SC USDT Siacoin Technical Analysis

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By Frans van Elst

Siacoin logo In this Siacoin technical analysis, we will examine the current price action, trading volume, key levels and indicators for SC-USDT. Siacoin (SC) is a decentralized storage platform that leverages blockchain technology to provide secure and scalable data storage solutions. With its innovative use of smart contracts, Siacoin enables users to rent out unused hard drive space and earn passive income. Additionally, Siacoin’s decentralized architecture ensures that data is stored in a secure and immutable manner, protecting against data breaches and censorship.

Siacoin Price Overview:

As of May 13, 2024, Siacoin is trading at approximately 0.00672 USDT. Let’s dive into the detailed price action for SC-USDT:

Assess Siacoin’s (SCUSDT) risks at 6.72e-03 USDT with bearish technical analysis, highlighting weakened support and cautionary indicators.

Metric Value
Open (O) 0.00675
High (H) 0.00678
Low (L) 0.0064
Close (C) 0.00672
Volume (C) 164,841,109.00
  • Open (O): The opening price for today’s trading session was approximately 0.00675 USDT.
  • High (H): Siacoin reached a daily high of around 0.00678 USDT.
  • Low (L): The daily low for SC-USDT was approximately 0.0064 USDT.
  • Close (C): At the time of analysis, Siacoin is trading near its daily close of 0.00672 USDT.
Metric Value
1D Change (%) -0.37%
3D Change (%) -1.54%
7D Change (%) -6.24%
30D Change (%) -3.57%
90D Change (%) -30.23%
YTD Change (%) 0.79%

Over the past three days, SCUSDT has dropped by approximately -1.54%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -6.24%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with SCUSDT maintaining a downward trend of approximately -3.57%, despite intermittent fluctuations. Examining the last 90 days, SCUSDT has witnessed substantial drop of approximately -30.23%, reflecting strong long-term confidence. Year-to-date, SCUSDT has steadily appreciated by around 0.79%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Siacoin Live Chart:

You can access a live price chart for SC-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.39118.
  • Momentum score is -0.16694.

SC USDT Technical Analysis

Siacoin Trading Volume:

The trading volume for Siacoin (SC) over the past 24 hours has been insignificant, with approximately 164,841,109.00 USDT traded against SC. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): SC is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): Siacoin is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for SC-USDT is currently in the low zone, around 42.00463. This suggests that Siacoin is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

Siacoin (SC-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.

Assess Siacoin’s (SCUSDT) risks at 6.72e-03 USDT with bearish technical analysis, highlighting weakened support and cautionary indicators.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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