Siacoin (SC) – Resistance reached. What is next?

One of the biggest gainers in the last two days is Siacoin and that will be a debut of this altcoin in my analysis. When we look on the daily chart of the SC, we also do not have any bigger surprises. The chart looks familiar. The altcoin topped at the beginning of the January and from that point dropped like a rock. Been there, done that, right?

First signs of the optimism could be seen in the middle of April, when the SC broke the resistance on the 0.018 USD (black). That level was important since the middle of the December so definitely we can consider that as a bullish milestone. That breakout actually sorted the sentiment for the next few days. After that, we were just heading higher. Especially in the last two days, which were, frankly speaking, spectacular. Siacoin almost doubled and went from the 0.018 to 0.031 (red), which now will be the closest resistance.

This resistance is important not only because we stopped there now but also because it was respected many times since the end of December. Breakout here should trigger us a long-term buy signal and open us a way towards new long-term highs.