Hello, today I would like to share my analysis on
CROUSD
. As you can see in the chart (4 hour timeframe), for the last week CRO was forming a pennant/triangle form. In my opinion the next CRO move should be extremely important for the next week or two (if nothing special happens like staples centre getting new name). It is possible that it will brake from the triangle and reach new all time high, however other option is that it could brake short and drop a bit. From the chart you can see that it should drop to around 0.6$, and stay at that level. On 1 day timeframe chart, MACD indicator is showing bearish move to be happening soon. So option 2 is more possible.
What are your thoughts?