Is (CRO) Price Collecting Rocket Propellant?

FX Daily: Low Volatility Persists Amidst US Jobs Data Ripples
  • price token shows signs of climbing higher due to a potential rounding bottom.
  • Investors can expect CRO to trigger an exponential rally after flipping the $0.53 resistance barrier into a support level.
  • A daily candlestick close below the $0.37 foothold will invalidate the bullish thesis, price is currently at the midway point in completing a bullish setup. Therefore, market participants can expect massive returns for this token even before a breakout! price ready for an explosive move token shows no signs of slowing down as it approaches a significant resistance barrier at $0.53. After bottoming at roughly $0.37, CRO has rallied 27% to where it currently trades - $0.53.

Flipping the said hurdle into a foothold will be key to triggering a massive run-up for price to retest the $0.88 ceiling. Doing so would complete a rounded bottom setup for CRO. This technical formation shows a slow resurgence of buyers that pushes the price back to its peak. If that were the case for price market participants can expect it to gain a total of 88% from its current position.

Depending on the momentum, CRO could extend the run-up and retest the all-time high at $0.97. In some cases, bulls might tag the $1 psychological level and set a new high. price could double in the next few weeks - 1

CRO/USDT 1-day chart

Regardless of the outlook for price, the altcoin market could undergo a drastic U-turn if Bitcoin flash crashes. Hence, market participants need to pay close attention to the big crypto's directional bias. In case of a sudden shift in narrative, a daily candlestick close below the $0.37 foothold will invalidate the bullish thesis for the price by producing a lower low. This move is likely to skew the odds in bears’ favor and trigger a crash that could push CRO to January 22 swing low at $0.32.


FX Daily: Low Volatility Persists Amidst US Jobs Data Ripples

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