RATE Group | Trade Recommendation: Ethereum | Hacked: Hacking Finance
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Trade Recommendation: Ethereum | Hacked: Hacking Finance

30 Jul Trade Recommendation: Ethereum | Hacked: Hacking Finance

Posted at 13:41h in Ethereum News by

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Siacoin/Bitcoin (SC/BTC) looked promising in April 26, 2018 as it attempted to take out resistance of 0.000003 and kickstart a new bull run. The breakout looked good on paper. Volume skyrocketed, which sent the market to as high as 0.00000425 on the same day. Unfortunately for buyers above the resistance, the price action was used to dump positions.

The heavy selling pushed the market below 0.000003 on April 29. As often is the case, the false breakout sent the market down to the bottom end of the range. This gives us an opportunity to buy the bottom.

Technical analysis show that SC/BTC is respecting firm support of 0.0000012. We have technical indicators to support our view.

First, we can see that the RSI is in extreme oversold territory. However, it is bouncing from long-term support of 22. In other words, the market is likely not to go weaker at this point. This sentiment is shared by the stochastics. SC/BTC is bouncing from long-term support of 4.30, which is…

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