Siacoin technical analysis. SC-BTC on December 04, 2018

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After a long-term decline, support was found, close to the minimum trade levels for the entire history of this chart. On a large scale, we are seeing a pullback to -89%, which is more than enough to start the formation of a new ascending wave. After such a loss of value, projects like Siacoin are restored to their former, higher levels. Strong resistance that will have to face to build further large-scale growth to be near the level of 175, which corresponds to Fib 0.786. Even in the case of a lack of strength to move higher, at least the market has a huge potential to touch this mark. Since this project is primarily a decentralized cloud storage platform and given the direction in which it is developing, there is every chance for it to become quite popular and in demand.