CRO/USD - Correction in progress, $0.60 must hold, else...
CryptoCom Coin had a fantastic rally in October and the first half of November. Now, the price appears to have finally hit a major resistance, which is not surprisingly found at just under $1 dollar. Such key psychological levels will always represent turning points in the price action, and CRO is no different. Despite the ongoing correction, CRO’s performance this week was stellar, with a 40% price increase.
The current support is found at $0.63. However, considering the past rally, CRO might not only correct to the Fibonacci 38% retracement, and it might dip even further.
Looking ahead, CRO’s indicators on the daily timeframe have curved back down after the major rally in the past couple of weeks. This is a clear warning sign, and if CRO breaks below $0.63 support, then things could get even uglier with price falling at half a dollar.
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The current support is found at $0.63. However, considering the past rally, CRO might not only correct to the Fibonacci 38% retracement, and it might dip even further.
Looking ahead, CRO’s indicators on the daily timeframe have curved back down after the major rally in the past couple of weeks. This is a clear warning sign, and if CRO breaks below $0.63 support, then things could get even uglier with price falling at half a dollar.
Like and follow if you liked my idea!
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