Sia intends to bring in a revolution in the way we know cloud storage technology with the help of blockchain systems. Sia’s cryptocurrency, the SiaCoin (SC) is a popular cryptocurrency in the markets and has many investors and traders backing it. The currency has amassed a market cap of 1.4 Billion USD and continues to grow with every passing day.
The last few weeks however, were not so good for SiaCoin as the cryptocurrency witnessed a major slide in its prices. SiaCoin fell from an all-time high of $0.107 to a low of $0.033. However, the currency has since been on a slow path to recovery and currently stands in at a price of $0.045.
The past 24 hours have been especially good for SiaCoin – having grown by over 14% – making it one of the strongest growing currencies of today. The cryptocurrency has shown immense potential for growth in the past. Market analysts indicate that an upward trend is now forming which will help SiaCoin grow even more in the weeks to follow. Here’s a graph showing the same:
SiaCoin’s price is expected to continue rising. However there are going to be multiple lines of resistance that the currency is expected to face. The small green spike has begun to form now – and it is indeed a good sign for SiaCoin.
If this early upward trend does become a proper bull-run – then the currency is likely to witness a major surge in its prices and reach levels as high as $0.09 by the third week of February – doubling up from its current price. However going by the fact that there are multiple lines of resistance – the currency is going to face hiccups. If you are investing in SiaCoin – make sure you set your targets and stop-losses right.
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Disclaimer: Neither the management nor the authors at Coinlus.com are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions – which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advise.