- Syscoin (SYS) recently started a price surge to led it to a new YTD high.
- The coin’s surge started around July 16th, and it continued until it hit a resistance at $0.145.
- The coin’s price was rejected, but a support at $0.12 stopped the fall, and now it started its surge anew.
Syscoin (SYS) price has been surging rapidly over the last week, breaching one resistance after another, barely slowing down when approaching most of them. The coin is still quite far from its all-time high, but it is still at the highest point in over a year.
Syscoin in 2020
Throughout 2020, SYS has followed only the major trends, but other than that, its volatility has been rather small. The coin started the year at $0.021, and apart from one smaller surge, it mostly remained at this level throughout January.
In February, it started surging more strongly, joining the rally that took hold over the entire crypto market. The rally took it to a strong resistance at $0.04, which stopped its progress until February 14th.
The coin finally breached it, and it surged even higher up, hitting $0.05 on February 16th, which was when the bull run suddenly ended, and the market entered started seeing a strong correction. The correction took the coin back down to $0.026 — slightly above its January levels.
SYS started another recovery when March 12th arrived, causing a well-known market crash that took SYS to its lowest point in 2020 — $0.013.
SYS recovers, then surges
After reaching its bottom, SYS started a lengthy recovery once again, and it continued growing steadily for months. The recovery continued until the coin once again approached its strongest resistance at $0.04, which rejected the price this time, causing it to drop to $0.029 by July 1st.
After that, SYS started going up again, in what originally seemed like another attempt to hit $0.04. However, around July 16th, SYS started seeing a massive price surge which kept breaking one resistance after another, eventually leading the coin all the way up to $0.145.
As Syscoin hit this level, its price was rejected, and it went down to newly-formed support at $0.12. Now, it is skyrocketing yet again, with a 60% price increase in the last 24 hours.
Conclusion
SYS is growing rapidly, which represents a great opportunity for its holders right now. It is unknown when the surge might end, and for now, SYS has the task of breaching the new major resistance at $0.145.
