SiaCoin has corrected rather sharply since mid-January, followed by a brief downtrend this month. However, the coin seems to be headed lower again. After facing resistance from the 50-Day EMA, Sia price has moved lower over the last few days and the next level of support for the stock will come from the 100-Day EMA at just over 220 Sats.
With no specific bullish triggers in sight, there's a good chance the coin could slip to this level. Further, Sia's MACD doesn't look poised to make a bullish crossover with the signal line right now, which is another bearish signal. SiaCoin is far from oversold territory, which allows room for further downside. However, if you look at the volume profile, it confirms the support and resistance level that SC will hold for a few next weeks.
With no specific bullish triggers in sight, there's a good chance the coin could slip to this level. Further, Sia's MACD doesn't look poised to make a bullish crossover with the signal line right now, which is another bearish signal. SiaCoin is far from oversold territory, which allows room for further downside. However, if you look at the volume profile, it confirms the support and resistance level that SC will hold for a few next weeks.