Market Overview for Siacoin/Ethereum (SCETH): 24-Hour Analysis

• SCETH trades flat with minimal price range (500,000–510,000 satoshis) and no directional momentum.
• Volume is negligible for most of the 24-hour period, surging only twice with limited follow-through.
• A small breakout attempt to 510,000 satoshis in early morning ET failed to sustain, suggesting lack of conviction.
• RSI and MACD remain neutral, indicating a likely consolidation phase with no clear bias.
• Bollinger Bands show low volatility with price hovering near the midline, suggesting a ranging pattern.

Siacoin/Ethereum (SCETH) opened at 500,000 satoshis on 2025-10-31 at 12:00 ET and closed at the same level 24 hours later. The pair reached a high of 510,000 satoshis and a low of 490,000 satoshis during the period, forming a tight trading range. Total volume amounted to approximately 6.8 million ETH, while turnover remained modest due to the low price per unit.

Structure & Formations

The price remained tightly clustered between 490,000 and 510,000 satoshis, with no meaningful candlestick patterns emerging. A brief attempt to break out above 510,000 satoshis during early morning ET saw a small increase in volume but failed to generate follow-through, resulting in a rejection back into the range. The absence of clear bullish or bearish formations suggests a lack of conviction from market participants.

Moving Averages

Short-term moving averages (20/50) on the 15-minute chart remain within the 495,000–505,000 satoshi range, closely following the price. This indicates that the pair is in a sideways consolidation phase, with no significant trend forming. Longer-term averages (50/100/200) on the daily chart also sit near the midline of the 24-hour range, reinforcing the neutrality of the current environment.

MACD & RSI

The 14-period RSI remains centered around 50, indicating a balance between buying and selling pressure. MACD values hover near the zero line with no clear divergence from the price, suggesting that momentum is lacking and the market remains in a state of indecision. These readings support the view that the market is likely to continue ranging in the near term.

Bollinger Bands

Bollinger Bands show little expansion, with the price consistently tracking near the middle band. This indicates that volatility is extremely low and that SCETH is not deviating from its baseline behavior. A potential contraction in the bands suggests a possible breakout could be on the horizon, but no clear signal has yet emerged.

Volume & Turnover

Trading volume was nearly flat for most of the 24-hour period, with only two instances of meaningful volume spikes—once during the attempted breakout to 510,000 and once during a short-lived dip to 490,000 satoshis. Both spikes failed to result in a sustained move, indicating weak conviction and a high likelihood of continued range-bound action.

Fibonacci Retracements

Applying Fibonacci levels to the 490,000–510,000 satoshi swing, the 38.2% retracement level sits at 499,000 satoshis, while the 61.8% retracement is at 501,000 satoshis. The price has shown mild interest at both levels but has not yet broken decisively above or below them, suggesting that traders are watching for a potential breakout or breakdown.

Backtest Hypothesis

Given the flat price action and limited volume in SCETH, backtesting a momentum-based strategy would face challenges due to the lack of directional bias. However, a mean-reversion approach based on RSI and MACD neutrality could be considered, especially in conjunction with Fibonacci retracement levels. The lack of data on HOLD.P (possibly due to symbol or exchange mismatch) highlights the importance of confirming accurate ticker symbols before initiating backtests. If HOLD is the correct symbol, using that for further testing may yield more accurate results. For now, SCETH’s lack of volatility makes it a poor candidate for trend-following strategies and better suited for a watchful, range-trading approach.