Siacoin (SC) Price Prediction 2024-2030: Will SC Price Reach $0.01 Soon?

• The bullish SC price prediction ranges from $0.0736 to $0.0812.
• SC price might also reach $0.1 in 2024.
• SC’s bearish market price prediction for 2024 is $0.001930.

What is Siacoin (SC)? 

The Sia Foundation describes itself as a non-profit organization committed to advancing and enhancing the Sia decentralized storage network. As expected from a decentralized network, Sia also promises that it aims to promote a future where “individuals entirely own their data.” Apart from becoming a decentralized network, the Sia storage network also acts as a market place to leverage underutilized hard drive capacity worldwide.  

Sia’s blockchain is currently powered by its utility token, the Sia coin (SC). It helps in powering up the ecosystem and is essential for conducting network activities. As per documents, some of the mentioned utilities of Siacoins include: Siacoins can be used as payment to pay for storage; SC can be earned when storing others’ data; and making transactions. 

As it is mostly focused on decentralized data storage, Sia ensures that the file uploaded undergoes fragmentation, encryption, and global distribution. While renters upload files, the hosts store these files, and the entire operation is automated. To ensure privacy and enhance the security of the network, Sia guaranteed that the host would never gain access to the files, as they only received encrypted fragments of the complete files. 

Siacoin (SC) Current Market Status

The total supply of Siacoin is 56,228,295,000 SC, while its circulating supply is 56,204,153,962 SC, according to CoinMarketCap. At the time of writing, SC is trading at $0.01079, representing a 24-hour fall of 0.75%. Meanwhile, the trading volume of Klaytn in the past 24 hours represents a 1290.30% surge.

Some top cryptocurrency exchanges for trading Siacoin (SC) are Binance, Bybit, OKX, Kraken, Gate.io, and others. Now that you know what Siacoin is and its current market status, we shall discuss the price analysis of Siacoin (SC) for 2024.

Siacoin (SC) Price Analysis 2024

Currently, Siacoin is ranked in the 85th position on CoinMarketCap. Will developments and upgrades within the Sia network increase the price of Siacoin (SC)? We shall see this in this Coin Edition price analysis 2024 article.

Siacoin (SC) Price Analysis – Bollinger Bands

The Bollinger Bands are a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilize the time period and the standard deviation of the price. Normally, the default value of BB’s period is set at 20. The upper band of the BB is calculated by adding 2 times the standard deviations to the Simple Moving Average (SMA), while the lower band is calculated by subtracting 2 times the standard deviation from the SMA. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean.

Relative to its earlier price action, SC’s recent spike has increased market volatility as the candlesticks continue to form higher highs. Initially, the candlesticks were testing the upper band of the Bollinger Band and finally crossed above it. The candlesticks breaking above caused the bands to stretch out. Despite the slight retracement, the candlesticks were still able to continue their uptrend as the bands continued to stretch a bit more.

Siacoin (SC) Price Analysis – Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is considered an overbought region, and traders expect the price to fall soon.

The RSI is currently valued at 71.03, clearly highlighting the presence of a huge number of buyers in the market. Whenever the candlesticks broke out above the upper band, they would face a correction before climbing up once again. The RSI has already hit the overbought region twice already. Looking at the momentum, it seems that prices could face a correction soon. 

Siacoin (SC) Price Analysis – Moving Average Convergence Divergence (MACD)

The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets. MACD will make the reading of a moving average cross easier. The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA. Normally, the default values for the MACD are set at the 12-day EMA, 26-day EMA, and 9-day EMA. Moreover, MACD is considered a lagging indicator as it cannot provide trade signals without any past price data. MACD plays an important role, as it can confirm trends and identify potential reversals

The MACD indicator highlights that the short term market is experiencing a surge, increasing the prices of the altcoin. Additionally, the MACD line continues to move upward after making a bullish cross. After reaching the peak, the MACD line is shifting its position from upwards to downwards, which could be a possible sign of a change in trend. 

Siacoin (SC) Price Prediction 2024

With the start of the bear market, the candlesticks faced a fall, making them reach the critical support level. Then, SC went through a gradual accumulation where the buyers and sellers were almost balanced in the market, making it trade mostly between $0.004457 and $0.002614. However, by mid-October, the bull market and greed of traders had caused the price of altcoins to reach new levels. 

This can be seen in the recent high-neck candlesticks. It seems that SC crossed through several minor resistance levels after the presence of the bulls continued to rise. Additionally, the candlesticks remaining above the 200 SMA signal that the market is highly in the positive region. 

At the same time, traders could also expect a correction as the market noticed the huge number of buyers in the area. As such, SC, with the anticipation of a bull market, could reach new levels of $0.0736. Meanwhile, an extreme bullish market could create an opportunity for SC to cross beyond the $0.1 major resistance areas. 

Siacoin (SC) Price Prediction 2024 – Resistance and Support 

SC is currently recovering from the fall it witnessed during the bear market of 2022. With the recent surge and accumulation activities, the SC price increased and crossed above the 0.236 Fib level. Additionally, the altcoin is moving closer to the second major resistance level. The current FIb level showcases the level and the price it is required to completely recover from one of its highest peaks.

Siacoin (SC) Price Prediction 2025

SC could still experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, SC will continue to rise in 2025, forming new resistance levels. It is expected that SC will trade beyond the $0.2 level.

Siacoin (SC) Price Prediction 2026

It is expected that after a long period of bull runs, the bears will come into power and start negatively impacting cryptocurrencies. During this bearish sentiment, SC could tumble into its support region of $15. Moreover, when SC remains in the oversold region, there could be a price correction soon. SC, by the end of 2026, could be trading beyond the $0.4 resistance level after experiencing the price correction.

Siacoin (SC) Price Prediction 2027

Naturally, traders expect bullish market sentiment after the crypto industry was negatively affected by the bears’ claw. SC is expected to rise after its slumber in the bear season. Moreover, SC could even break more resistance levels as it continues to recover from the bearish run. Therefore, SC is expected to trade at $0.8 by the end of 2027.

Siacoin (SC) Price Prediction 2028

Once again, the crypto community is looking forward to this year, as there will be a Bitcoin halving. Like many altcoins, SC will continue to form new higher highs and is expected to move on an upward trajectory. Hence, SC would be trading at $1.45 after experiencing a massive surge by the end of 2028.

Siacoin (SC) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment and the slight price surge expected after the aftermath, SC could be trading at $1.77 by the end of 2029.

Siacoin (SC) Price Prediction 2030

After witnessing a bullish run in the market, SC and many altcoins would show signs of consolidation and might trade sideways for some time while experiencing minor spikes. Therefore, by the end of 2030, SC could be trading at $2.03.

Siacoin (SC) Price Prediction 2040

The long-term forecast for SC indicates that this altcoin could reach a new all-time high (ATH). This would be one of the key moments, as hodlers may expect to sell some of their tokens at the ATH point. However, SC may face a slight fall before starting its upward journey once again. It is expected that the price of SC could reach $12 by 2040.

Siacoin (SC) Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, SC could surpass the resistance level of $19.

Conclusion

To summarize, if investors continue to show interest in SC and add these tokens to their portfolio, then it could continue to rise. SC’s bullish price prediction shows that it could pass beyond the $0.0736 level. Moreover, SC could surpass the $19.72 level by the end of 2050. 

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