Siacoin Price Analysis – SC/USD
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Siacoin, the 50th largest altcoin by the market cap which is traded at $98,281,901 (05:44 UTC) on January 25 dropped in current value by 44% relative to December 18 last year however it gained in value by 13.8% compared to December 14 last year as interpreted from the graph above.
As we can analyze from the graph above, the SC/USD pair gained in value by creating “ascending top” from December 15 until today. Amid this, the SC/USD pair remained ‘uptrend’ from December 18 to December 25 last year as interpreted from the graph above which signifies the bullish trend.
Both the moving averages have declined since November 06 last year thereby creating downward pressure over the value as interpreted through the line in the graph above. Since current value trades 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 and all those community users that long awaited to invest in this cryptocurrency should remain on the sideline until the next ‘uptrend’ takes place!
Let us not forget that this altcoin traded similarly with 20-day EMA and may expect to trade beyond it thereby creating “uptrend” in value. Investors may explore to create long position since then.
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 24 last year, as the cryptocurrency rallied from a low of $0.0060 to a high of $0.0077 which is a 28 percent return within 13 days.
As we can quickly analyze from the graph above that the current MCap trades $98,281,901 (05:44 UTC) with the Price (BTC) 0.00000070 and Price/USD 0.002518 (05:45 UTC) 24h Volume 1,232,025USD (05:445 UTC) .
The aforesaid graph states that the Price (USD) all-time high on January 10 traded above MCap and Price (BTC). Since then it dropped dramatically and until January 11 (UTC), and from then Price (BTC) took the lead until today (05:52 UTC) where it traded above both MCap and Price (USD). Let us not forget that this altcoin experienced upward pressure on price and may expect to offer the desired outcome going forward especially when the next uptrend takes place which can be analyzed from the graph first.
While we can estimate from the first graph, if bulls succeed in rising and sustaining above the current resistance level $0.0026 (06:04 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 $0.0027.
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Please feel free to visit https://sia.tech/ to know more about this cryptocurrency!