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

WIF Set to Overtake BONK? Lunex Soars with 100x Potential in Altcoin Season

As altcoin season heats up, all eyes are on the rising stars—especially Lunex, which is…

1 hour ago

Binance Coin Price Dips: BNB Holders Rush To Lunex Presale To Hedge Their Long Positions

While the broader market witnessed a notable upward movement, Binance Coin (BNB) experienced a decline…

2 hours ago

Crypto Stalwarts Forecasted 800% Growth in Innovative Projects: VeChain, Rollblock and Polkadot!

This blazing crypto bull run has investors looking for the next top altcoins set to…

2 hours ago

Dogecoin Price Set To Recreate 36,000% Rally From 2021 After Pennant Formation

The Dogecoin price is back in the limelight, captivating the crypto world with its recent…

2 hours ago

Is XRP About to Explode? How Trump’s Victory Is Affecting XRP Price Amidst JetBolt Growth

Ripple’s XRP showed a 68% price increase in the last 7 days following Trump's victory,…

2 hours ago

Ethereum Down While Bitcoin, Solana, and JetBolt Skyrocket In End November 2024

Ethereum stumbles as Bitcoin surges past $97K, Solana eyes new highs, and JetBolt’s presale shakes…

5 hours ago