Syscoin - possible bullish breakout? technical analysis, Syscoin featured in Nasdaq article

in #cryptocurrency7 years ago

Syscoin has a great community and are constantly updating their projects. Recently Syscoin got also featured in a Nasdaq report which is pretty huge!

http://www.nasdaq.com/article/microsoft-azure-bringing-blockchain-closer-to-real-world-use-cm835914

https://twitter.com/syscoin?lang=de

But now the the technical analysis: As you can see the big resistance line got a bullish breakout supported and confirmed by the huge volume. This is a possible sign for a big bullish rally. In my opinion Syscoin is about to pop. Everything is looking just fine and the coin did not profit from the 152 Billion cryptocurrency market cap ... yet. Many coins went up with far less technology or far less good fundamentals.

syscoin.png
I see here a good oportunity to take some profits from syscoin short and longterm. The developers are constantly working on their project and are constantly updating their community about their work.

Another interesting thing: Syscoin seems to have a big correlation to Vertcoin(VTC)
SYScoin 2.png

The blue line is the pricechart of VTC overlayed on the Syscoin chart. As you can see there is a big correlation of these 2 coins.
So VTC just made a 100% price jump. The correlation of Syscoin and VTC is stable since months/years.... and if the correlation will continue the price of Syscoin has to rise.

Sort:  

300% gain, yes sir!
syssys.png

Coin Marketplace

STEEM 0.20
TRX 0.19
JST 0.034
BTC 91017.04
ETH 3083.40
USDT 1.00
SBD 2.87