Siacoin (SC) Poised for Growth? Key Fractal Indicators Suggest Possible Upsurge

Market Overview: The cryptocurrency market is experiencing a pullback, with Ethereum (ETH) declining 7% to $4,300 from its peak of $4,780, while Siacoin (SC) shows resilience with a 5% gain today.

Fractal Pattern Analysis: Siacoin is forming a descending triangle pattern on its daily chart, which historically has led to bullish reversals when buyers defend the support level.

Historical Context: A similar setup in late 2023 resulted in a significant 504% rally for SC after bouncing off the triangle's lower boundary and breaking above key resistance levels.

Future Projections: If SC can close above its 200-day moving average, it could target a potential upside of 145% towards $0.0083; however, caution is advised as failure to break out may lead to further consolidation.