Market Update: Sia Coin (SC/BTC) - Not Dead Yet!steemCreated with Sketch.

in cryptocurrency •  7 years ago 

SC/BTC

Consolidating near the top of a channel (red).
If Sia holds and breaks above the channel, we are in for a 20% - 50% gain!!

Analysis

Support 1: 157
Support 2: 141

Resistance 1: 220 - 240
Resistance 2: 283

  • If price breaks above red channel, buy looking for price action similar to the green arrows
  • If price breaks below the consolidation, look for a buy at 141 - 157

Happy trading!

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i liked ur post keep it up and please like and upvote my post also please its a humble request. As i have done for u.

@vampire135 I have followed you, chuck me a follow back ;)

folowed

Thank u I will also follow u

Do you want to win votes? Follow this user and give upvote @randowhale

What do you think about Sia coin as a Project? Also, I have followed you, follow back please!

@coins4max followed ;)
Sia as a project is fundamentally quite good. However, they're going to have basically unlimited coins (which means unlimited supply). So the coins themselves will struggle to gain immense value due to the huge supply (but within the next year we should see it worth double-triple what it is now at some point, probably a simple pump and dump)

Also note that Sia is consistently on the front page of Bittrex for volume, so it won't lose significance while there

Yes, that's the part which is a drawback I guess. However, I dont understand why they would go for unlimited supply!!?? It makes the coin vulnerable to inflation does it not?