NOT FINANCIAL ADVICE
As expected, a large amount of
CRO were unstaked (from Q4 2020 and Q1 2021 adopters) and sold during Q3 2021 especially, suppressing price action.
However as we enter Q4 2021, we can see a positive trend developing. Increasing buyers and decreasing sellers.
Assuming that adopters from Q2 2021 have yet to unstake from their 6 month bonding (Q1 2022 onwards only) and a low number of signups occurred during the bearish Q3 2021, thenCRO looks primed for discovering new ATHs again.
However a major level of resistance needs to be cleared first: $0.25.
It's possible that some unstakedCRO are waiting to be sold at this level, so I would expect a technical reversal as slight selling pressure will be faced.
We can expect at least a reversal down towards $0.185 to $0.216 (likelier) if this rejection comes to fruition.
However, should price break out of this resistance, then safe to say, the Bulls are back in control -- but until we get confirmation, anything is possible.
Until then, happy trading~
As expected, a large amount of
CRO were unstaked (from Q4 2020 and Q1 2021 adopters) and sold during Q3 2021 especially, suppressing price action.However as we enter Q4 2021, we can see a positive trend developing. Increasing buyers and decreasing sellers.
Assuming that adopters from Q2 2021 have yet to unstake from their 6 month bonding (Q1 2022 onwards only) and a low number of signups occurred during the bearish Q3 2021, then
CRO looks primed for discovering new ATHs again.However a major level of resistance needs to be cleared first: $0.25.
It's possible that some unstaked
CRO are waiting to be sold at this level, so I would expect a technical reversal as slight selling pressure will be faced.We can expect at least a reversal down towards $0.185 to $0.216 (likelier) if this rejection comes to fruition.
However, should price break out of this resistance, then safe to say, the Bulls are back in control -- but until we get confirmation, anything is possible.
Until then, happy trading~
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.