Categories: Market Analysis

SIAcoin Technical Analysis for 05/04/2016 – Price Breaks Above 21 Satoshi Pivot Zone

The SIAcoin cryptocurrency hit an all-time high of 42 satoshi during March, but price has been in a bear market since then. The 30 satoshi price level has seen quite a bit of action since the start of March. This level has acted a total of four times as resistance in the past two months, and once as support, on March 22.

Now, the 16 & 21 satoshi price levels, are two pivot zones that every trader should be aware of. The 16 satoshi pivot goes all the way back to the beginning of February, when this area first acted as resistance. The SIAcoin exchange rate broke above this level on February 12, and the market has not been able to trade under this level since that day. The 16 satoshi pivot has acted as support above five times!

The 21 satoshi level has been used multiple times since February 19; on three occasions as resistance; four times as support.

Related Post

In fact, the 2-hour chart shows that price broke above this massive pivot area today, and it’s very likely that the 21 satoshi pivot may now turn into support. If 21 satoshi turns into support, a rally towards the 30 satoshi level may take place over the next few days.

 

Disclaimer:  This is not trading/investment advice!

Chart Source: https://poloniex.com/exchange#btc_sc

If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

Traderman

Avid blogger, entrepreneur, and cryptocurrency enthusiast. I love writing about cryptocurrency, NFTs, price analysis, and much more!

Share
Published by
Traderman

Recent Posts

Aptos (APT) and Tron (TRX) Prices Slide, As Volume Soars For Rollblock Suggesting Parabolic Rally

As Aptos and Tron prices take a recent downturn, the spotlight shifts to Rollblock, whose…

4 hours ago

Altcoins to Watch in November: Binance Coin (BNB), Rollblock (RBLK), and Neiro (NEIRO)

As the crypto markets roll into their most bullish time of year, we present three…

4 hours ago

Analysts Forecast $1 for Cardano and Lunex Network As Dogwifhat Plunges To Former Lows

As the crypto market prepares for a major rally, experts believe that two top altcoins,…

4 hours ago

Retail Traders Panic Sell During ‘Fake Dip’; Whales Hold Tight to SOL, DTX, and SHIB for a Millionaire-Maker Bull Run

Solana (SOL): A Strong Ecosystem Despite Volatility Solana (SOL) has been all over the place…

5 hours ago

Llama 3.2 Predicts Price For Dogecoin: $2 Peak By 2025 And $5 Rally For DTX Exchange This Winter

Cryptocurrency trends are keen on the forecast that was recently released by Llama 3.2 model…

5 hours ago

Crypto Whale Sparks 8x Surge In $OPK Price with Massive Buy-in

A mysterious crypto whale, who previously invested 9,600 SOL into tokens $Pnut and $FRED, has…

7 hours ago