Market Overview: Siacoin (SCUSDT) 24-Hour Technical Summary

• Siacoin (SCUSDT) experienced a bearish reversal pattern in the early session before consolidating in a narrow range.
• Price action remained below key moving averages, indicating bearish momentum and bearish control.
• Volatility expanded in the early morning, with a sharp drop from $0.00366 to $0.003488, but failed to sustain the move.
• RSI moved into oversold territory in the early hours, suggesting potential for a short-term bounce, but without volume confirmation.
• Bollinger Bands show a reversion to the mean, with price hovering near the middle band and no clear breakout signal.

Siacoin (SCUSDT) opened at $0.003632 on 2025-07-21 at 12:00 ET and closed at $0.003558 at 12:00 ET on 2025-07-22, with a high of $0.00367 and a low of $0.003475. Total volume was 132,867,679.0 and total turnover (notional value) was approximately $469,123.00.

Structure & Formations

Price action on the 15-minute chart showed a sharp bearish reversal in the early morning hours, with a candle forming a bearish engulfing pattern at the top of a short-term resistance zone near $0.00366. This pattern suggested a shift in sentiment from bullish to bearish. Later in the session, price found support near $0.003550–$0.003570, where a cluster of doji and small-bodied candles indicated indecision and a potential short-term bottoming process.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were both below the current price, reinforcing the bearish bias. On the daily chart, the 50-period, 100-period, and 200-period moving averages were all above the current price, indicating that the asset remains in a medium-term downtrend.

MACD & RSI

The MACD showed bearish divergence, with the histogram contracting after a sharp sell-off in the early hours, suggesting weakening momentum. RSI dipped into oversold territory (below 30) near $0.003488 but failed to generate a strong bullish signal due to lack of volume and follow-through buying. This suggests that while a short-term bounce is possible, the overall trend remains bearish.

Bollinger Bands

Volatility expanded during the early morning sell-off, pushing price near the lower band of the Bollinger Bands. By the afternoon, price had moved back toward the middle band, indicating a potential reversion to the mean. However, the absence of a clear breakout suggests that traders are waiting for a catalyst to break out of the consolidation phase.

Volume & Turnover

Volume spiked during the early morning sell-off, with a candle at 01:30 ET showing a high volume of 7,316,391.0 and a significant price drop. However, subsequent volume has been lower and more evenly distributed, indicating a lack of follow-through buying. Turnover (notional value) also peaked during the same period, confirming the strength of the bearish move.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing (from $0.00366 to $0.003488), price found support near the 61.8% level ($0.003550), which aligns with the recent consolidation range. This suggests that $0.003550 is a critical level to watch for potential reversal or continuation.

Looking ahead, Siacoin could test $0.003550 again in the next 24 hours as a key support level. If buyers fail to defend this area, further downside toward $0.003500 may follow. Traders should remain cautious due to the current bearish bias and lack of strong bullish momentum.