Siacoin is the first decentralized cloud-based storage platform developed using blockchain technology. Storage providers actively compete on this platform for businesses, thereby leading to the discovery of the lowest possible storage price. SIA is the network’s governance token. Past Performance On March 11, 2021, the opening price of SC was $0.012. As of March 17, 2021, the closing price of SC was $0.02. Thus, the SC price has soared by approximately 67% in the past week. In the last 24 hours, SC has traded between $0.017-$0.022. https://ift.tt/3cKpXyX Day-Ahead and Tomorrow Currently, SC is trading at $0.019. The price has decreased from the opening price of $0.02. Thus, the market is downtick. The MACD and signal lines are negative. Thus, the market momentum is bearish. However, both the lines are very close to the zero line and hence may turn positive soon. A bullish crossover by the MACD line over the signal line further points towards a trend reversal. Thus, the price may start rising in some time. The RSI is currently at 42%. It faced rejection and 60% and fell to the current level. Thus, selling pressures are high. We can expect the price to go down further. The OBV indicator has sharply risen since morning. So, buying volumes are high. High buying activity will exert upward pressure on the SC price. There is a positive divergence here. Hence, the price pullback may be temporary and may start rising in some time. SC Price Analysis The price has fallen below the Fibonacci pivot point of $0.02. As a price dip is indicated by the oscillators, the price may fall up to the first support level of $0.018, before resuming its upward movement. The price has tested and fallen below the 50% FIB retracement level of $0.0195. It may test and fall below the 61.8% FIB retracement level of $0.019 soon. If the price falls below the 76.4% FIB retracement level of $0.018, by the end of the day, then probably a price downtrend has set in. In that case, we may expect the bear-run to continue tomorrow. However, the sentiments are positive for the long-term.
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