The Back Ground and Psychological Level of 0.40$
After making the high of 0.9550, the bulls of CRO gave up; in its deep correction, the first leg down was 33.50%, while in a second attempt, it lost more than this. But When it shed 50% from its all-time high, we see a decent bounce back to 0.48 to 0.68, which is almost a gain of 40 percent from the current price. Now in its third leg down, it is trading near the strong support zone and a psychological level of 0.40. It also becomes almost 40% correction from the 0.68 to 0.40 level.
Point:
A decent buying interest lies in the support zone marked on the chart, a dip below 0.40 will attract many buyers, and this will be an opportunity that CRO traders will not want to miss out. A psychological and important level that is hard to break. While on the upper side, 0.50 is a resistance tested two times and was failed on its third attempt.
Pay Attention
It will be a good buying opportunity when the price visits the 0.40 level but pay close attention to the daily close; it should not breach the lower level.
Risk / Reward and Holding Period
Hold it at least for two quarters; I expect it above 1$ at the end of Jun2022.
It is not financial advice; always do your research.
Please, feel free to ask your question; write it in the comments below, and I will answer.
After making the high of 0.9550, the bulls of CRO gave up; in its deep correction, the first leg down was 33.50%, while in a second attempt, it lost more than this. But When it shed 50% from its all-time high, we see a decent bounce back to 0.48 to 0.68, which is almost a gain of 40 percent from the current price. Now in its third leg down, it is trading near the strong support zone and a psychological level of 0.40. It also becomes almost 40% correction from the 0.68 to 0.40 level.
Point:
A decent buying interest lies in the support zone marked on the chart, a dip below 0.40 will attract many buyers, and this will be an opportunity that CRO traders will not want to miss out. A psychological and important level that is hard to break. While on the upper side, 0.50 is a resistance tested two times and was failed on its third attempt.
Pay Attention
It will be a good buying opportunity when the price visits the 0.40 level but pay close attention to the daily close; it should not breach the lower level.
Risk / Reward and Holding Period
Hold it at least for two quarters; I expect it above 1$ at the end of Jun2022.
It is not financial advice; always do your research.
Please, feel free to ask your question; write it in the comments below, and I will answer.