Cryptocurrency
by Seth Parker on September 6, 2018

Siacoin Analysis – Broken supports

The last piece of the day, will be the Siacoin, previously mentioned in the beginning of August. The price was on the 0.007 USD and we were negative:

“If You think that we cannot go any lower, most probably you are mistaken. In my opinion, the price should continue to go down, at least till the support on the 0.003 USD (blue). With the current sentiment and momentum, the chances that we will get there are very high. „

siacoin chart

Another day, another dollar. Great piece from our analytical team. After those words were written, the price was declining almost every day till we reached the local lows on the 14th of August. Since that, the price was in a bullish flag (green lines) but that was only a correction. Today, the price is breaking the lower line of the flag and the mid-term down trendline (black). Both of those actions are definitely negative. Sell signal is on, which means that we should seen the new lows soon.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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