CROUSD price is down 60% from ATH (0.97), CRONOS has a very big upside potential with a good RRR 1:15 almost if you hodl to ATH.
CRONOS is a sponsor of the world cup 2022 in Qatar, more volume will get injected starting from Q3 this year.
Hello friends, today you can review the technical analysis idea on a 4H linear scale chart for Crypto.com (CROUSD).
Crypto.com price has been in a downward trend. There are multiple Support and Resistance Lines shown. The price may make an attempt to get to the 0.236 Fibonacci Retracement area with the Ichimoku Cloud possibly creating resistance. RSI, MACD and...
CROUSD has found a nice double bottom support above 0.786
Previous rejection points at 0.618 and 0.5 indicated by red arrows
In white box's I portray similarities between two points, both resulting in bullish results, from a double bottom scenario
Overall it does look bullish after breaking out of this rising wedge , which is normally considered more of a bearish pattern
CRO is getting support from 1,618 fib extension level and 0.618 retracements (Made cluster support) as well as a logical barrier or 0,5$.
MACD is almost at the end of the downtrend.
RSI is about to break the downtrend.
Stochastic RSI is ready as well.
If 50 days moving average hold the price we should see some consolidation and accumulation then go higher...
