$CRO is still in price discovery mode. Rejection at 50 Week EMA.
NOT FINANCIAL ADVICE.
I enjoy using my Crypto.Com VISA debit card because it is both convenient and enables me to 'cash out my crypto on a whim.
There's a 3rd reason too, and that is the benefit of earning $CRO as cashback, whenever I make purchases.
So in a weird way, spending my crypto lets me earn back crypto.
$CRO is still very much in price discovery mode, I do strongly believe.
Here we see a price rejection along the 50 Week (orange) EMA trendline.
Its price action is seeing wild swings, and oddly enough at the same time rendering a beautiful expanding wave-like structure, despite the massive occasional upper wicks.
I suspect that we would see $CRO spending some time (days~weeks) trading in this price levels before it makes a move for its next wave up.
This $CRO Daily Chart also sees it face stiff resistance at the 20 Day (red) EMA trendline.
We also see the 50 Day (orange) EMA crossing below the 200 Day (green) EMA.
I'd like to have the opportunity to perform an Elliot Wave analysis to supplement these EMA movements, but $CRO's price actions have gotten me stumped.
While I very much enjoy using Elliot Wave analysis these fluctuations are proving too hard to read, exacerbated by the less than a year's worth of information available.
Although these EMA readings slant towards a bearish outlook, I do believe that $CRO have potential to 2x~3x by year's end (NOT FINANCIAL ADVICE!!).
Until next time, happy trading~
I enjoy using my Crypto.Com VISA debit card because it is both convenient and enables me to 'cash out my crypto on a whim.
There's a 3rd reason too, and that is the benefit of earning $CRO as cashback, whenever I make purchases.
So in a weird way, spending my crypto lets me earn back crypto.
$CRO is still very much in price discovery mode, I do strongly believe.
Here we see a price rejection along the 50 Week (orange) EMA trendline.
Its price action is seeing wild swings, and oddly enough at the same time rendering a beautiful expanding wave-like structure, despite the massive occasional upper wicks.
I suspect that we would see $CRO spending some time (days~weeks) trading in this price levels before it makes a move for its next wave up.
We also see the 50 Day (orange) EMA crossing below the 200 Day (green) EMA.
I'd like to have the opportunity to perform an Elliot Wave analysis to supplement these EMA movements, but $CRO's price actions have gotten me stumped.
While I very much enjoy using Elliot Wave analysis these fluctuations are proving too hard to read, exacerbated by the less than a year's worth of information available.
Although these EMA readings slant towards a bearish outlook, I do believe that $CRO have potential to 2x~3x by year's end (NOT FINANCIAL ADVICE!!).
Until next time, happy trading~