In this Syscoin technical analysis, we will examine the current price action, trading volume, key levels and indicators for SYS-USDT. Syscoin (SYS) is an open-source blockchain platform that enables the creation of decentralized applications and smart contracts. With its unique proof-of-stake consensus algorithm, Syscoin offers a more energy-efficient and scalable solution compared to traditional proof-of-work algorithms. By providing a secure and reliable platform for decentralized applications, Syscoin has the potential to revolutionize various industries such as supply chain management, voting systems, and digital identity verification.
Syscoin Price Overview:
As of October 02, 2023, Syscoin is trading at approximately 0.0875 USDT. Let’s dive into the detailed price action for SYS-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.0895 |
| High (H) | 0.0912 |
| Low (L) | 0.0863 |
| Close (C) | 0.0875 |
| Volume (C) | 3,293,986.00 |
- Open (O): The opening price for today’s trading session was approximately 0.0895 USDT.
- High (H): Syscoin reached a daily high of around 0.0912 USDT.
- Low (L): The daily low for SYS-USDT was approximately 0.0863 USDT.
- Close (C): At the time of analysis, Syscoin is trading near its daily close of 0.0875 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -2.13% |
| 3D Change (%) | 0.11% |
| 7D Change (%) | 2.10% |
| 30D Change (%) | -2.45% |
| 90D Change (%) | -29.32% |
| YTD Change (%) | -11.35% |
Over the past three days, SYSUSDT has risen by approximately 0.11%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 2.10%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with SYSUSDT maintaining a downward trend of approximately -2.45%, despite intermittent fluctuations. Examining the last 90 days, SYSUSDT has witnessed substantial drop of approximately -29.32%, reflecting strong long-term confidence. Year-to-date, SYSUSDT has steadily dropped by around -11.35%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Syscoin Live Chart:
You can access a live price chart for SYS-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 0.30598.
- Momentum score is -0.02453.
SYS USDT Technical Analysis
Syscoin Trading Volume:
The trading volume for Syscoin (SYS) over the past 24 hours has been insignificant, with approximately 3,293,986.00 USDT traded against SYS. 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): SYS is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Syscoin is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for SYS-USDT is currently in the neutral zone, around 45.70725. This suggests that Syscoin is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Syscoin (SYS-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 neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
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.
