The last 48 hours marked the biggest increase in CRO’s price after four months of drops. While the trading landscapes have changed, it appears highly bullish on the daily chart following a 35% surge overnight.
The last four months have been tough for CRO following a back-to-back drop, but it stayed well above $0.068 this month and mounted support.
It later initiated a buy and increased to $0.1, but quickly lost steam due to a rejection. This subjected the market to a two-week consolidation phase before starting this week on a strong note. That came with a quick surge, and the price exploded massively to a daily high of $0.116.
The latest surge marked the asset’s biggest daily gain in four months, and from the look of things, it may repeat last November’s rally that sent the price to a new high. If not, it may resume bearish under $0.13.
Now that the price has broken out from the consolidation phase, we can anticipate a trend shift if CRO reclaims the $0.24 level that stopped the bulls last December. The current monthly low is considered a crucial level for the bears in case of an extension.
CRO’s Key Level To Watch
Source: Tradingview
CRO’s latest surge is targeted at the $0.123 resistance that flipped as support during last month’s breakdown. Going higher, other resistance levels to watch above it are $0.1495 and $0.17.
Currently, there are no signs of drops. Though, we may see a small retest at $0.103 and $0.09 if a drop occurs. Lower support levels stand at $0.077 and $0.0682.
Key Resistance Levels: $0.123, $0.1495, $0.17
Key Support Levels: $0.103, $0.09, $0.077
- Spot Price: $0.1
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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