Points to consider,
- Trend change with Higher High
- Structural resistance broken
- Stochastics in upper regions
- EMA’s support
Higher high has come to fruition; this is the first time in CRON’s bear trend, signalling a potential reversal.
Structural resistance broken, now support upon a confirmed S/R flip retest. Stochastics in upper regions can stay here for an extended period of time, however lots of stored momentum to the downside.
diverging, confirming a as CRON puts in lower lows. EMA’s cross , first time this has happened in the downtrend for CRON .
is visibly increasing confirming a technical level is being tested, this needs to sustain for a continuation.
Overall, in my opinion, CRON has healthy coming at key resistance now potential support. A continuation is probable, confirming the macro trend change.
What are your thoughts?
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