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Syscoin Technical Analysis: Syscoin Bulls Eye $0.44

Analytics

cryptoknowmics.com 02 June 2022 21:23, UTC
  
Reading time: ~2 m

Syscoin prices are firm, adding 10 percent. SYS crypto prices are above the middle BB with relatively high trading volumes. This is bullish and could anchor optimistic traders angling a retest of March 2022 lows of $0.44.

Past Performance of Syscoin

As per the development in the daily chart, Syscoin crypto is in a bull breakout formation. Syscoin prices are up 10 percent in the past 24 hours, outperforming the USDT. With high participation and a bullish breakout formation, SYS token bulls would likely add to their longs in the days ahead.

Syscoin Technical Analysis

 The SYS token is breaking out following a squeeze, as the BB shows. After a period of sideways movement inside a tight $0.06 channel, the SYS coin is racing higher. Prices are trading above $0.23, retracing from $0.26 highs registered earlier on. The $0.26 level marks May 11 highs. Syscoin bulls may find an opportunity to load the dips at spot rates, targeting $0.26. This preview is only valid as long as prices are above the $0.17 support line. On a more cautious approach, risk-averse traders may wait for a complete reversal of May 11 losses. A close above $0.23 may propel the SYS coin towards $0.44, confirming the bulls of May 13.

What to Expect from SYS?

Buyers stand a chance. As SYS technical analysis shows, the coin may race to $0.44, marking the end of the recent bear run.


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