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.
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.
As altcoin season heats up, all eyes are on the rising stars—especially Lunex, which is…
While the broader market witnessed a notable upward movement, Binance Coin (BNB) experienced a decline…
This blazing crypto bull run has investors looking for the next top altcoins set to…
The Dogecoin price is back in the limelight, captivating the crypto world with its recent…
Ripple’s XRP showed a 68% price increase in the last 7 days following Trump's victory,…
Ethereum stumbles as Bitcoin surges past $97K, Solana eyes new highs, and JetBolt’s presale shakes…