Cronos/TetherShort
CRO struggling to break resistance
CRO has heavy resistance at the solid yellow line.
Currently in a rising wedge which has top line made up of a longstanding support/resistance.
The bullish falling wedge it previously broke out of has a target that coincides with it's 1.618 Fib level ($0.457'ish).
The rising wedge it is currently in has an apex that also ends at the 1.618 fib level.
If this breaks above the solid yellow line of resistance, it might tap the 1.618 fib level before testing support.
Probability says this will break down from the rising wedge where it is currently at though.
It might find support at the 0.65 Fib level or at $0.326.
NFA.
Currently in a rising wedge which has top line made up of a longstanding support/resistance.
The bullish falling wedge it previously broke out of has a target that coincides with it's 1.618 Fib level ($0.457'ish).
The rising wedge it is currently in has an apex that also ends at the 1.618 fib level.
If this breaks above the solid yellow line of resistance, it might tap the 1.618 fib level before testing support.
Probability says this will break down from the rising wedge where it is currently at though.
It might find support at the 0.65 Fib level or at $0.326.
NFA.
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