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SC/USD Daily Technical Analysis | 12 February 2018

2018-02-12 07:47 am | Resource: Technical Analysis Section | No Views : 173

SC/USD Daily Technical Analysis | 12 February 2018 Siacoin is trading against USD in an accidental direction over the interval of 240 minutes due to the convergence of the strength of all the sellers and buyers in the currency, although there is a rumor or debate on the currency forums about a split in it which could lead to the currency move violently if confirmed .
Technically, the cross-currency trend is in a classical symmetrical triangle that started in the configuration since the beginning of the first week of this month. The SMA 20 is overlapping with the pair's movement, so its signal is neutral.
The momentum indicator of MACD by default is cross-positive as it indicates a technical deviation from the first positive grade in the formation.
It is expected that, in the case of a break of the Siacoin areas 0.027 may target 0.038 levels (the target of the symmetrical triangle can not be determined until the breakout actually occurs), while if the break of 0.0211 levels may target the level of 0.0105.
Support: 0.0204 - 0.01459 - 0.0105
Resistance: 0.0282 - 0.0356 - 0.0419
Trend: neutral
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