PopI hold some CRO so let's hope i'm wrong. A correction should be on it's way. 0.05 USD seems a good entry point.
CROUSD trade ideas
CRO probably forming head and shouldersIf you'll notice, CRO's current support and resistance lines put it in a position to form a head and shoulders over the next few days. I'd expect a dump soon with a wick down to the 0.063 cent region. I'm looking forward to getting some 6-7 cent CRO. And no, I'm not holding mine through this slaughter. So what went wrong? CDC had to cancel all of the European MCO cards they'd issued thanks to their card issuer (not CDC) losing over 1.8 billion dollars. Naturally, a lot of people got salty and pulled out the MCO they'd staked and, just for good measure, their CRO. This means smart money pulled out too, leaving nothing but lazy HODLers and people who aren't paying attention. The angle of the last peak matches very well with other sudden collapses in CRO's history. It apparently can't sustain that type of growth in that time scale, and needed a correction. I wasn't too worried at first. Unfortunately, there's an angled support line which the recovery is going to ride that will print the second shoulder in our head and shoulder formation. Then CRO will probably drop because it'll probably ride that support wave with too much enthusiasm. Then the chart takes over and dumps because that's what price action demands. I think the optimistic case here would be a drop to around 9 cents, but that seems too hopeful with the current defi crazy unfolding. I expect a lot of people to pull their money and throw it straight into a different investment that's bleeding less, or that just pumped hard and is about to dump because people love jumping into shark filled oceans to swim after a boat they've missed. Me? I'm parking that money on the sidelines, accepting my lost profits and waiting to buy a ticket on a boat that I haven't missed.
Lookit CRO go on the daily. How and when will it crash?If you look at the areas circled on the MAC-D, we can see an obvious comparison to the pattern unfolding right now. The red line is about where I put the ceiling on CRO in the short term. That green line is our support, the yellow is our trend's heartline and the blue line is what I gauge to be the overall trajectory of CRO. At a time when other alt coins are getting ready to moon, CRO is leaving the atmosphere. A large part of this is artificial. Crypto dot com's exchange provides discounts on other cryptos to members who stake CRO. If you're curious, my portfolio is currently far more weighted towards CRO than the average portfolio and it'll probably stay that way for a few weeks. The largest externality impacting its price between now and the end of June is a half off sale on BC coming up soon. The original use case on CRO is that if you're on the CDC platforms, you pay for exchange fees with it. The introduction of staking as a use case is an interesting variable. While I do see CRO on a long term rise, I certainly don't see its current trajectory being that rise. No, we want to look to the blue line for that. I suspect that we're nearing the end of CRO's parabolic rise and find ourselves a few weeks from watching it crash below the blue line (probably more than illustrated), dead cat bouncing a few times then prancing off to look for a new pair of single-use moon boots.
wow look at cro goamazed at its performance.
the website Crypto.com made this coin.
they are an exchange with very very low rates, no credit card fees to buy crypto right now.
they offer debit cards, metal ones.
i can see alot of newbies who are just learning about crypto, getting into this website and coin.
CROUSD inverse head and shoulders seems to have played outCROUSD seems to have followed the ape-like scrawl I put on my chart a few weeks ago. Time for some pullback?
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Check the chart :
CROUSD Inverse Head and Shoulders on the DailyLooking at CRO/USD, it appears to have now formed an inverse head and shoulders on the daily chart. This may indicate a rise in value for the Crypto.com token of around 1 cent before long if BTC holds above 8k. That being said, the 4 cent level may yet prove to be strong psychological resistance and if BTC has a pull back we might have another opportunity to pick up CRO under 3.5 cents.
What do you think?
CRO/USD descending broadening wedge!I really enjoy looking for charts that most people might miss. The Crypto.com token chart currently doesn't have as much data as I would like to see in general, but it still has peaked my interest. Lets look at this chart from a TA/FA point of view, and remember my last call recently sky rocketed, can I do it again?
Firstly the EMAs will not be a sufficient indicator to look at because this chart is too new, though we do notice all other indicators looking interesting. The RSI is very low, definitely in an area I like to buy at (buy low sell high remember). The MACD is showing that selling pressure is subsiding and traders/investors are putting in buys. We also see that since the low of Sep 3rd this year we have been creating a descending broadening wedge which is generally a bullish pattern suggesting a reversal to the up side. I like this pattern because it's very mature (about 3 months long), in relation to the charts beginning.
From a fundamental point of view we know that crypto.com is going to use the CRO token to power it's new exchange coming out in the beginning of December this year. It will give traders a discount on trading and have trading pairs for the initial listed coins, which will give CRO a lot more utility than it's ever had. In the future CRO will also be used to purchase newly released projects that list their coins/tokens with Crypto.com. We have to take BTC into consideration though, if it crashes/ falls then we will more than likely see a better buying opportunity, but if it stays stable or goes up it will give CRO room to grow.
Just a chart to think about or keep in the back of your mind for the future. Also you can buy other projects tokens on this custodial exchange like Matic and Cardano which are very popular these days.
My first bullish target would be at the top of the wedge around .34-.35 and if it breaks out then my next target would be around .47. If we break down I'll have my stop loss under the wedge to cover me. If you want to use my referral to sign up for crypto.com it is h6xsf7vf8g, best wishes to all.
