CRO - Rebound Will Now be Tested

Breakout and continuation of the Rebound?

Or Rejection and more trouble?

CRO has failed to excite us further but remains a serious player in the industry.

Analysis:

Crypto.com Coins (CRO) has dark clouds forming on its horizon as CRO price development is set for a bearish breakout on the pennant it is forming at the moment. As the price will nosedive, expect bears to have an easy ride before running into bulls that will start to buy into CRO price action. With that, CRO will lose around 20% of its value and will hit $0.31 before being halted by broad buying from bulls and investors.

CRO price is awaiting bulls for a pick-up
Crypto.com Coin is entering its fourth consecutive day in the consolidation of the pennant. As price action looks set to break the pennant, a lower stage is set as the outcome of the pennant. Bears already have their hand in the price action with the rejection of CRO price at the monthly S1 support level at $0.43. Not only the S1 but the 76.4% Fibonacci level and a historical level all fall in line around that area, making it an adamant level to punch through.

Yes, a lot will depend on Bitcoin as well as the markets:

Should US markets see a significant shift toward risk with indices firmly in the green, expect a possible break and pop with the tone set for next week towards $0.50.

One Love,

the FXPROFESSOR