Siacoin Coin Price Falls More Than 35% in Last Three Days, Soon to Hit $0.035 Mark

SIACOIN MIGHT FALL BELOW $0.035
  • SIACOIN coin price rallied more than 250% in the last three weeks before facing a 35% fall in the previous week.
  • SC coin might fall another 15-20% in the upcoming week. 
  • Currently, the SC coin is trading close to the $0.04 level.
https://s3.tradingview.com/snapshots/l/lFz5J7M1.png

SC coin has been making a higher high and higher low, indicating a clear uptrend in the last two months, but the recent rejection of 35% from the $0.06 level might halt the trend for a while.

The price is currently above 50 EMA (yellow), which is above 200 EMA (white), implying a clear uptrend. Adx has spiked a little indicating a gain in falling momentum.

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The market capitalization of the coin is $1,903,902,453 (-15.32%) and the 24 hour volume is $650,520,333 (-21.81%). 

Buy the Dip or Wait to Sell the Tip

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Siacoin has managed to sustain the uptrend for months now, but the recent rejection might halt the growth of SC coin price. However, the support provided by the zone near the $0.0.38 level has kept the price up for now. $0.049 and $0.061 levels will resist the restart of the uptrend. However, the fall will be supported by $0.03 and $0.023 levels.

The price is supported twice by the 50 EMA (yellow), which is above the 200 EMA (white), implying an uptrend. 

The RSI indicator (Neutral, 48) is sloping on the downside, the same as the ADX indicator (28), implying a loss of momentum in the downtrend as the price reaches the oversold zone.

Conclusion

The price range of $0.039 and $0.049 might hold the price in consolidation for a while. And the breakout possibility is more than the fallout possibility as the loss of volume and momentum in the downside movement of price indicates that most traders and investors are bullish for now.

Support – $0.030

Resistance – $0.06

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Vishal Dixithttp://www.thecoinrepublic.com
Vishal Dixit is a technical analyst with over a year of experience in the Indian stock market. He likes to read, learn and practice more about cryptocurrency, Forex, and Equity. He possesses strong technical and analytical skills in the financial market which comes from a strong background as a chemistry graduate and chess enthusiast.

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