After a strong performance in the first week of 2018, SiaCoin started to lose value. However, after this period of slowdown, SiaCoin has finally managed to gain some ground today as the currency rose by 5%. (SC) is among one of the most popular cryptocurrencies in the markets today. It has a strong technological backing and is all set to revolutionize the way we know cloud storage in the future to be. As of this writing, SiaCoin is priced in at $0.038.
Market analysts from tradingview are quite optimistic about the growth of the SiaCoin currency in the days to follow. The currency is expected to continue this positive growth over the next couple of weeks. Market analysts are expecting a strong growth. The currency has hit a break-out point and is all set to accelerate its growth from here on.
While the currency has approached the breakout point, it does not necessarily mean that Sia is bound to break out. However, going by the fact that markets in general have started to recover and almost all major currencies are up by 5 to 10% today, it looks like this is the beginning of a bull-run.
The line of support for SiaCoin is at 0.0000037 BTC ($0.04). The currency has been below the line of since the 21st of January. However, it now appears that after a week of staying below the line, SiaCoin is all set to burst out. The price is just $0.02 away from a recovery – and once it breaks out, it is expected that there is going to be a big green candlestick which may appear!
This is indeed a good time to invest in SiaCoin. Investors are advised to set a target of $0.05, $0.07 and $0.09 over the short term. A stop-loss of $0.025 is also recommended for those trading in short-term, just as a precaution.
Disclaimer: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions – which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advise.