Siacoin (SC) Price Prediction and Analysis in July 2020
Siacoin (SC) is a blockchain platform that launched 5 years ago with the intent of providing an open-source, low-cost cloud storage solution. SIA/SC token is the native currency that enables several functions on the platform, such as end-to-end encryption and file sharing in a decentralized network.
Currently, Siacoin is changing hands at $0.003495 against the US dollar, with a rise of 4.89% in the last 24-hour period. It has a ranking of 61st on CoinMarketCap based on a market cap of $146,156,330 and a circulating supply of 41.817.047.634 SC. In the last 24 hours, $5,605,572 worth of Siacoin has been traded.
Siacoin Price Prediction: Analysis
Siacoin started June at an opening price of $0,002345, and in just three days, it rallied up to $0,002995, being close to testing the $0.003 resistance level. The sudden bull movement was followed by a pullback, bringing down the coin to $0,002638 during the same day. The coin recovered to $0,002815 towards the end of the day. For the next couple of days until June 9th, Siacoin started trading tightly between $0.0026 and $0.0027, but on June 10th, it surpassed the $0,003024, breaking a new resistance level.
The bull movement continued in the next week, as SC reached $0,004137 by June 17th. The coin only maintained itself around that level for another day, and then fell back to $0,0039.
The inability to pass the $0.004 resistance level triggered a bearish movement, which led SC to go below the $0.003 support level on June 25th. The coin consolidated for the next week, trading closely in the upper range of $0.0020 level.
On the first day of July, Siacoin managed to get back to $0,003152 and close the day above the new $0.003 resistance level. The next week, SC once again started a consolidation pattern, trading between $0.003 and $0.0031.
The Siacoin resistance, pivot, and support levels calculated by WalletInvestor are as follows:
- Resistance Level (R3): 0.00320
- Resistance Level (R2): 0.00311
- Resistance Level (R1): 0.003052
- Pivot Point: 0.00296
- Support Level (S1): 0.00290
- Support Level (S2): 0.00282
- Support Level (S3): 0.00275
According to a blog post made by Coinbase on June 10, the US-based exchange is looking to extend its list of supported assets with 18 new cryptos, including Siacoin. The rest of the coins considered for addition are Aave (LEND), Aragon (ANT), Arweave (AR), Bancor (BNT), Compound Coin (COMP), DigiByte (DGB), Horizen (ZEN), Livepeer (LPT), NuCypher (NKMS), Numeraire (NMR), KEEP Network, Origin Protocol (OGN), Ren (REN), Render Network (RNDR), SKALE Network, Synthetix (SNX), and VeChain (VET). Coinbase will not be adding Siafunds (SF).
The post did not stipulate any date at which the coins will be listed, stating that it takes a “significant technical and compliance review” as well as regulatory approval to complete any listing process.
“We will add new assets on a jurisdiction-by-jurisdiction basis, subject to applicable review and authorizations. Our customers can expect Coinbase to make future, similar announcements as we continue to explore the addition of numerous assets across the platform,” – stated the announcement.
Siacoin Price Prediction: Market Opinion for July 2020
Many crypto forecasting platforms have posted their own Siacoin price prediction for July 2020. We have included several of them to present a broader perspective of the market opinion for this coin (SC).
WalletInvestor issued a daily Siacoin price prediction for the next ten days of July, with their possible maximum and minimum values:
|Date||Price||Min Price||Max Price|
Digitalcoinprice predicts that Siacoin will have a trading price of $0.00707891 in July, which represents an increase of 128.8%.
Tradingbeasts forecasted that Siacoin will have a closing price in July of $0.0035957.
The Gov.capital site believes that Siacoin will reach $0.00113 on July 27th, with a possible minimum of $0.00111 and a maximum of $0.00114, on the same day.
Coinpredictor predicted that, in one day, SC will be trading at $0.002007, with a decrease of -1.1%. In the next week, the site predicted that SC will gain 1.3%, which would bring the coin to a price of $0.002055. They expect that towards the end of the month, SC will be trading at $0.001065, with a loss of -47.5%.
Bitverzo expected that Siacoin will averagely trade at $0.000032 on July 31st, with a possible high of $0.007630 and a possible daily minimum of $-0.007230. They also issued price predictions for Siacoin for the rest of the days in July:
|Wednesday, July 15, 2020||0.001106||-0.006166||0.008980|
|Thursday, July 16, 2020||0.001112||-0.006501||0.008559|
|Friday, July 17, 2020||0.001175||-0.006047||0.009422|
|Saturday, July 18, 2020||0.001336||-0.005581||0.009096|
|Sunday, July 19, 2020||0.001307||-0.005853||0.008978|
|Monday, July 20, 2020||0.001077||-0.006116||0.009137|
|Tuesday, July 21, 2020||0.000884||-0.006483||0.008811|
|Wednesday, July 22, 2020||0.000835||-0.007177||0.008300|
|Thursday, July 23, 2020||0.000788||-0.007347||0.008957|
|Friday, July 24, 2020||0.000793||-0.006286||0.009017|
|Saturday, July 25, 2020||0.000893||-0.007037||0.008521|
|Sunday, July 26, 2020||0.000802||-0.006976||0.008306|
|Monday, July 27, 2020||0.000512||-0.007228||0.008063|
|Tuesday, July 28, 2020||0.000261||-0.007736||0.008196|
|Wednesday, July 29, 2020||0.000159||-0.007264||0.007771|
|Thursday, July 30, 2020||0.000066||-0.006953||0.008646|
|Friday, July 31, 2020||0.000032||-0.007230||0.007630|
Cryptoground forecasted that Siacoin (SC) will be trading at $0.0020 in the next 24-hour period, which is a change of -33.93%. The site also predicted that in the following 7 days, SC will lose -35.46% and trade around $0.0020, and it will close the month at the same price level.
Cryptorating projected that SC will trade at $0.003226 in the next 24 hours, signifying a change of 5.29%. In the next seven days, the site predicted that the coin will increase by 10.84% and reach $0.003396, while by the end of the month, the price will hit $0.003841, with a change of 25.36%.
Siacoin Price Prediction: Verdict
This has been our Siacoin price prediction for July 2020. From what we have noticed, it is expected that Siacoin will be trading anywhere between $0.002 and $0.004 in the upcoming month.
Featured image: newsbtc.com