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Siacoin price analysis: SC bulls mark 11 percent gains, as trading volume surges big time

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  • SC met resistance at $0.020 as per Siacoin price analysis.
  • Trading volume is high beyond assumptions.
  • Support for SC is present at $0.016.

The Siacoin price analysis shows bullish traits as the price has increased today. Yesterday Siacoin showed good performance as the price level rose from $0.016 to $0.018. Today bulls continued their lead and took the price further high to $0.020 in just one hour at the start of the session, but the selling pressure seems to be quite strong at this level for the 100th cryptocurrency, as SC/USD met resistance, the bears reduced the price down to $0.0185.

The Siacoin price value shows a significant gain of more than 11 percent over the last 24 hours and a marvelous 33 percent gain in price value over the last seven days, ranking it among the top 100 cryptocurrencies.

SC/USD 1-day price chart: Trading volume goes through the roof with a 1300 percent increase

Yes, you read it right; SC/USD trading volume has increased over 1300 percent during the last 24 hours, as Siacoin price analysis suggests. Speculating over such an increment in trading volume is a touchy subject, but it is very vast as compared with the trading volumes of the top altcoins. Over the last week, SC/USD observed a healthy recovery from the past month’s downtrend, as the price increased significantly during the past few days, with yesterday marking the biggest gain.

Siacoin price analysis: SC bulls mark 11 percent gains, as trading volume surges big time 1
SC/USD 1-day price chart. Source: Tradingview

The volatility is almost constant for SC/USD with the upper Bollinger band at the $0.019 mark and the lower band at the $0.012 mark; the coin’s price is trading near the upper band, indicating a bullish trend, but there seems to be more space for the price function to move down.

The relative strength index is hovering in the upper half of the neutral zone, the RSI rose to the upper half on 4th October, indicating increasing buying activity, but now indicates a tough competition among both sides of the market as its upwards movement has slowed down.

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The MACD oscillator indicator is currently bullish, as is evident from the dark green color of the histogram. The size of histogram bars also shows improvement due to the rise in price for the past few days.

Siacoin price analysis: Recent developments and further technical indications

The 4-hour price chart for Siacoin price analysis shows the bears are giving tough competition as they have devalued the price significantly during the last few hours and are still ruling the price function if observed over an hourly basis.

Siacoin price analysis: SC bulls mark 11 percent gains, as trading volume surges big time 2
SC/USD 4-hours price chart. Source: Tradingview

The volatility has increased as the Bollinger bands show expansion, providing a bigger envelope for the price to move around. The RSI has also dipped down and entered the neutral zone; the steep curve of RSI during the current hours shows an intense selling activity in the market.

The short-term and mid-term moving averages, along with the majority of other technical indicators, support the bullish trend and give an indication for buying of SC/USD assets.

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Siacoin price analysis: Conclusion

The Siacoin price analysis shows good prospects for the mid-term traders, as the last week’s price trend line is upwards. But a correction might come in the way any time soon, as is obvious from the price function of the last few hours. The overall circumstances are favorable for the SC/USD pair, and the price may improve up to $0.022 in the next 24 hours.

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Siacoin (SC) Should be Listed on Coinbase and There Should be More Supply and Demand

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Someone from the Siacoin Army expressed:  It’s entirely possible we could see Siacoin hit £1 in the next 5 years. To put that into context, if you invest £1750 today you could see £100,000 in 5 years. NFA Siacoin Army.

A concerned investors stated:  1. it should be listed on coinbase. 2. Need more supply and demand 3.  Burn.  If what I said is done, yes, the coin can rise, but it does not give. It just looks like There is actually people that understand this.

Fortunately, Siacoin is available on most major Crypto exchanges such as Binance or Kraken. You can pay for Siacoin using your country’s currency or trade Siacoin using cryptos such as Bitcoin or Ethereum.

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Some analysts opine that SC is a good investment in 2021. Above all, SC has a high possibility of surpassing its current ATH at about $0.1117 by 2021 – 2023.

While all these discussions are happening, those who missed the boat on Siacoin for the bullish run are prospecting on where to enter.  Some are entering due to FOMO and others are waiting for that dip. And, many investors are like, “Siacoin We Believe in You.” They strongly believe that decentralized storage will play a major role in the future.

Meanwhile, Opacity will use Sia as a storage provider in the backend.  Opacity Storage is for 100% private file storage and file sharing. No personal data required. Get 10GB storage for free.

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Reportedly, about Opacity in September, Sia storage – Sia integration is tested and working. Enabling integration in app + a new Sia plan. The cost will align with the current cost of Sia, so more expensive than Opacity, but consumer choice! The plan will use Sia storage across web, desktop and mobile. Beta ETA 9/24.

For clarity, Opacity Drive – Desktop app for Windows and Mac is now in pre-beta testing to make sure it is ready for beta release to the general public. Beta ETA 9/10.

Opacity Mobile – Mobile app for iOS and Android is in final testing. We are completing all features and preparing for beta release later this month. Beta ETA 9/20.

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Also, Cross Chain Support – Enabling payment support for OPCT on Polygon network. Likely live in October. Uniswap liquidity will change to support Polygon liquidity on Quickswap instead. We will pay for any fees to pool members to move to Quickswap when we are ready, very likely in Oct.

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Siacoin Price ‌Analysis:‌ Siacoin Price Structure Looking Strong, Above All DMA

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  • 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%. 
tradingview

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

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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). 

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Support levels: $0.01745 and $0.01205 

Resistance levels: $0.02450 and $0.02780. 

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Siacoin Price Analysis: SC Coin Price Struggles To Break Above The Upside Parallel Channel

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  • SC coin price is currently seeing a correction on the daily chart which can push it down to $0.107 . It has observed a loss of more than 2.3% in the intraday session
  • Technical indicators for Siacoin suggest a downtrend in price for the future . In contrast, SC/BTC pair has seen a loss of 2.33% in the past 24 hours

SC coin is currently ranked 89th  in the cryptoverse and has a market dominance of more than 0.05%. Siacoin is down by more than 81% from its all time high. The volume to market capitalization ratio of the SC coin hints towards a consolidated momentum

Why Invest In SC Coin?

SC coin price is currently seeing a correction on the daily chart which can push it to a lower level. Siacoin is currently near the value of $0.0211 and has seen a loss of more than 2.14% in the past 24 hours. The long term goal of the Siacon is to compete with the existing storage solutions. The idea of SC coin first came into 2013 by David Vorick while he was studying the computer science. Siacoin is a utility token of Sia blockchain which is a decentralized cloud storage platform. Siacoin is currently seeing a downside momentum on the daily chart but can soon revert to the uptrend. One can invest in SC coin as per their risk capacity and price action scenario.

SC Price Technical Indicators Suggests A Consolidated Momentum In Price

Source: Trading view

The weekly technical chart of Sia price suggests a downside momentum for upcoming days. The daily chart of the asset price suggests a consolidated momentum for the future. The price of the asset is trading above the 50 and  100 Daily  Moving Average. There is a positive crossover which can act as a positive catalyst to push the price further high. The 100 MA  line is currently near the value of $0.1536  making it a temporary support region  for the price. SC token price bullish momentum might face a resistance near $0.03. Meanwhile, support in the price can be seen near $0.01 in the downside momentum. SC/BTC pair can also see a strong bullish momentum in future

Conclusion

SC coin  price is currently seeing a correction on the daily chart but can soon revert to the uptrend. SC/BTC pair can also jump to a new high in the future

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