Coin of the day is Siacoin.
As always, listing on the new exchanges drags our attention by huge movements.
To recall, Sia is a decentralized data storage platform based on the blockchain technology. The Sia Storage Platform leverages underutilized hard drive capacity around the participants of the network to create a data storage marketplace that is more reliable and lower cost than traditional cloud storage providers. The goal of the company is to provide a decentralized cloud storage option that competes with centralized legacy competitors such as DropBox, Amazon, Apple, and Microsoft.
Latest news
The coin showed growth attempt on 11.06, as we know this was a date of listing on the OKex. Though, did not manage to breakthrough 100-days EMA.
Today Binance announced about listing:
“Binance will open trading for SC/BNB, SC/BTC and SC/ETH trading pairs at 2018/06/14 11:00 AM (UTC). Users can now start depositing SC in preparation for trading.”
Technicals
After Listing announcement SCBTC jumped rapidly from the Bullish Trend Line, restoring all the past losses. Growth wave crossed Bearish Trend Lines, 100-days EMA and now aiming for the strong resistance zone 0.0000024 – 0.0000025. As we know, the pattern which occurs during the coins listing almost always acts the same, and as soon as arbitrageurs equal the prices, there will be a noticeable retrace. As we are close to the strong resistance area, and already saw almost 30% growth, that moment could happen soon. Nonetheless, overall effect from the listing should be positive, since this will greatly increase the inflow of capital. So, if you believe that this rally will go much higher, be aware of 0.0000024 – 0.0000025 zone, if SCBTC will cross it easily, like other levels – there is a chance to reach much higher. Otherwise, it is better to wait for the correction, and than buy-in, support levels for the correction are 100-days EMA and 0.000002 – 0.0000021 zone.
As always, listing on the new exchanges drags our attention by huge movements.
To recall, Sia is a decentralized data storage platform based on the blockchain technology. The Sia Storage Platform leverages underutilized hard drive capacity around the participants of the network to create a data storage marketplace that is more reliable and lower cost than traditional cloud storage providers. The goal of the company is to provide a decentralized cloud storage option that competes with centralized legacy competitors such as DropBox, Amazon, Apple, and Microsoft.
Latest news
The coin showed growth attempt on 11.06, as we know this was a date of listing on the OKex. Though, did not manage to breakthrough 100-days EMA.
Today Binance announced about listing:
“Binance will open trading for SC/BNB, SC/BTC and SC/ETH trading pairs at 2018/06/14 11:00 AM (UTC). Users can now start depositing SC in preparation for trading.”
Technicals
After Listing announcement SCBTC jumped rapidly from the Bullish Trend Line, restoring all the past losses. Growth wave crossed Bearish Trend Lines, 100-days EMA and now aiming for the strong resistance zone 0.0000024 – 0.0000025. As we know, the pattern which occurs during the coins listing almost always acts the same, and as soon as arbitrageurs equal the prices, there will be a noticeable retrace. As we are close to the strong resistance area, and already saw almost 30% growth, that moment could happen soon. Nonetheless, overall effect from the listing should be positive, since this will greatly increase the inflow of capital. So, if you believe that this rally will go much higher, be aware of 0.0000024 – 0.0000025 zone, if SCBTC will cross it easily, like other levels – there is a chance to reach much higher. Otherwise, it is better to wait for the correction, and than buy-in, support levels for the correction are 100-days EMA and 0.000002 – 0.0000021 zone.
