Cryptocom in Bearland- Like most altcoins, CRO remains deep in its bear market.
- Until BTC rallies significantly, altcoins will likely stay overshadowed.
- BTC dominance (BTC.D) is climbing near 60%, putting pressure on altcoins.
- As always, check the bubbles, follow the trends
- Everything you need is in the chart.
- What’s the best approach?
- Be patient and continue DCA.
- Buy at the good time.
Buying CRO in this market:
Option 1: Wait for a return to the bottom around $0.05—(ideally a full-buy range).
Option 2: Wait for a breakout and weekly close above $0.10 for confirmation.
- Whether trading or holding, consider taking partial profits on the way up.
- For the short term, consider taking profit around $0.50, as there’s resistance in this area.
- For those waiting on the altcoin bull run, a max target of $1.5 to $2.5 is reasonable.
Happy Tr4Ding !
Cronosusdt
CRO (Cronos): Falling Wedge BreakoutTrade setup : Price is in a Downtrend, however, it had a bullish breakout from Falling Wedge pattern, which could signal at least a temporary bullish trend reversal with near-term upside potential to $0.10. We would enter on breakout retest near $0.08. Stop Loss at $0.07. This is a riskier trade setup because it’s a trend reversal not a trend continuation setup. It’s against the overall downtrend. Learn to trade breakouts in Lesson 7 and Risk Management in Lesson 9.
Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Learn to trade chart patterns in Lesson 8.
Trend : Short-term trend is Down, Medium-term trend is Strong Down and Long-term trend is Strong Down.
Momentum is Bullish but inflecting. MACD Line is still above MACD Signal Line but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum could be nearing a downswing. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance : Nearest Support Zone is $0.075, then $0.066. Nearest Resistance Zone is $0.10, then $0.12.