- Siacoin is trading under the narrow range and is placed between short-term moving averages and long-term moving averages.
- The crypto asset has recently witnessed the rejection of the 20-day SMA line while still holding the 200-DMA line, with lower volume action.
- The pair of SIA/BTC is trading on a minor negative note at 0.000000396 BTC with an intraday loss of -0.71%, and the ratio of SIA/ETH is CMP at 0.000005273 ETH with an intraday action of -4.85%.
Siacoin at the monthly chart is trading in narrow zone and is placed near the critical support line of 200-day. The digital asset is facing the resistance of the 20-SMA line on the higher side while gaining the support of 200-DMA. Volume is the primary concern for short to medium-term traders, as it falls below the average volume line.
On the higher side, we can expect a bullish move if LTC suppress its 20-SMA line with a supportive volume action. Support on the lower side for the medium-term trend is considered 100 and 200-DMA. Support on the lower side is $0.01800 and $0.0730, whereas resistance on the higher side is $0.02050 and $0.02370
Siacoin is trading under the wedge pattern at the 4-hour TF
Siacoin is trading under the wedge pattern at the 4-hour time frame. In contrast, the technical parameters show signs of a pullback after a good gain from lower levels. The breakout from the pattern over the weekly chart will create an impulsive solid move in any direction. Volume activity at the chart is lower and recorded near the average line. Currently, Siacoin is trading at $0.01879 with an intraday loss of -1.42%, and the volume to market cap ratio is at 0.0522.
Relative Strength Index (BEARISH): siacoin RSI is heading downward after facing rejection on the higher side at the weekly chart. In contrast, the RSI trades on a bearish note and heading towards the oversold zone, now CMP at 49.
Moving Average Convergence Divergence (NEUTRAL): The daily chart indicates a neutral trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) and the seller’s line (red) overlaps.
Support levels: $0.01800 and $0.0730
Resistance levels: $0.02050 and $0.02370.