Siacoin Price Prediction and Analysis in April 2020

We will be looking into the past price trends of SIA and several market opinions in order to develop a Siacoin price prediction for April 2020.

Siacoin Overview

Siacoin is a blockchain-based cloud storage system that was created in June 2015. SIA/SC is the native token of the platform that enables several functions in the environment, such as transactions, hosting, renting data storage, and file encryption.

Today, Siacoin (SC) is trading at a price of $0.001334, with a decrease of -8.07% in the last 24 hours. The crypto holds the 72nd rank according to a market cap of $55,772,553, with a circulating supply of 41.817.047.634 SC. There has been $753,294 worth of SC coins traded in the last 24-hour period.

Siacoin Price Prediction: Analysis

Like most of the crypto market, the coin also lost a significant amount of value on March 12^th, dropping from $0,001776 to $0,000958. Toward the end of the next day, SIA climbed back up to $0,001123.

Throughput the next week, Siacoin tried to establish itself above $0.0011, trading mostly around $0.0010 and briefly touching the $0.0012 level.

On March 20^th, SIA reached $0,001425 but fell back down to $0,001312. Up until March 26^th, Sia showed signs of a consolidation trend, as it was trading mostly between $0.0012 and $0.0013.

Source: tradingview

On March 28^th, Sia went below the $0.0012 resistance, dropping to $0,001197. The coin, however, closed the day at $0,001221. The next day, the crypto once again went below $0.0012, down to $0,001159, but this time there was no recovery to bring the value back to previous support levels.

The coin slowly climbed back up, as, on the last day of March, Sia opened with a price of $0,001248 and closed at $0,001277. The start of April was uneventful in terms of intraday movements, as Sia continued to trade around the same levels of $0.001270.

On April 3^rd, Sia broke above the $0.0013 level, closing the day at $0,001331. This started a bullish trend, as the coin continued trading above $0.0013, and on April 5^th, it increased once again and reached $0,001407. The next day, SIA struggled to keep itself above new values, but on April 6^th, it started trading above $0.001450 levels, even reaching $0.0015 on April 7^th.

The resistance, pivot, and support levels calculated by WalletInvestor are:

• Resistance Level (R3): 0.00156
• Resistance Level (R2): 0.00153
• Resistance Level (R1): 0.00149
• Pivot Point: 0.00146
• Support Level (S1): 0.00142
• Support Level (S2): 0.00139
• Support Level (S3): 0.00135

Developments

On March 18^th, Sia revealed that they made multiple updates for their blockchain and Skynet system:

“We just released Sia v1.4.4! This release includes multiple improvements to Sia and Skynet. Uploads will resume faster, Skynet supports uploading directories, and now has base infrastructure for encrypting Skylinks (fully in v1.4.5),” – tweeted the project.

Developers are now able to download Sia v1.4.4 and expand the proficiencies of the platform. Up until the update, Skynet has had several bugs and lacked flexibility.

Skynet uploads are public to all users that got the link, unlike regular Sia storage.

Skynet enables the sharing of files and hosting of websites. Developers that have made their own apps can now register on Skynet or download Skynet Apps in the Skynet App store.

Sydney Ifergan tweeted: “Siacoin (SC) now have their own Skynet App Store. Perhaps they do not need any other app store. Nice development indeed. Establishing Superiority.”

In other related news, the ‘SkyPages’ team won the MITBitcoinClub Hackathon Grand Prize and the Sia track. Because of the coronavirus outbreak, the blockchain at Siacoin was initially forced to reschedule, but then made it into an online-only event meetup.

“We are hosting a #SiaSkynet and @Filebase meetup during Boston Blockchain Week @blockchainwk. Join us on March 11th at CIC for drinks and dinner. Thanks to @CICBoston for sponsoring the beautiful space,” – revealed the tweet.

Sydney Ifergan stated that SIA should have had a greater impact on the market: “If the SiaCoin (SC) storage economics and the low-cost storage is true, the cryptocurrency market should be burning hot with the news; however, there is little excitement! Perhaps, they need some better marketing and reach.”

Sia Skynet has had 40,000 files uploaded and shared via Skynet since its launch.

The Skynet is a two-week event that focuses on “Usability/User Experience, dApps/DeFi, SDKs, Infrastructure; and company-sponsored challenges from Gold Sponsors: @SiaTechHQ, @NervosNetwork, and @fold_app!”

During the workshop that went live on Skynet, David Vorick explained the inner working of Skynet and presented what exciting applications can be built on it, as well as Skynet APIs and SDKs.

There have been no other notable developments or mentions in the news regarding Siacoin or its project in the past month.

Siacoin Price Prediction: Market Opinion for April 2020

As there have been a number of crypto forecasting platforms that have issued their own Siacoin price prediction for April 2020, we have decided to incorporate some of the most relevant ones to provide you with a better insight into the market sentiment.

Digitalcoinprice

Digitalcoinprice predicted that in April, Siacoin will have a trading value of $0.00340415, which would mean a rise of 135.24%.

Altcoinforecast

Altcoinforecast expects the coin to end the month of April at a price of $0.0013.

Gov.capital

Gov.capital projected that Siacoin will have a closing price of $0.00561 for April, with a minimum possible value of around $0.00555 and a maximum value of $0.005666.

Coinpredictor

Coinpredictor expects Siacoin to increase with +1.3%, which would place the coin around $0.002055, but towards the end of April, the site predicts a change of -47.5%, which would mean a value of $0.001065 for Sia.

Bitverzo

Bitverzo’s Siacoin price prediction for April 1st, 2020, was that Siacoin would be trading at an average price of $ 0.003289, with a minimum of $ -0.004200 and a maximum of $ 0.010925.

Walletinvestor

Walletinvestor launched predictions for the next 10 days of April, along with the possible minimum and maximum values for Siacoin.

Cryptoground

Cryptoground estimated that in one day, Siacoin will be changing hands at $0.0020, with an increase of 39.22%, and the site also expects that next week the coin will reach $0.0020, with a rise of 36.00%.

Cryptorating

Cryptorating’s prediction for the next day of April is that Siacoin will trade at $0.001642, with a rise of 12.54%, and the site estimated that Siacoin will trade, in one week, at a price of $0.001109, with a decrease of -23.99%.

Siacoin Price Prediction: Verdict

You have now reached the end of our Siacoin price prediction for April 2020. We hope that the information we have displayed in this article will prove useful to you in your upcoming SC trading endeavors.

Featured image: nulltx.com

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