Technical analysis by Bicoinmoney about Symbol ALGO: Buy recommendation (3/26/2025)

📊 Technical Analysis Overview:✅ Price Action & Candles:The latest Heikin Ashi candle is a strong green, signaling early bullish momentum.Current price is around $0.214, showing a clear bounce from the recent low at $0.175.Potential double bottom pattern forming, which is typically bullish if confirmed.📉 EMA (20/50/100/200):Price is still below all major EMAs, especially the 100 and 200 EMA, indicating the long-term trend remains bearish.However, the price is now testing the 20 and 50 EMA – breaking above them could confirm a short-term uptrend.☁️ Ichimoku Cloud:Price is still below the Kumo (cloud) – a bearish sign in the bigger picture.The future cloud is flat and wide around $0.29, signaling strong resistance ahead.A break above the cloud would be a strong bullish signal.🔄 Fibonacci Retracement:Bounce from 0% level ($0.175), aiming for 23.6% ($0.293) as the next resistance.A bigger rally could reach 61.8% retracement at $0.484.📉 RSI (Relative Strength Index):RSI is currently around 39.28, rising from the oversold zone.A break above 50 would confirm stronger bullish momentum.📈 MACD (Moving Average Convergence Divergence):A bullish crossover just happened: MACD line crossing above signal line.Histogram is turning green – showing growing bullish momentum.Previous bullish wave lasted 9 bars (~27 days), so a similar rally could be starting.⏳ Time Cycles:Chart shows 72-bar (~216 days) cycles, possibly suggesting a new bullish phase beginning now.📌 Summary & Trade Plan:Near-term TargetMid-term TargetStrong Support$0.24 - $0.29 $0.48 (Fib 61.8%) $0.175If holding: Worth holding if price breaks above EMA 50 and approaches $0.24–$0.29.If considering buying: Entry between $0.21–$0.22 could be a good swing trade setup.Stop-loss: Below $0.175 (key support).