According to coinmarketcap, the maximum supply of the coin is around 49.44B SC and the circulating supply is around 49.44B SC. SC holds the 96th rank according to market cap and has the market dominance of 0.04%.
At the time of writing, SC is being traded at the price of $0.024 with a drop of almost 4.25% in the last 24 hours. SC is a really strong token fundamentally. The maximum and minimum today are $0.02605 and $0.02345 respectively. The daily trading volume has also decreased by almost 39.39%. It had created its ATH in April 2021 and reached a price of almost $0.064. During the crash, the price of SC dropped down to a level of $0.00762. The price since then is trying to recover and it can be seen to rising steadily.
Technical Analysis – Siacoin (SC)
Siacoin (SIA) has been following the trend line and many times, the price has bounced from there. When the price broke out of this trend line, it also broke the structure as well. This led to the creation of a daily order block.
It can be seen that in the past, the price had grabbed liquidity before. The recent move with the wick also did this and the candle eventually closed in the red.
Now the possible movement of the coin is that it would mitigate the lower order block. When it does, we can expect a possible bounce from there which can be taken as a possible entry to a long position.
Invalidation of this scenario would be the price stabilizing above the structure from where a possible reaction can be expected. So lower time frame confirmations should be taken into consideration before taking an entry.
Long Term Investment – Siacoin
In the long run, people are quite hopeful about the SC. They think that it is going to attract an even more audience that is going to make it even more mainstream.
But according to wallet investor, in a four-year plan, it is supposed to drop down to a price of $1.933 which is quite less than the price that SC has right now. As opposed to the general mindset of the investors and retailers this is quite an opposite perspective and this calls for SC to be not a good investment. But people are hopeful that SC will achieve new heights in the near future.
