Price Analysis

Siacoin Price Analysis: No Positive Vibes Regarding Siacoin’s (SC) Turnaround

eToro

The 5 day chart of SC is indicating several key negative trends, which is making it evident that SC will face dark days ahead, and there is no conviction as of now regarding its quick turnaround. Starting from having effective support resistances to persistence in its upwards trends, everything is lacking in SC’s chart as of now. Moreover, there are no current updates regarding SC’s developments. Although it has a good number of users due to the fact that it is an encrypted, decentralized, peer to peer cloud storage platform, it is currently impacted by the volatility of the cryptosphere.

SC Coin Price Status

  • Price in USD: 0.00305USD (UTC time 06:19)
  • Price in BTC: 0.00000040 BTC
  • Market cap: 136,945,271 USD
  • Market rank: 57
  • Circulating supply: 40,902,626,399 SC

Siacoin Price Prediction and Price analysis

siacoin price chart-May 31

eToro Crypto

The above 5D chart shows that the current price of SC has fully gravitated in the bearish zone amounting to 0.00305 USD. It had reached the highest peak on 26th May 2019, and it had a value of 0.00384 USD then. Afterward, it started declining its price trends are indicating that it had tried to hold its value in the bullish zone to a major extent in spite of the fluctuating nature. The highest peak it had yesterday was 0.00360 USD. It retained its positive value to an extent up to yesterday night but had completely declined today. Within a span of approx. Five days, although the value of SC has spiked up by 25.90%, it also lacks effective support resistances that can provide good back up of its bullish trend. Even the arrow is also indicating a complete bearish zone. Therefore, in the upcoming days, it is expected that SC will probably be on a bearish trend line only with an approx. Value of 0.00300 USD.

Conclusion

SC has completely aggravated towards the bearish zone, and it is expected that it will not make a quick turnaround in the upcoming days. Moreover, the high volatility of the market and the turbulent nature of BTC are inherently affecting the price points of SC. Therefore, it will be a futile idea to invest in SC currently.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

Related Articles

Back to top button