The overall trend for Syscoin price is strongly bullish right now. SYS occasionally offers pullbacks and continues to climb to higher levels. After the recent corrective rally to the $0.85 support, the coin aims to recover the $1.32 resistance, hoping to resume this uptrend.
Main technical points:
- The 20 and 50 EMA are strong support for SYS price.
- SYS’s intraday trading volume was $41.3 million, representing a 48.2% increase.
The source- Tradingview
Syscoin price shows a steady recovery of new higher highs and lower lows in its technical chart. The coin produced an all-time high around the $1.32 mark on Jan. 2. However, as shown by several higher rejection candles, supply pressure is intense at This level immediately rejects the price.
During this correction, the SYS/USD price dropped 35% and fell to the $0.85 mark. SYS price gained enough support from this level, starting a new rally.
Most of the pullbacks in SYS are bouncing back from the 20 MA. However, even if SYS price did break this 20 MA support, the trend coin would not breach the 50 MA. Therefore, until the price sustains above these moving averages, crypto traders can maintain the bullish sentiment.
The Moving Average Convergence Divergence indicator shows that the MACD and the signal line provide a bullish crossover above the neutral zone (0.0), indicating a buy signal.
SYS price could retest $0.132 . mark
The source- Tradingview
A V-shaped recovery in SYS price is heading towards the ATH resistance near $1.32. The price is currently trading at $1.17, predicting a 42% increase from the previous higher low of $0.82.5. Once the price makes a proper break out of the ATH resistance, crypto traders can seize the long-term opportunity.
The trend-based Fibonacci extension indicates overhead resistance for SYS price above the $1.20 resistance at $1.48, followed by $1.66. The slope of the Relative Strength Index (20) has regained the 20-SMA and is slowly approaching the overbought zone.