- The Trading volume of Siacoin in last 24hr and at the time of writing this article is +102%
- The price of SC/BTC and SC/ETH at the time of writing this article is 0.00000036BTC and 0.00000520ETH respectively
- The price taking support on the 100MA
LONG TERM VIEW:-
We can see the price is taking support on the 100AM in daily time chart intervals meaning the bulls are trying to push the price up and not losing the fight with the bears. Now let’s take a look at the technical indicator we can see the MACD is showing red histograms, meaning the MACD line is below the Signal line and there is no sight of the trend to change. In addition to that we can have a look at the RSI, which is in a neutral zone right near 39 and is pointing towards the oversold zone (30) but it can change anytime depending on the volume of bulls. Lastly we can have a look at the moving average as the 20MA and 50MA is very close and 20MA pointing towards the 50MA but both are above the 100MA.
SHORT TERM VIEW:-
We can have a look at the 4hr time frame and see there is green candle formation after the 3 black crows candle formation. Looking at the MACD we can see that it is showing a red histogram, meaning the MACD line is below the Signal line and we can see that there is a slight change in the direction of the MCAD line. In addition to that we can see the RSI is just above the oversold zone near 32 which is a neutral zone. Lastly we can see that 20MA and 50MA is below the 100MA, moreover the 20MA is below the 50MA.
CONCLUSION:-
Looking at both long term and short term. we can see the trend is bearish and in the 4hr frame it is also bearish and we can see that the trend is changing as the RSI is out of the oversold zone and is in a neutral zone. Whereas, we can see that there is a change in the sentiment of the people. If the bulls come in a huge volume then take the price up or else the sellers will take control of the price again.