Siacoin
Siacoin Price Analysis: Siacoin Price Structure Looking Strong, Above All DMA
- Siacoin price structure is looking stronger as compared to other altcoins, as the price is trading above the short term moving averages of 20 and 50-day lines.
- Currently, SC token is trading above all vital moving averages of 20, 50, 100 and 200-day lines, but the volume activity needs to improve in upcoming trading sessions.
- The pair of SC/BTC is trading on a bearish note at 0.0000004257 BTC with an intraday cut of -2.04%, and the ratio of SC/ETH is CMP at 0.000006453 ETH with a 24-hour change of -1.40%.
Siacoin price set up at the monthly time frame is projecting a strong bullish scenario, as the token is trading above SMA of 20-day. Whereas the coin witnessed strong buying interest from the lower levels, and as a result, the coin jumps above Moving averages lines. Gradually, the momentum favours the bulls, while short-term DMA (20&50-day) are heading towards the major DMA (100&200-day) for a bullish crossover. With supportive volume action, sustainability above all vital moving averages will boost more buyers in upcoming trading sessions.
Volume over the monthly chart is slightly lower and needs to improve for sustainability above major DMA lines. Support on the lower side is at $0.01745 and $0.01205, whereas resistance on the higher side is $0.02450 and $0.02780.
Siacoin price at the weekly chart indicates divergence with price action
Siacoin price at the weekly time frame indicates divergence with the price action, as the technical indicators are heading lower. The coin at the 4-hour time frame is trading sideways after a strong recovery from lower levels. At the same time, the technical parameters are projecting weakness over the chart. Presently, the siacoin price is at $0.0149 with an intraday loss of -5.07%, and the volume to market cap ratio is at 0.1102.
Relative Strength Index (CAUTION): Siacoin price RSI presently indicates a slight bearish or negative trend over the weekly chart. In contrast, the RSI is heading lower after testing the overbought zone and running lower CMP 46.
Moving Average Convergence Divergence (CAUTION): This currently indicates a bearish or cautious trend on the daily chart. The seller’s line (orange) is overpowering the buyer’s signal line (blue).
Support levels: $0.01745 and $0.01205
Resistance levels: $0.02450 and $0.02780.
