Chromia went on a correction phase after a 3.5x parabola last November and has found its bottom at around 0.5$.
The asset started a 3-week re-accumulation phase and finally broke out of the trading range.
The 0.382 fib level acted as a rational resistance on the way up and lead to the formation of a H&S pattern which consequently pulled the price down to have a successful retest of the former resistance at 0.68.
The current level can act as a new support zone and will potentially take the price up to the marked zones. A return to the green box will invalidate the idea.
The asset started a 3-week re-accumulation phase and finally broke out of the trading range.
The 0.382 fib level acted as a rational resistance on the way up and lead to the formation of a H&S pattern which consequently pulled the price down to have a successful retest of the former resistance at 0.68.
The current level can act as a new support zone and will potentially take the price up to the marked zones. A return to the green box will invalidate the idea.
Trade active:
First target hit.
Chromia on the 2-hourly chart:
Chromia on the 2-hourly chart:
Trade active:
2nd target hit