Cronos (CROUSD): Ready for correction?


Cronos a cryptocurrency that has shown exceptional performance since October 2023, marking the end of a correction at $0.0488. We've developed a Wave (1) and have completed a Wave (2), which ended as a zigzag correction. This correction reached the 61.8 to 78.6 level beautifully, a common occurrence in cryptocurrencies, often hitting exactly 78.6%. For the downward Wave C, the zigzag correction precisely hit the targeted 127 to 138% levels. This trade looks very promising. We're currently anticipating Wave (3), which should reach at least a 161.8% to 361.8% extension. Our expectations lean towards the range of 161 to 261.8%, but only time will tell.

The next entry point is critical, and we're looking at the subordinate Wave 4 for this. We expect this wave to retrace between 38.2 to 50%. We don't foresee a drop deeper than the 50% level for Wave 4. The 38.2% level aligns exactly with the peak of the overarching Wave (1), while the 50% mark is approximately at the subordinate wave B level. Our stop-loss is placed just below the 50% level, also on a high between waves B and C, providing solid support that should contribute to a push upwards. We're expecting a rise to at least 161.8%.

🟢 Trade Update Long-Term🟢

Cronos #CROUSD

With all Cryptos getting a beating the last days we also got filled on our limit order on Cronos. Cronos could be highly intersting here and we think we should not be falling way below our target zone here. If so we have to overthink this whole bullish scenario and it could be possible that we are in an wave 2 rather than a wave 4 but for now we are focusing here on the likelyhood of it beeing a wave 4.

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