Market Overview: Siacoin/Ethereum (SCETH) 24-Hour Price Action

Summary
• Price rose from $0.00000051 to $0.00000066 on elevated volume.
• Momentum accelerated in the latter half of the 24-hour period.
• Volume surged over 26 million ETH as price tested key levels.

Siacoin/Ethereum (SCETH) opened at $0.00000051 (12:00 ET - 1) and closed at $0.00000066 (12:00 ET) today, reaching a high of $0.00000066 and a low of $0.00000051. Total volume for the 24-hour period was 118,891,960.0 ETH, with a notional turnover of approximately $79.27 (based on 2025-11-07 ETH price).

Structure & Formations

The candlestick structure showed a clear upward trend, with a key support level forming around $0.00000051–$0.00000053. A bullish engulfing pattern was visible starting at 19:30 ET on 2025-11-06, followed by a series of higher highs and higher lows. A doji formed at 00:30 ET on 2025-11-07, signaling a brief pause in momentum before a sharp rally resumed.

Moving Averages

On the 15-minute chart, the price closed above both the 20-period and 50-period moving averages, suggesting a short-term bullish bias. The 50-period SMA has been rising alongside price, reinforcing the upward trend. Longer-term averages (50/100/200 daily) have not yet flipped to bullish, indicating the rally remains short-term in nature.

MACD & RSI

The MACD remained in positive territory for the last 6 hours, confirming the bullish momentum. RSI rose to around 65 by the end of the session, suggesting moderate strength but not yet overbought conditions. A sustained push above 70 could signal overbought conditions, potentially leading to a consolidation or pullback.

Bollinger Bands

Volatility expanded significantly during the late evening and early morning hours, with the upper band reaching $0.00000066. Price spent most of the session near the upper band, indicating strong buying pressure. A potential retrace to the middle band may offer a near-term opportunity for a continuation of the trend.

Volume & Turnover

Volume spiked multiple times, with the most notable surge occurring at 19:45 ET (2025-11-06), where a large volume of 11,376,981 ETH fueled a $0.00000020 rally. Turnover increased in tandem, showing no signs of divergence. The final hours saw a consolidation in volume despite a sharp move higher, indicating strong conviction.

Fibonacci Retracements

Applying Fibonacci levels to the swing high at $0.00000066 and low at $0.00000051, the 38.2% retracement level is at $0.00000057, and the 61.8% level is at $0.00000062. Price found support near $0.00000057 and pushed higher, confirming the 61.8% level as a key area for near-term consolidation.

Backtest Hypothesis

The absence of RSI data for SCETH complicates the backtesting process. To proceed, the exact ticker symbol must align with the data vendor's naming convention or an equivalent RSI dataset must be provided. Once validated, a backtest can identify overbought conditions (RSI > 70) and test the performance of a “one-day-hold” strategy from 2022-01-01 to the present. This approach could provide insight into how SCETH has historically performed after reaching overbought territory.