Siacoin Price Prediction: 2024, 2025, 2030

SC price prediction: Key highlights

1. Primary support and resistance levels

• The highest resistance level on the weekly chart might stand at $0.02, while the lowest support level was observed at $0.002.

2. Market sentiment

• The market was predominantly bullish in March 2024.

3. Predictive forecasts

• According to our AI/ML predictive algorithms, SC's average price is anticipated to hit $0.1 by 2027 and is forecasted to rise to $1 by 2030.

Get insights on SC via a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

SC technical analysis: Will the bulls falter?

Technical developments have garnered investor attention in SC, yet the critical question remains on how these advancements have been reflected in the actual Siacoin price prediction for 2024. Analysis of the weekly chart for the majority of the period under review showcased SC facing a challenging period characterized by bearish dominance. 

This was evidenced by the continuous declines following its rejection at the $0.004 mark in mid-April. The level was rigorously tested from mid-March onwards, yet the bulls lacked the strength to breach it, leading to a prolonged downtrend. By June, the token had reached its lowest support at $0.002. 
 

A revival in mid-June was noted, with SC momentarily touching this resistance by month-end. However, it was unable to sustain this momentum. Nevertheless, this resurgence was short-lived, and further declines ensued. 

A shift in the market sentiment was observed from mid-October, as SC began to exhibit a pattern of higher highs and higher lows, eventually overcoming the $0.004 resistance by November. 

This momentum continued, with the altcoin reclaiming $0.007 as a support level by January and establishing a new peak resistance at $0.01 by mid-February. The sudden upturn in Siacoin’s value could be attributed to various factors. Most notably, February witnessed substantial advancements aimed at improving the network's stability, performance, and overall user experience. 
 

Nevertheless, the asset faced a setback from the $0.01 level, leading to a subsequent dip. At the time of writing, the value of one SC was $0.0090. The current downturn may be indicative of a price correction phase.

Should the current support level break, there is a potential for the price to regress to $0.006, effectively tilting the market back in favor of bears. Conversely, if bullish forces prevail, overcoming resistance with sustained buying momentum, SC could ascend to as high as $0.02 in 2024. This level can likely serve as a barrier to further gains.

The sentiment towards the asset remains quite optimistic, buoyed by predictive models that foresee its continued growth. According to these models, the average trading price could reach as high as $0.1 by 2027. 

Projections for 2030 suggest an average trading price of over $1. This outlook underscores the long-term potential that lies ahead for Siacoin despite the short-term dips.

SC's 2024 roadmap: Key indicators to watch and trade

• The Relative Strength Index (RSI) experienced a decline below the 50 line in May, signaling a loss of momentum. Towards the end of October, it crossed above the zero line and displayed fluctuations around the overbought territory from November to mid-February. 
• This indicated periods of high buying interest. Yet, from mid-February, it has continued to drop, with its current value standing at 53.30. It suggested a moderate uptrend in the market.
• The 50 Exponential Moving Average (EMA) acted as a resistance for the price until the end of October. The strength of the upward price movement was sufficient to push the price above the 50 EMA, where it has since remained. This indicated a bullish trend.
• The price candles went below the 20 EMA in May until the end of October, albeit with a brief surge above it between July and August. This showed a temporary shift in market sentiment.
• A golden cross occurred close to December, as the 20 EMA crossed above the 50 EMA. This indicated a strengthening of the current uptrend. Following a recent dip in price, it was observed moving closer to the 20 EMA, indicating potential price support or a narrowing of the bullish momentum.
• The trading volume was notably low until October, reflecting a lack of investor engagement or confidence. A slight recovery in trading volume was observed thereafter, coinciding with the price reaching its highest resistance level. 
• The significant increase in volume alongside the price spikes was indicative of growing investor interest and could signify a more sustained price movement.