Crypto Contest April 11: Siacoin

Siacoin (Poloniex: SCUSD) has broken out of the triangle pattern in the weekly chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, Siacoin began a wave one (blue sub-waves i-ii-iii-iv-v) advance in December 2015. The red wave one finished in January 2018, and the red wave two (blue sub-waves a-b-c) correction ended in February this year. If this wave count is correct, Siacoin should be heading next towards the January 2018 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

Siacoin provides an open-source low-cost solution for cloud storage. Crypto Big Boss reviewed the coin in January this year.

(Sources: Siacoin

About the author: Markus Aarnio

I have 20 years of investing experience. I have traded stocks, commodities, cryptocurrencies, and forex markets.