cautious due to the fragile support and strong bearish sentiment.