- SC coin price is currently observing a strong downside momentum which can push it below the 100DMA . It is currently down by more than 0.5% in the intraday session
- Technical indicators for Siacoin hint towards a strong bearish momentum in price. In contrast, SC/BTC pair is up 1.5%
SC coin market dominance along with its market cap has seen a decline in the past few days. Siacoin has to travel more than 80% of its current value to breach its all time high. The volume to market capitalization ratio of the coin suggests a downside momentum in price
Why Invest In SC Coin?
SC coin price is seeing a strong downtrend which can lead it to lower levels. Siacoin has seen a gain of 1% in the intraday session and is trading near the value of $0.0183. Siacoin wants to build a platform which can compete the existing storage solutions. The coin inception began in 2013 by David Vorick while he was studying computer science. Siacoin is a utility token of Sia blockchain which is a decentralized cloud storage platform. Siacoin is currently observing a downtrend but can soon revert to the uptrend. One can invest in SC coin according to their needs and risk capacity
Technical Indicators Of SC Coin Price Suggests A Downtrend In Price For The Future
The weekly technical chart of SC coin price hints towards a strong downside momentum for the future. The daily chart of the coin price suggests a bearish trend in price for the future. The price of the asset is trading above the 50 and 100 Daily Moving Average. It can soon observe a breakout below the 50 and 100 DMA, which can push the price further low. The 100 MA line is currently near the value of $0.1558 making it a temporary bounceback region for the price. The token price upside trend can face a hostility near the value of $0.3. Meanwhile, support in the price can be found near $0.01 in the downside trend. SC/BTC might also see a breakout from the previous resistance in future
Conclusion
SC coin price is observing a downside momentum and can soon see a new low . SC/BTC pair might also test the lower support in future
Technical Levels
Major Support:$0.01
Major Resistance:$0.03