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.

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

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