Latest Siacoin (SC) Price Analysis

Deep Dive

1. Post-Upgrade Profit-Taking (Bearish Impact)

Overview: SC surged 6.6% on August 1 after its V2 hardfork Phase 2 (CoinGabbar), but gains reversed as traders likely took profits. The upgrade introduced Utreexo syncing and Ledger support but failed to sustain bullish momentum.
What this means: Post-upgrade rallies often face sell-offs as short-term traders exit positions. SC’s 415% volume spike during the surge suggests speculative activity, which typically cools without immediate follow-through demand.

2. Low Liquidity Amplifies Swings (Mixed Impact)

Overview: SC’s 24h trading volume fell to $7.46M (-25.97%), with a turnover ratio of 4.19% – indicating thin liquidity.
What this means: Low liquidity exacerbates price swings, allowing modest sell orders to drive outsized declines. The 1.48% drop occurred alongside a neutral RSI (53.55), showing no extreme selling pressure but highlighting vulnerability to low participation.

3. Technical Resistance Holds (Bearish Impact)

Overview: SC trades below key moving averages ($0.003206 30-day SMA, $0.003589 200-day EMA) and faces resistance near the 38.2% Fibonacci retracement ($0.003414).
What this means: Persistent failure to break above these levels signals weak bullish conviction. The MACD histogram turning positive (+0.0000166) hints at potential stabilization, but a bearish crossover in the MACD/Signal lines suggests caution.

Conclusion

SC’s dip reflects profit-taking after its upgrade-driven rally, compounded by thin liquidity and technical resistance. While the MACD hints at stabilization, reclaiming $0.0032 (30-day SMA) is critical for a bullish reversal. Key watch: Can SC hold above the 50% Fibonacci level ($0.003323) to avoid a retest of June’s $0.002939 low?

TLDR
Siacoin rose 0.2% in the past 24h, but its 7-day gain of 3.59% suggests broader momentum. Key drivers:

1. V2 Hardfork Adoption – Phase 2 upgrades (Utreexo, RHP4) went live July 6, improving network efficiency.
2. Exchange Support – Bybit, CoinW, and others confirmed SC hardfork compatibility, reducing upgrade risks.
3. Technical Breakout – MACD bullish crossover and RSI neutrality hint at short-term momentum.

Deep Dive

1. V2 Hardfork Progress (Bullish Impact)

Overview:
The July 6 Phase 2 hardfork introduced Utreexo syncing (reducing node sync times by ~90%) and RHP4 storage upgrades. While the upgrade occurred six weeks ago, recent exchange integrations like Bybit’s June 30 network support announcement have renewed attention.

What this means:
Post-upgrade stability reduces technical risks for SC holders. Utreexo lowers barriers for new users to join the decentralized storage network, potentially expanding demand for SC as the platform’s utility token.

What to look out for:
Adoption metrics like active hosts/renters on Sia’s network and SC’s burn rate from storage contracts.

2. Exchange-Driven Liquidity (Mixed Impact)

Overview:
Major exchanges like Binance, Kraken, and Upbit temporarily halted SC deposits/withdrawals during June’s hardfork but resumed services by mid-July. This normalization eased trading friction, with SC’s 24h volume at $9.9M (-65% from July’s peak).

What this means:
While reduced volatility suggests lower speculative activity, restored liquidity lets traders reposition. SC’s turnover ratio (volume/market cap) of 5.45% signals moderate liquidity – typical for mid-cap utility tokens.

3. Technical Indicators (Neutral/Bullish)

Overview:
- MACD: Bullish crossover (histogram +0.0000105) since August 21.
- RSI14: 55.31 – neutral zone, no overbought pressure.
- Price holds above 30-day SMA ($0.0032078), a key support.

What this means:
The MACD suggests upward momentum could continue if SC holds $0.0032. However, resistance looms at the 200-day SMA ($0.0033525), last tested in May.

Conclusion

Siacoin’s modest 24h gain reflects a balancing act between fading hardfork hype and improving network fundamentals. The key catalyst remains adoption of its decentralized storage solutions, while technicals suggest cautious optimism.

Key watch: Can SC sustain momentum above its 30-day SMA ($0.0032) amid altcoin season signals (CMC Altcoin Season Index +8.33% in 24h)?