SC Technical Analysis – October 2021
Over the last 30 days, SC has decreased by around 35%. Then, the price found support at $0.013. After that, the price started increasing again, and it has increased by more than 70%. The current trend for SC is upward, indicating that the price could keep increasing.
In the last 7 days, by more than 40%. Since the trend in the last 7 days is upward, the price could keep increasing for SC. Nonetheless, the price has had a pullback recently, and it may soon test support at $0.018.
In the intraday chart, SC has been highly volatile. In the last few hours, the price has decreased by around 5%, meaning that the shorter-term trend is downward.
The 20-day moving average is below the price, indicating that the current trend is upward and that the price could keep increasing in the coming days. The MA line could also act as support in the coming days.
The 9-day EMA is also slightly below the price and is currently supporting the price of SC, preventing potential downward breakouts for Siacoin.
Relative Strength Index
The RSI has slightly declined due to the recent pullback, but it is still above 50, indicating that the momentum is bullish for SC in the daily chart. In the 4-hour chart, however, the RSI is slightly below 50, meaning that the selling pressure is currently higher in the shorter term.
The MACD line is above the signal line and now above the baseline. This indicates that the current momentum in a daily chart is bullish and that the price could keep increasing. As for the 4-hour chart, the MACD line has now moved below the signal line due to the recent pullback and is now heading below the baseline, meaning that the price could keep decreasing in the coming hours.
Fear & Greed
The fear and greed indicator in a 4-hour chart suggests that the current emotion for SC traders is fear, primarily because of the recent pullback in the price.
The Fibonacci retracement levels from the beginning of the uptrend suggest that SC has retraced to 38.2%. If it finds support there, then the price could go to one of the extension levels.
In the recent price movement, SC has retraced close to the 78.6% level, meaning that the price could climb up again to the 0% in the shorter run.
Price Prediction SC – October 2021
Based on this technical analysis on Siacoin (SC), the price of SC could keep increasing in the coming days. If it breaks the projected resistance, then the price could aim to break the all-time high. Other things equal, if the all-time high is broken and the market continues to rise as projected, then SC could eventually reach $0.10 for the first time.
Latest News for SC – Affecting Price
Siacoin recently announced that they have enough funds for the next five years and that they could begin to burn SC coins soon. Since this implies that the supply may decrease, the price of SC could increase massively in the coming weeks and months.
Also read: Siacoin (SC) Price Prediction 2021 and Beyond – Is SC a Good Investment?