Siacoin Price Analysis – SC/USD

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Siacoin, the 48th largest cryptocurrency with its current market cap Traded at $97,991,873 (09:39 UTC) on January 22, dropped in current value by 18% compared to December 24, 2018, as analyzed from the graph above. The significant fall in value was due to the strong bearish pressure, macro factors and of courses competitive forces from around the world. With this, the SC/USD pair remained ‘uptrend’ from December 19 to December 25 last year as interpreted from the graph above which signifies the bullish trend since the SC/USD pair increased in value by 15.77% compared to December 13, 2018, which can well be analyzed from the graph above, which signifies the bullish trend going forward.

Since both moving averages have declined since last year thereby creating downward pressure over the value as interpreted through the line in the graph above, however the current value traded below the 20-day EMA, which signifies ‘downtrend’ in value, amid this SC shows that the bears have the upper hands as the SC/USD pair remains in bearish trends for some time until the next “uptrend” takes place. Traders should remain on the sideline until the next ‘uptrend’ takes place! Let us not forget that the SC may cross the current range and may create uptrend in value.

Now let me walk you through certain milestone that this cryptocurrency attained in the recent past. The SC/USD pair remained range bound from October 11 to October 23 last year, as the cryptocurrency rallied from a low of $0.0059 to a high of $0.0077 which is a 30.5 percent return within 12 days.

As we can quickly analyze from the graph above that the MCap traded at $97,991,873 (09:39 UTC) with the Price (BTC) 0.00000069 and Price/USD 0.002461 (09:41 UTC) 24h Volume 889,500 USD (19:41 UTC) .

As we can estimate from the chart about that the Price (BTC) traded all-time high on January 10 above both MCap and Price (USD) pair, however since then, it decreased dramatically until January 10, and from then it started gaining upward moments which signifies that how investors are bullish to invest in this currency. Again today the Price (BTC) traded at the fullest (09:54 UTC) which can be interpreted from the graph above.

While we can estimate from the first graph, if bulls succeed in rising and sustaining above the current resistance level $0.00260 (09:54 UTC) and create “uptrend” in value (i.e., traded above the EMA) the investors will start buying this currency more and more thereby increasing its value. However, based on the current trend, the next support level could be $0.0026.

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Please feel free to visit https://sia.tech/ to know more about this cryptocurrency!

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