CRONOS Giant Bull Flag can lead it to 0.85000 just like in 2021.Cronos (CROUSD) has been trading within a Bullish Megaphone through the entirety of its current Bull Cycle. Ahead of its first 1W Golden Cross, the pattern draws many similarities with the Bullish Megaphone of the previous Cycle.
More specifically, it appears we are inside a Bull Flag similar to April - May 2021, which after testing and holding the 1W MA100 (green trend-line), it rebounded and peaked just above the 1.618 Fibonacci extension.
As you can see the Fibonacci structure between the two Megaphones is quite similar, giving high probabilities of a continuation. As a result, as long as the 1W MA00 holds, we expect Cronos to dip some more and then rebound to 0.85000 (Fib 1.618 ext).
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Crousdsignals
Cronos (CRO) Soars +20% โ Can the Rally Push to $0.10?Over the past 24 hours , the Cronos project with the CRO ( COINBASE:CROUSD ) token has seen a price increase of nearly +20% .
Let's see if we can still profit from the movement of the CRO token .
What is Cronos (CRO)?
Cronos is an EVM-compatible blockchain built on the Cosmos SDK. It supports DeFi, NFTs, faster payments, and even AIโcapable dApps. Its native token, CRO, powers fees, staking, and ecosystem activities.
Why CRO Jumped +20% Today (July 8)
Technical leap: Sub-second block times and faster throughput
Better UX: Real-world ready for fast DeFi, payments, and AI dApps
Increased adoption: Greater utility across CAPITALCOM:CROUSD ecosystem
Trader momentum: Volume surges and speculative interest
Strategic roadmap alignment: Upgrades following gas fee improvements ---------------------------------------------------------------------
Now let's examine the CRO token chart on the 4-hour time frame from a technical analysis perspective.
CRO token is currently trying to break the Resistance zone($0.0960-$0.0925) .
Also, in terms of Elliott wave theory , this CRO token price increase with high momentum should be in the form of wave 3 and we can expect a correction to the Potential Reversal Zone(PRZ) for CRO .
I expect CRO to re-attack the Resistance zone($0.0960-$0.0925) after entering the PRZ and rise to at least near $0.1(Round Number) .
Note: Stop Loss (SL) = $0.847= Worst Stop Loss(SL)
Note: If the CRO token breaks the Resistance zone($0.0960-$0.0925) without correction, we can expect a break of the Resistance lines.
Note: It is better to enter a trade if you find the right trigger for a Long position, as a Short position is more risky.
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Cronos Analyze (CROUSD), 4-hour time frame.
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Do not forget to put a Stop loss for your positions (For every position you want to open).
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๐ข CROUSDT - 4H (29.09.2022)๐ข CROUSDT
TF: 4H
Side: Long
SL: $0.107657
Pattern: Bull Flag
TP 1: $0.111851
TP 2: $0.114481
TP 3: $0.116608
CRO going to break out roughly within 24 hours. Enter now and DCA or wait for price to reach red area.
CROUSD Is it replicating Bitcoin's 2018 Cycle?Cronos (CROUSD) has fallen more than -68% since its March 28 High and is currently consolidating after a rebound on oversold 1D RSI. Being in a Bear Cycle since the November 23 2021 High, this pattern resembles Bitcoin's 2018 Bear Cycle. Notice the similarities.
Following their blow-off tops and the initial drop that followed, both have consolidated within a Descending Triangle of Lower Highs and when the Support broke, they went into 1D RSI oversold (below 30.00) area. Bitcoin bottomed higher on a -63% drop, marginally breaking the 1.5 Fibonacci extension. Cronos has so far marginally broken the 1.618 Fib ext on its recent low.
Is it repeating Bitcoin's 2018 Bear Cycle and if so can this be the bottom?
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