The SC coin price action makes an inverted flag pattern that can shortly give a breakout. Will the breakout bring back bullish attention for Siacoin?

Siacoin (SC) is the <a href="https://www.cryptoknowmics.com/news/siacoin-price-prediction-2021-2025-will-sc-reach-0-1-by-the-end-2025/">primary token</a> used by the Sia network, built upon the Ethereum network. It functions as a utility token for offering decentralized cloud storage services to its customers.

Let us move ahead to read about the Siacoin technical analysis.
<h2>Past Performance of SC</h2>
The SC coin price action shows sideways movement between the $0.013-$0.017 levels after the 50% downfall from the $0.027 mark in November-end. Thus, the price action forms an inverted head-and-shoulder pattern in the daily chart. Moreover, the price bottles up within the triangle of the flag pattern, indicating a breakout shortly.

<img src="https://s3.tradingview.com/snapshots/a/aQ68l6Jx.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/aQ68l6Jx/">SC/USD Daily Chart</a>
<h2>SC Technical Analysis</h2>
The SC coin price shows constant lower price rejection in the daily candles formed near the support trendline of the flag. Moreover, on neglecting the wicks and tails, the price seems to be making a double bottom pattern.

The RSI indicator at 45% shows the slope finding support near the 14-day SMA and plans to rise above the central mark in the daily chart. Moreover, the RSI slope gives a bullish divergence in the past two dips. 

The MACD indicator shows the fast and slow lines are keeping an uptrend move to reach the zero line mark. The bullish histograms sustain the trend despite bearish attacks. 

Traders can find the influential resistance levels of $0.017 and $0.021 playing a key role in the future trend. On the other hand, the $0.013 and $0.0095 support levels provide an excellent buying opportunity.
<h2>Upcoming Trend</h2>
The breakout of the inverted flag pattern will lead to a decisive future trend. However, despite the bearish nature of the pattern, the technical indicators signal a rise in underlying bullish sentiments. Therefore, a simple push in buying pressure can lead to the upside breakout and drive the prices higher.

SC Technical Analysis: Inverted Flag Breakout Aspires to Bring Bullishness Back

The Siacoin (SC) coin price action makes an inverted flag pattern that can shortly give a breakout. Will the breakout bring back bullish attention for Siacoin.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

SC Technical Analysis: Inverted Flag Breakout Aspires to Bring Bullishness Back

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