Siacoin (SC) price movement is exhibiting positive signs over the last few days. The coin has managed to record moderate improvement over the last 30 days amidst volatility. The chart given below is reflecting a 5% hike in the month-long movement. The price of Siacoin is likely to improve in the coming period. The technical indicators are pointing towards the flourishing future.
Siacoin Shows Bullish Recovery
The price of Siacoin spotted at $0.00135 around March 25, and it continued to trade moderately for the next two days, but later, it marked a sudden price drop. The coin registered 17.83% fall and touched a low of $0.0011. After that, the currency reflected an upside momentum in the following days.
The ongoing month started on a negative note as on April 01, and the price spotted at $0.00118. However, on the next day, Siacoin’s price registered immense growth as it touched $0.00138 by a 17.05% hike. The upsurge remained intact, and by April 04, the price touched $0.00144. Then, the price plunged slightly to $0.00129 on April 05.
Further, Siacoin managed to trade upwards and touched $0.00155 by 19.22% hike. After breaching $0.0015 mark, the currency faced rejection and dropped to $0.00122 by 21.25% fall. After this massive fall, the coin managed to recover and reached $0.00136 on April 12, but couldn’t hold for long and dropped to $0.00119 by 12.21% fall. From this low, the coin again started trading upwards and reflected consolidation above $0.0013 mark till April 20. On the next day, the price dropped to $0.00122, but then, it managed to touch $0.00143 at the time of writing.
Currently, Siacoin managed to trade above both the moving averages, namely, 50 & 200-day MA. The placement of these SMA lines reflects bullish crossover, and hence, the upcoming period might bring strong recovery.
Siacoin price has already breached the immediate resistance level at $0.00140 and the next resistance level at $0.00143. However, the RSI is at 59.11 and holds no trading extremities at present. According to Siacoin forecast, the currency might continue to trade upwards and cross $0.00150 in the upcoming days.
