Good Afternoon, Traders!
Siacoin has been trading in the bearish direction since the beginning of the year and has recently began consolidating above the 0.0103 support level and the 0.0140 resistance level. Along with this, the price as been running above the 2/1 Gann fan line creating a very short ascending triangle from the three lines.
The Exponential Moving Averages show that the EMA 20 has been below the EMA 200 since mid March and seems to be slowing down. This consolidation could result in a reversal causing the EMA 20 to start moving back up.
The Ichimoku line remains red indicating it will continue bearish or be met with the resistance line at the red.
Important Resistance Levels: 0.0140, 0.0229
Important Support levels: 0.0103, 0.0086
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Written by:
Hammad Fazlani
Research Analyst
Siacoin has been trading in the bearish direction since the beginning of the year and has recently began consolidating above the 0.0103 support level and the 0.0140 resistance level. Along with this, the price as been running above the 2/1 Gann fan line creating a very short ascending triangle from the three lines.
The Exponential Moving Averages show that the EMA 20 has been below the EMA 200 since mid March and seems to be slowing down. This consolidation could result in a reversal causing the EMA 20 to start moving back up.
The Ichimoku line remains red indicating it will continue bearish or be met with the resistance line at the red.
Important Resistance Levels: 0.0140, 0.0229
Important Support levels: 0.0103, 0.0086
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Written by:
Hammad Fazlani
Research Analyst