Market Overview: SCETH (Siacoin/Ethereum) 24-Hour Movement on 2025-12-24

Summary
• Price action showed consolidation and a minor bearish breakdown below 500,000 USD.
• MACD and RSI suggest weakening momentum, with RSI signaling oversold territory.
• High volume spikes at 20:30 and 00:30 ET coincided with price reversals.

Siacoin/Ethereum (SCETH) opened at $0.0000005000 at 12:00 ET − 1, touched a high of $0.0000005200, and a low of $0.0000004900, closing at $0.0000005000 by 12:00 ET. Total 24-hour volume was 6,427,115.0 units, with a turnover of approximately $3.21 (calculated as volume × average price of $0.0000005000).

Structure & Formations

The 5-minute chart revealed a consolidation pattern between $0.0000004900 and $0.0000005200. A bearish breakdown occurred briefly at 20:30 ET, breaking key support at $0.0000004900. A hammer-like reversal pattern appeared at 00:30 ET, suggesting short-term bullish sentiment.

Moving Averages

Short-term averages (20/50-period) crossed below the price at the time of breakdown, reinforcing bearish momentum. Daily averages (50/100/200) remained neutral, with price hovering near the 50-day line, suggesting medium-term neutrality.

MACD & RSI

MACD trended downward with bearish divergence, confirming weakening momentum. RSI bottomed near oversold territory (below 30), hinting at possible short-term reversal. However, a lack of follow-through suggests traders remain cautious.

Bollinger Bands

Volatility remained narrow in the morning, with price moving closer to the lower band. A brief expansion at 20:30 ET signaled increased uncertainty. Price retested the upper band twice, failing to break out.

Volume & Turnover

Volume surged at 20:30 ET and again at 00:30 ET, aligning with price swings. These spikes confirmed bearish and then bullish reversals. Turnover followed volume closely, with no significant divergence observed.

Fibonacci Retracements

The 61.8% Fibonacci retracement of the recent 5-minute move aligned closely with the $0.0000004900 support, where price stalled twice. A potential 38.2% retracement on the upward move from that point may target $0.0000004980 as a near-term pivot.

The 24-hour session ended near the opening price, suggesting indecision. While RSI shows oversold conditions, the lack of follow-through volume on the upward move suggests traders remain skeptical. SCETH may test the $0.0000004900–$0.0000004950 range again in the next 24 hours, with a risk of further consolidation or a small breakout either direction.