Most cryptocurrency users know all too well the prices of altcoins tend to fluctuate depending on how Bitcoin’s value is evolving at that time. As far as the SysCoin price is concerned, that situation is not that different. However, it seems as if this market is undergoing some interesting changes, despite the road ahead remaining very steep and long.
The Current SysCoin Price Trend
With Bitcoin remaining as volatile as it has ever been, it is not entirely surprising to see the alternative markets struggle along the way. There doesn’t appear to be any real stable ground to speak of at this time, albeit that situation might eventually come to change in the near future. For SysCoin, its price chart shows there are plenty of ups and downs along the way, which can make it rather interesting for traders and speculators to make some money.
SYS/BTC Trend and Analysis
With Bitcoin still on very shaky ground, there are opportunities for traders to make some money by flipping altcoins and Bitcoin back and forth. Most markets are struggling in this regard, but there are still some interesting uptrends. For SysCoin, it seems the bottom has been found – at least for today – and the SYS/BTC ratio is moving up again every so slightly.
After dropping to the 365 Satoshi range, it now seems SYS/BTC is heading back to the 385-390 Satoshi range. There have been some strong attempts to keep this uptrend in place, although there are still some dips along the way to be wary of at all times. It seems this chart is perfectly mimicking Bitcoin’s USD chart right now, as those dips and surges will effectively influence the SysCoin price as well. Only time will tell whether or not this will be for better or worse.
The big question is whether or not this altcoin can effectively sustain the current trend with the little trading volume it has. Unlike most alternative markets, SysCoin doesn’t generate $1m worth of trading volume. Not entirely abnormal for a project ranked 190th by market cap. It is also interesting how SYS/BTC on Binance generates over 74% of the overall SysCoin volume. That is not necessarily a good thing, but this is the go-to market for anyone who wants to get involved in trading this altcoin right now.
SYS/USD Trend and Analysis
It would appear things are a bit less exciting where the SYS/USD ratio is concerned. At least for today, there has been mostly a small gain or a small loss to note, with no real indication as to where this market will be headed next. It is evident the $0.045 level is considered to be a strong price point, albeit it remains to be seen if the price will head to the lower regions again if Bitcoin’s uptrend would fall apart at some point.
A rather interesting precedent occurs to see a lower SYS/USD value in the coming hours and days. Earlier today, the value dropped to $0.431 at one point, although a sharp rebound was triggered shortly afterward. That uptrend was met with another push down before the SysCoin price eventually rose back to the $0.452 level. Given the weak trading volume, however, it would not take much effort to send this market in either an upward or downward direction.
Trading Indicators Remain Neutral
It is very difficult to determine where the SysCoin price is headed next. Even the technical indicators such as the RSI and MACD do not show any real indication as to what will happen next. It would appear the overall technical analysis sentiment on TradingView is “deep sell” so this could be an indication of what is yet to come for this particular altcoin market. The sentiment is not an official market indicator and should not be treated as such, however.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.