Market Overview: Siacoin (SCUSDT) 24-Hour Technical Summary for 2025-08-20

• Price broke key support near $0.002960 before finding short-term stability around $0.002975–$0.002980.
• Momentum slowed in the final 6 hours, with RSI nearing oversold territory and MACD diverging slightly from price.
• Late-day buying interest emerged after a deep selloff, forming bullish inside bars and bullish engulfing patterns.
• Volume spiked during the morning selloff, but afternoon volume declined despite a rebound, suggesting diverging sentiment.
• Price has shown resilience above 38.2% Fibonacci level from the earlier bearish swing.

Market Overview

Siacoin (SCUSDT) opened at $0.002960 on 2025-08-19 at 12:00 ET, reached a high of $0.003031, and hit a low of $0.002939, closing at $0.002990 on 2025-08-20 at 12:00 ET. Total volume for the 24-hour period was 44,173,606.00, with notional turnover of $132,396.36. The asset experienced a choppy session with alternating bearish and bullish impulses.

Structure & Formations

Price action formed several notable patterns, including a bullish engulfing pattern near $0.002975–$0.002980, suggesting short-term accumulation. A doji appeared around $0.002960–$0.002962, indicating indecision. Support levels were identified at $0.002955, $0.002945, and $0.002935, while resistance levels emerged at $0.002985, $0.002995, and $0.003012. The price appears to have bounced off the 38.2% Fibonacci retracement level from a recent bearish swing, which could offer temporary support.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed over twice during the session, creating a mixed signal. The 20 MA crossed below the 50 MA during the morning selloff, a bearish signal, but later reversed as the 20 MA crossed back above. On a daily chart, the 50-period MA is currently above the 200-period MA, indicating a mild bullish bias for the broader trend, though the 200 MA is still acting as resistance.

MACD & RSI

The 15-minute MACD line crossed below the signal line early in the morning, confirming the bearish move. However, it has since returned to positive territory as price rebounded. RSI fell to around 28 by late afternoon, signaling oversold conditions, though it has since recovered to mid-30s. The divergence between falling RSI and rising price suggests possible short-term consolidation ahead.

Bollinger Bands

Volatility increased sharply during the early selloff, with the Bollinger Bands expanding. Price fell below the lower band near $0.002939–$0.002940, signaling oversold conditions. Since then, price has moved back toward the middle band and may find support near the lower band in the coming session. A sustained move above the upper band would signal renewed bullish momentum.

Volume & Turnover

Volume spiked during the early morning selloff, particularly between 19:00 and 20:30 ET, coinciding with a sharp decline in price. However, volume declined during the afternoon rebound, despite a strong move higher, indicating weaker conviction in the bullish move. The notional turnover mirrored this trend, with the largest trades occurring during the bearish phase. Divergence between price and volume suggests mixed sentiment and a cautious outlook.

Fibonacci Retracements

The most recent swing from $0.003030 to $0.002939 saw price test key Fibonacci levels. The 38.2% level at $0.002975 and the 50% level at $0.002985 appear to be critical. Price found support at the 38.2% level and bounced upward. A move to the 61.8% level at $0.002995 or above could signal a potential short-term reversal, while a break below 38.2% would likely target the 23.6% level at $0.002960.

Siacoin may continue to consolidate between $0.002975 and $0.002985 in the next 24 hours as traders test key Fibonacci and moving average levels. While short-term momentum appears to be stabilizing, a breakdown below $0.002960 could rekindle bearish sentiment. Investors should monitor for a decisive break above $0.002995 for a more bullish stance, but remain cautious of potential volatility and divergence in volume.