In this Syscoin technical analysis, we will examine the current price action, trading volume, key levels and indicators for SYS-USDT. Syscoin is a blockchain-based platform that enables the creation and exchange of assets on the decentralized web. It utilizes a proof-of-work consensus algorithm and features a unique two-tiered architecture, allowing for faster transaction processing times and lower fees compared to other cryptocurrencies. Additionally, Syscoin’s asset management system allows users to create and manage their own custom assets, opening up new possibilities for decentralized finance (DeFi) applications.
Syscoin Price Overview:
As of July 08, 2024, Syscoin is trading at approximately 0.0993 USDT. Let’s dive into the detailed price action for SYS-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.0966 |
| High (H) | 0.1019 |
| Low (L) | 0.0937 |
| Close (C) | 0.0993 |
| Volume (C) | 6,160,569.00 |
- Open (O): The opening price for today’s trading session was approximately 0.0966 USDT.
- High (H): Syscoin reached a daily high of around 0.1019 USDT.
- Low (L): The daily low for SYS-USDT was approximately 0.0937 USDT.
- Close (C): At the time of analysis, Syscoin is trading near its daily close of 0.0993 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 2.69% |
| 3D Change (%) | 2.58% |
| 7D Change (%) | -22.18% |
| 30D Change (%) | -41.86% |
| 90D Change (%) | -63.80% |
| YTD Change (%) | -26.82% |
Over the past three days, SYSUSDT has increased by approximately 2.58%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -22.18%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with SYSUSDT maintaining a downward trend of approximately -41.86%, despite intermittent fluctuations. Examining the last 90 days, SYSUSDT has witnessed substantial drop of approximately -63.80%, reflecting strong long-term confidence. Year-to-date, SYSUSDT has steadily declined by around -26.82%, 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 0.8321.
- Momentum score is -0.23733.
SYS USDT Technical Analysis
Syscoin Trading Volume:
The trading volume for Syscoin (SYS) over the past 24 hours has been insignificant, with approximately 6,160,569.00 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 low zone, around 34.92731. This suggests that Syscoin is in bearish 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 low RSI and insignificant trading volume are low signals for potential downward movement.
Explore Syscoin’s (SYSUSDT) potential setbacks at 9.93e-02 USDT through bearish technical analysis, emphasizing weakened support and cautionary indicators.
Discover even more by checking out our comprehensive analysis on SYS BTC Syscoin Technical Analysis — a perfect follow-up if you enjoyed this post.
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.