CRO has been dropping fast following a lot of community drama over changing interest rates for CRO staking. CRO may have a small short term bounce as speculators buy the dip, but the overall trend is likely to be downward int he medium term. CRO's actual utility is limited, and it's entire value at present is essentially tied to interest rates (which were dropped...
Why i think CRO wil drop in the short term and in the long therm. Short story, a lot of early investors of MCO are mad and they have lots of CRO that will be unlock within one or 2 weeks and a lot more in 6 months. They feel wronged and don't see any potential in CRO.
LONG STORY: MY 3 year journey with CDC (cryptodotcom)
I first posted my review on the...
After the amazing rally CRO Consolidation Targeting 38.2% Fibonacci approaching March Trend Line. After falling through the 23.6% Fib. level($0.15188), now acting as resistance, I see the 38.2% as next target $0.1273
3 things that are clear to me at least from weekly technical perspective
MACD is still wildly overbought.
0.5 fib sits nicely on a support.
0.616 fib sits too nicely on a support.
There is a very high likelihood we are heading down to at least 0.10 within 3 months.
Apart from these, many have lost their trust with CDC, largely due to their poor and sudden...
first time doing a TA and im doing a simple stock with crousd, what can I do better?
I tried to keep it simple, it looks like cro broke down its double bottom support line but quickly established a new one. its in a bearish channel within its bearish triangle, I put the buy zone in at potential arrears of accumulation as it seems to be ready to break the market...
CRO is way overdue for some much needed healthy price consolidation. I don't think it's a coincidence that from a technical POV, CRO is going to run out of space around November, right when:
- CDC haters have all bailed out after the controversial MCO swap
- CRO mainnet is launched
- US elections are happening
Prepare to ride some volatiliy.
Currently above al time high at 0.1605 but above red trend line which used to be major resistance. It can create a new bull trend momentum but ideally, we want it to retrace to $0.04- $0.05 range for accumulating buy zone for staking and other purposes where risk is not overly extended.