Santiment Weekly Analysis: Can It Really Be the Bloomberg of Crypto-Space?

October 24, 2017

2 min

Santiment is a platform for crypto-financial market data and content. The model of the platform is more or less freemium as some information will be free, other information can be purchased by staking the Santiment token (SAN). Users can also monitor crypto-markets in real-time, access a transparent database and look at objective data feeds. Their goal is to be the Bloomberg of crypto-space.

Key Highlights:

  • SAN had a bearish trend throughout the week, but there are strong signs of trend reversal
  • SAN gained 21% in the past 12 hours and is trading around $0.23

ICO Results

SAN had its ICO while it was in alpha phase but still the potential of the platform attracted lot of investors.
Santiment had a two-round ICO, and both of them were very successful. With the closing of the ICO on 5th July, they raised more than $12 million worth of ETH. The current market cap of SAN reached above $13 million.

Exchange Performance

The exchange performance of Santiment in the past week was not so well. On a week-on-week, SAN’s value dropped 26% against USD, but since the past 12 hours, the bearish trend is reversing strongly from the support level at $0.19. In the last 12 hours, SAN gained 21%.
Santiment graph
A glance at Stoch indicates a short-term downward movement as there are clear signs of over buying. RSI is also at the border point with 69%. But MACD and Alligator curves are clearly indicating a bullish trend.
Stoch indicates
Against ETH, SAN the performance of SAN was quite poor throughout the week. The value dropped from 0.00098 ETH and is currently trading at 0.0008 ETH. That is above 18% decline in the value.
Overall, as the business model of the firm is quite promising, and any big announcement or activity can encourage an upward rally.

What should you learn next? Turn the wheel to find out!

rainbow circle

How Inflation Impacts Your Trading

share

previous post

How To Short Sell Crypto: Making Profits in a Bear Market
Short selling on the crypto market.
How To Short Sell Crypto: Making Profits in a Bear Market

next post

Forex Market Economic Calendar for Tuesday 24th October 2017
Forex Market Economic Calendar for Tuesday 24th October 2017

Latest posts

How To Short Sell Crypto: Making Profits in a Bear Market

25.11.2024

Short selling on the crypto market.

Black Friday, Christmas, New Year: Tips for Trading This Holiday Season

21.11.2024

Trading on Black Friday and holidays

3 Steps to Improve Your Trading Psychology

20.11.2024

trading psychology

Rainbow Power: Moving Averages Multiplied

18.11.2024

All About the IQ Option Tournaments: Rules, Strategies and Tips

14.11.2024

IQ Option tournaments

11 Life Lessons We’ve Learned From 11 Years Of Trading

11.11.2024

11 years of IQ Option