Siacoin price surges massively for the consecutive third day, manifesting a strong bullish momentum
The price is expected to smash the upper barriers of the channel and hit the target levels above $0.028
Siacoin Price Rose More Than 100% in the Past Seven Days
The Siacoin price experienced an initial push with the SiaCoin Hard Fork which was supported by Binance. The surge was expected to smash the levels close to $0.1, yet the price was just pullback as it hit the levels above $0.02.
The price consolidated for more than 20 days since than and sustained above the levels awaiting a boost. However, since the beginning of the current week, the platform experienced a huge influx of volume that surged the price.
Despite a dip in the trading volume in the mid-week, the price did not loose its bullish momentum. The asset rallied more than 100 percent in the current week with another day to go. The jump of more than 20% in the past 24 hours, highlighted the asset as the fourth largest gainer with the market capitalization surpassing $1 billion.
Currently, the price is trending within a parallel channel and interestingly the price has jumped from the lower level to the upper levels of the channel. Moreover, the price is on the verge to break the upper resistance levels very soon.
At the time of writing, the Siacoin price is $0.02391 with a massive jump of 20.77% in teh last 24 hours. It is mandatory for the asset to hold strong within the upper level of the channel around $0.021 and attempt hard to break the barrier. However, the supports levels appear to be not strong enough to withstand the plunge.
- The resistance levels of SC price stand at $0.02814
- The support levels stand at $0.01886
- The indicators for Siacoin price point out towards a ‘buy’ signal