Siacoin Price Prediction – Will Siacoin Price Hit $ 0.08 Soon?

This Siacoin(SC) Price Prediction article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our SC price analysis and prediction.

There are many cryptocurrencies that surged to a new all-time high during the 2021 bull run. In contrast, some crypto also experienced a downtrend. However, Siacoin (SC) has not been able to break its all-time high price that it attained in January 2018, though its investors received a return on investment of 36% in the past one year. Therefore, many cryptocurrency investors and traders are confused about whether it is time to hold or sell their crypto for a good price. This might be the same scenario for SC traders and investors.

Nevertheless, the cryptocurrency market is consolidating lately, and most cryptocurrencies are losing their previous gains. Is the scenario the same with the SC price? We’ll find out shortly in this SC price analysis 2022 article. But first, let’s have a look at what SC is.

What is Siacoin?

Siacoin (SC) is the native utility token of Sia, a blockchain-related distributed, and decentralized cloud storage platform. More so, Sia acts as a secure, trustless marketplace for cloud storage in which users can lease access to their unused storage space. The Sia blockchain is preserved by using the proof of work algorithm.

Moreover, agreements and transactions are enforced with smart contracts, and Siacoin is the medium of exchange for storage payment on the network. However, the main goal of the project is to become the ‘backbone storage layer of the internet.’

Now that we have an idea about SC, do you think SC will be profitable crypto in 2022? Join me and let us see the charts in this SC price analysis and SC price prediction.

Siacoin Current Market Status

As of the time of writing this Siacoin price analysis, SC trades at $0.01006 with a 24-hour trading volume of $11,368,498. The price of SC has increased by 5.58% in the last 24 hours.

Furthermore, SC has a current circulating supply of 49.98 billion. Currently, the top cryptocurrency exchanges for SC are Binance, OKEx, Huobi Global, FTX, Kraken, Gate.io and Upbit.

Now, let’s proceed to the next part of this SC technical analysis for 2022.

Siacoin Price Analysis

Currently, Siacoin holds 147th place on CoinGecko. But will the latest upgrades, development, and changes in the SC blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this SC price prediction article.

Accumulated/Distribution indicator is used to detect the bullish or bearish signal in a chart, through the use of divergence and confirmation. From the 1Day A/D chart of Link above, it could be seen that the chart is on a downtrend. However, the accumulated/distribution chart above for Siacoin (SC) shows that both the chart and the A/D are moving in the same direction, which shows that SC is consolidating, though a bullish run could be in the horizon if the buyers have their way.

Keltner channel is a technical analysis indicator that is used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for SC, it could be seen that the present downtrend could be coming to an end since the last candlestick is close to the bottom curve in the Keltner Channel chart above. This shows that the present decrease in the price of Siacoin (SC) is coming to an end soon though there could be a consolidation and any bullish run.

The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes so as to deduce oversold or overbought assets. The RSI value of Siacoin (SC) 1day chart of SCUSDT is at 33.91.  This shows that SC is showing a neutral trend since it is between 30 and 50. This value could trigger a further bullish run if more buyers could be attracted to gain from the expected price increase, as it moves away from the oversold region.

Siacoin Price Prediction

The chart below shows that Siacoin price has increased in the past few days. As a result, the SC price is over 6% in the last 7 days. If this trend continues, SC might run along with the bulls, overtaking its $0.05150 resistance level as it climbs higher.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone SC from its uptrend position. In simpler terms, the price of SC might plummet to almost $0.0175, a bearish signal.

Meanwhile, our long-term SC price prediction 2022 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $0.1117 this year. However, this will only happen if it breaks many previous psychological resistances.

Siacoin Price Prediction 2022

If this bullish trend continues, SC will reach $0.05150 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $0.01794 at resistance4. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $0.08 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Siacoin Price Prediction 2023

If SC holds an RSI above 30, buyers will then have ample time and stability to forge the next attack mission on the vital level at $0.14, making it not plummet but play consistently.

Siacoin Price Prediction 2024

As per the latest upgrades, developments, SC price prediction, and new project forecasts of the platform, SC investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of SC in the crypto market, and it will be the best investment as the price can spike and reach around $0.3.

Siacoin Price Prediction 2025

In the next four years, SC prices could race up to $0.8. However, reaching this level could not be so difficult for SC as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that SC has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Siacoin Price Prediction 2026

By 2026, the price of SC would reach $1 since many individuals will have better knowledge of cryptocurrencies, therefore, increasing the investment in the industry.

Conclusion

Siacoin has a bright future ahead of it in 2022. With the ongoing developments happening within the SC ecosystem, as well as in the overall crypto market, we may see SC reach new heights.

Bullish SC price prediction 2022 ranges from $0.02996 to $0.05150. Moreover, it may even reach $0.08 if investors have decided that SC is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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