Technical analysis by CryptoVVP about Symbol SC: Buy recommendation (2/26/2025)

Trade Idea: SC/USDT (Long) Current Situation: - The SC/USDT pair is showing signs of strength on the daily/hourly timeframe (choose the appropriate one). - The price has bounced off a key support level, indicating a potential upward movement. Key Levels: - Support: 0.0050 USDT (a critical level holding the price). - Resistance: 0.0070 USDT (the nearest target for take-profit). -Next Target: 0.0085 USDT (in case of a breakout above the first resistance). Technical Indicators: - RSI (14): Currently in the oversold zone (below 30), suggesting a possible reversal upward. - MACD: The MACD histogram is starting to shrink, indicating a potential bullish crossover. -Moving Averages: The price is above the 50-period SMA, confirming an upward trend. Trade Plan: 1. Entry Point: 0.0036 USDT (after confirming the bounce from the support level). 2. Stop-Loss: 0.0025 USDT (below the key support level to minimize losses). 3. Take-Profit: - First Target: 0.1 USDT. - Second Target: 0.8 USDT. Risk Management: - Risk per trade: No more than 2% of your deposit. - Risk/Reward Ratio: 1:3 (high potential reward with minimal risk). Fundamental Catalyst: - The Siacoin (SC) project continues to develop, and decentralized data storage is gaining popularity. News about partnerships or protocol updates could act as a catalyst for growth. Conclusion: SC/USDT looks attractive for a long position, with a clear support level and potential to rise toward resistance. However, always monitor the market and be prepared for corrections.