The first thing that went through my mind was? Is that one of the data lines? If so, what if you just connect that clip to ground. Sure, it won't remove it from the screen, but if it remains a y=0 line, then it's probably not so bad - perhaps even just 'disappear' into the axis marker.
I'm certainly not in any position to know, though my guess is that it's a bad solder join on a capacitor somewhere. It looks like a 3.2v peak, which could make sense if there was a bad path to ground. Since there's an sd card in there, at least part of the system has to be 3.3v.
So first, I'd try to ground the channel. Next I'd consider getting out the 10x (or more!) magnifier to look for bad joints.