- Bullish SC price prediction ranges from $0.0143 to 0.0262
- SC price might also reach $0.0300 soon.
- SC bearish market price prediction for 2021 is $0.0058
Siacoin (SC) is the native utility token of Sia. Sia is a blockchain-based distributed, decentralized cloud storage platform. Sia acts as a safe platform for cloud storage in which users can lease access to their unused storage space. It lets anyone rent out spare hard drive space and use other people’s spare hard drive space to store files. Siacoin, majorly used on the Sia network to pay for file storage or hard drive space.
According to CoinGecko, the Siacoin price is trading at $0.01301 with a 24-hour trading volume of $71,163,938, at the time of writing. However, SC has increased by $0.39 in the last 24 hours.
Currently, SC trades in cryptocurrency exchanges such as Binance, OKEx, Upbit, FTX, and Huobi Global.
Siacoin (SC) Price Prediction 2021
SC price prediction 2021 explained below in the daily time frame.
The triangle pattern, formed at its widest point. As the market continues to trade in a sideways pattern, the range of trading narrows, and the point of the triangle is formed. There are three types of triangle patterns, the ascending triangle pattern, the descending triangle pattern, and the symmetrical triangle pattern. The triangle pattern shows losing interest in an issue, from the buy-side and as well as sell-side
In the daily time frame chart, if the price of the SC breaks the point of $0.0138, it will reach the target of $0.0165 and $0.0206. Or else, if the price of the SC breaks the support level of $0.0086 means it will fall to the next support level at $0.0076. So, the trend of the SC is based on the breakout.
Siacoin (SC) Support and Resistance level
The below chart shows the support and resistance level of Siacoin (SC).
From the above two time frames, without any doubt, the following are the resistance and support levels of SC.
- Resistance Level 1 – $0.0143
- Resistance Level 2 – $0.0191
- Resistance Level 3 – $0.0262
- Support Level 1 – $0.0091
- Support Level 2 – $0.0058
The charts indicate that SC shows bullish performance over the past month. However, if the trend continues, SC might run along the bulls overtaking its resistance level at $0.0262. In contrast, if the investors turn against the crypto, the price SC might plummet to almost $0.0058, a bearish signal.
Siacoin (SC) Average Directional Index (ADX)
Now let us focus on the Average Directional Index (ADX) of SC. Notably, the ADX helps traders to identify the strength of a trend rather than its original direction. More so, it can used to determine whether the market is changing or a new trend starts. However, it integrated with the Directional Movement Index (DMI).
Even more, the range of the oscillator is from 0 to 100. Added to this, the strong trend and weak trend are indicated by high and low value. Moreover, it mostly combined with directional indicators.
The above chart shows the ADX of SC. Currently, the ADX stays above the range of 25, so it specifies a strong trend that is on the sell-side.
Among many, the SC is one of the cryptos that keeps its ground against a bearish market. Furthermore, our long-term SC price prediction for 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $0.0928 this year. However, this will only occur if it breaks many past psychological resistances.
Furthermore, with the ongoing development and upgrades within the SC ecosystem, it could experience a great future ahead in 2021. It may reach $0.0262 soon and it might even reach heights, however reaching $0.0300, if investors have decided that SC is a good investment in 2021.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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