- Bullish Siacoin price prediction ranges from $0.032 to $0.068.
- Siacoin price might also reach $0.5 soon.
- Siacoin bearish market price prediction for 2021 is $0.0074.
This Siacoin Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our SC price analysis and prediction.
There are many cryptocurrencies that surged to a new all-time high during this 2021 bull run. In contrast, some crypto also experienced a downtrend. Therefore, many cryptocurrency investors and traders are confused about whether it is time to hold or sell their crypto for a good price. This might be the same scenario for SC traders and investors.
Nevertheless, the cryptocurrency market is consolidating lately, and most cryptocurrencies are losing their previous gains. Is the scenario the same with SC price? We’ll find out shortly in this SC price analysis 2021 article. But first, let’s have a look at what SC is.
What is Siacoin?
Siacoin (SC) is the native utility token of Sia, a blockchain-related distributed, and decentralized cloud storage platform. More so, Sia acts as a secure, trustless marketplace for cloud storage in which users can lease access to their unused storage space.
Moreover, agreements and transactions are enforced with smart contracts, and Siacoin is the medium of exchange for storage payment on the network. However, the main goal of the project is to become the ‘backbone storage layer of the internet.’
Now that we have an idea about SC, do you think SC will be profitable crypto in 2021? Join me and let us see the charts in this SC price analysis and SC price prediction.
Siacoin Current Market Status
As of the time of writing this Siacoin price analysis, SC trades at $0.029 with a 24-hour trading volume of $212.6 million. The price of SC has decreased by 3.69% in the last 24 hours.
Furthermore, SC has a current circulating supply of $47,355,322,992. Currently, the top cryptocurrency exchanges for SC are Binance, Huobi Global, OKEx, Upbit, and FTX.
Now, let’s proceed to the next part of this SC technical analysis for 2021.
Siacoin Price Analysis 2021
Currently, Siacoin holds 75th place on CoinGecko. But will the latest upgrades, development, and changes in the SC blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this SC price prediction article.
Based on the graph below, the chart displays a cup and handle pattern. The pattern represents a period of consolidation which might result and reach an immediate price breakout or breakdown. A breakdown from the lower trendline represents the start of a new bearish trend, while a breakout from the upper trendline shows the start of a new bullish trend.
As shown above, at the beginning of this month, SC turned from its bear to bull trend. This is the result of the high trade volume that occurred in that period.
The Relative Strength Index (RSI) is at 49, which means that SC is nearly oversold. Hence, traders must pay attention and expect a possible major price reversal anytime soon.
Furthermore, traders must trade carefully and must not be affected by the cryptocurrency market hype. Keeping all this in mind, crypto traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.
Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of SC.
Since the start of 2021, SC’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, SC has a competitive market this 2021.
Siacoin Price Prediction 2021
The chart below shows that Siacoin has performed great over the past few days. As a result, the SC price is over 38% in the last 7 days. If this trend continues, SC might run along with the bulls, overtaking its $0.068 resistance level as it climbs higher.
Conversely, if the investors turn against the crypto, the bears might take over and dethrone SC from its uptrend position. In simpler terms, the price of SC might plummet to almost $0.007, a bearish signal.
Meanwhile, our long-term SC price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $0.1117 this year. However, this will only happen if it breaks many previous psychological resistances.
Siacoin has a bright future ahead of it in 2021. With the ongoing developments happening within the SC ecosystem, as well as in the overall crypto market, we may see SC reach new heights.
Bullish SC price prediction 2021 is $0.11. Moreover, it may even reach $0.5 if investors have decided that SC is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
Siacoin (SC) is the native utility token of Sia, a blockchain-related distributed, decentralized cloud storage platform.
Users can obtain SC tokens by purchasing them from cryptocurrency exchanges such as Huobi Global or Binance.
Siacoin is a good investment in 2021. Above all, Siacoin has a high possibility of surpassing its current ATH at about $0.1117 this year.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.